Geoff Wilson’s Post

🚀 Unlocking Success in FMCG: The Power of Pricing and Promotions 🛍️ In the dynamic world of Fast Moving Consumer Goods (FMCG), strategic pricing and promotions play a pivotal role in driving success. Let's explore why they are indispensable for brands and retailers alike. 🎯 Precision in Pricing: Setting the right price is an art. It's not just about covering costs; it's about understanding consumer behavior, market trends, and creating perceived value. A well-thought-out pricing strategy can lead to increased sales, brand loyalty, and a competitive edge. 💡 Example: Take the case of Brand X, which strategically priced their new product slightly lower during the launch phase, gaining market share swiftly. Once established, a gradual price increase followed, maintaining consumer trust and maximizing profits. 📢 Promotions that Propel: Promotions are the heartbeat of FMCG. They create excitement, drive traffic, and boost sales. From limited-time offers to buy-one-get-one-free deals, promotions engage consumers and can be a game-changer for brand visibility. 💡 Example: Brand Y orchestrated a successful promotional campaign during a holiday season, offering exclusive bundles at discounted prices. Result? A surge in sales, heightened brand awareness, and a loyal customer base. 🔄 Finding the Balance: However, it's crucial to strike a balance. Overpricing can alienate consumers, while excessive promotions might impact profit margins. The sweet spot lies in a well-calibrated mix, aligning with market dynamics and consumer expectations. 🚀 Key Takeaway: In the ever-evolving FMCG landscape, pricing and promotions are not just tools; they are strategic assets. They require constant analysis, adaptation, and innovation to stay ahead. Success is not just about the product; it's about how well you navigate the pricing and promotional maze. #FMCG #PricingStrategy #Promotions #BusinessStrategy #MarketingStrategies #RetailSuccess

Keeping an eye on the pulse of consumer trends is crucial for brands to stay ahead in today's competitive market. According to a recent article from The Grocer, the rise of private brand products underscores the importance for brands to emphasise their unique value propositions. Howard Wright, our Executive Creative & Strategy Director for UK, IE, and Canada, provided valuable insight to The Grocer on this matter, highlighting the need for brands to focus on value creation amidst evolving consumer preferences. As consumer preferences continue to evolve, it's evident that value is taking centre stage. This shift challenges brands to not only deliver quality but also highlight the distinct value they offer to consumers. Innovation, differentiation, and a deep understanding of consumer needs are paramount for brands looking to thrive in this landscape. How can your brand adapt to meet the evolving demands of today's consumers? #ConsumerTrends #BrandStrategy #ValueCreation #RetailInsights

𝗗𝗶𝗱 𝘆𝗼𝘂 𝗸𝗻𝗼𝘄 𝟲𝟬% 𝗼𝗳 𝗽𝘂𝗿𝗰𝗵𝗮𝘀𝗲 𝗱𝗲𝗰𝗶𝘀𝗶𝗼𝗻𝘀 𝗵𝗮𝗽𝗽𝗲𝗻 𝗮𝘁 𝘁𝗵𝗲 𝘀𝗵𝗲𝗹𝗳, 𝗮𝗻𝗱 𝘀𝗵𝗼𝗽𝗽𝗲𝗿𝘀 𝗼𝗻𝗹𝘆 𝗰𝗼𝗻𝘀𝗶𝗱𝗲𝗿 𝟯 𝗯𝗿𝗮𝗻𝗱𝘀? 𝘚𝘰, 𝘸𝘩𝘺 𝘪𝘴 𝘊𝘢𝘵𝘦𝘨𝘰𝘳𝘺 𝘔𝘢𝘯𝘢𝘨𝘦𝘮𝘦𝘯𝘵 𝘊𝘳𝘪𝘵𝘪𝘤𝘢𝘭? 𝗪𝗵𝗲𝗿𝗲 𝗶𝘀 𝘆𝗼𝘂𝗿 𝗽𝗿𝗼𝗱𝘂𝗰𝘁 𝗼𝗻 𝘁𝗵𝗲 𝘀𝗵𝗲𝗹𝗳? Does it stand out and tell its story? Can shoppers find it during promotions? Remember, the average shopper can spend 7 seconds browsing and 1.7 seconds deciding on a product, so every detail counts! 𝗜𝘀 𝘁𝗵𝗲 𝗰𝗮𝘁𝗲𝗴𝗼𝗿𝘆 𝗹𝗮𝘆𝗼𝘂𝘁 𝗲𝗮𝘀𝘆 𝘁𝗼 𝘂𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱? Are best-sellers readily available? Who gets the coveted eye-level space? How are the blocks defined—by Brand, Segment, Flavor? Shoppers can be distracted by too many stimuli, colors, etc. A cluttered POG can lead to walkaways! 🔑 𝗥𝗲𝗮𝗹-𝗟𝗶𝗳𝗲 𝗘𝘅𝗽𝗲𝗿𝗶𝗲𝗻𝗰𝗲: In my experiences in Beverages, Paper, Cereal, and OTC categories, we saw an average 20% increase in sales by optimizing shelf layout, better brand blocking, price positioning (Good, Better, Best), or adding facings/capacity to key sellers. 𝗥𝗲𝗮𝗱𝘆 𝘁𝗼 𝗺𝗮𝗸𝗲 𝘆𝗼𝘂𝗿 𝘀𝗵𝗲𝗹𝗳 𝗮 𝗴𝗮𝗺𝗲-𝗰𝗵𝗮𝗻𝗴𝗲𝗿? • During your next store visit, analyze your product placement and competitor strategies. • Offer insightful recommendations to your retail partners on shelf optimization and category layout, going beyond just your own products. Follow us for more category management tips and tricks to help your brand win at the shelf. #CatmanAnalyticsGroup #CategoryManagement #WinningAtShelf #RetailMarketing #ShopperBehavior

Considering that many of our item/categories are influenced by "BASE" business drivers - Shelf, Assortment, and Pricing to name a few. Also when a business may be 70-80%+ Base, What you put on the shelf, Where you put it and How you integrate it into the category are all important considerations.

In the FMCG sector, product sampling stands as a time-honored strategy, proving its worth across decades as an effective means to introduce consumers to new offerings. This age-old tactic, deeply rooted in the principle of 'try before you buy,' has continually evolved. What's fascinating is how this traditional approach has found new vigor and relevance through partnerships with quick commerce platforms. Today, brands are leveraging the speed and personalization capabilities of quick commerce to deliver samples directly into the hands of consumers, alongside their routine grocery orders. This modern twist not only breathes new life into the classic sampling technique but also amplifies its benefits. Brands can now ensure that their samples reach a highly targeted audience, based on sophisticated data analysis of past purchase behaviors and preferences. Tailoring samples based on past purchases not only delights customers but also makes them feel understood and valued. This personalized approach fosters a deeper connection with the brand, enhancing loyalty and brand awareness #productsampling #LinkedInNewsIndia

Join me and my colleague Josh McCann for a webinar unveiling surprising insights from our latest global study on own brands! Discover how grocery retailers can boost revenues by 3% amidst rising demands for value and intensified promotions.   Key topics include: - Role of own brands in a promotional environment - Strategies for revenue growth - Understanding shopper behavior and perception   Don't miss out! Register for our webinar on March 13 at 11 a.m. EST to explore these findings and receive a copy of the study: https://lnkd.in/gFtcHKQF #RetailInsights #shopperbehavior #Webinar

Two-thirds (64%) of retail executives expect inflation-weary & economic-uncertain consumers to purchase fewer goods. Couple this with economic uncertainty and what does it mean #CPGbrands 🤔 This heightened price sensitivity among consumers could eliminate many of the “nice to have” products from shopping carts. Brands must carefully consider their pricing strategy, becoming a staple pantry or refrigerator item. Here’s how these elements play out with our agency: 1️⃣ Enhance The Value Prop Clearly and distinctly communicate benefits while highlighting differentiators to leave a deeper and more meaningful impression on the consumers mind. 2️⃣ Become a “Must Have” brand Increase trust and strengthen loyalty by highlighting solutions that speak to both emotional and logical needs. 3️⃣ Test For Price Sensitivity Conduct price sensitivity testing to understand the optimal price point for your SRP and promotions to maximize purchase intent and SKU profitability. 4️⃣ Make Data-Driven Decisions Review your analytics and consider modifying (through expansion or consolidation) products, introducing value-oriented variants for price-sensitive consumers, and strategically offer promotions that resonate with the economic climate to drive value perception and trial without harming brand equity. 🫵🏻 Working on a brand innovation or renovation? Let's chat: ➡️ https://lnkd.in/eX4NtfJF 📰 Sign up for NICE PACKAGE to receive data-first category insights, thought leadership from our team, and more! Hit the Link ➡️ https://lnkd.in/gqtcNXNj 🔔 Want more tips here on LinkedIn? Hit the bell at the top of our company page 🔔 Source: Retail Economics #ValueProposition #BrandStrategy #CPG #Retail #LineExtensions

Why Innovate? Companies that innovate more than average experience twice the growth. In grocery, winning brands launch more new products and gain more value from them. In the UK grocery market, the shopper is faced with 20,000 to 25,000 products when shopping. Between 60 and 90 new products on average are launched every year in every category. Few of these will survive and even fewer be successful. This is huge competitive clutter to cut through and success can take a long time. Our new research examines the relationship between launch activity and share change for 1000s of brands across a large number of product categories in the UK to provide recent evidence about the link between brand innovation activity and growth. Watch out later this week to get access to the research report. #BrandInnovation #GroceryInnovation #FMCG #GroceryIndustry

In the fast-moving consumer goods (FMCG) industry, understanding consumer behavior is essential for crafting successful marketing strategies, driving product innovation, and fostering brand loyalty. Join us as we delve into the intricacies of consumer behavior in the FMCG sector and explore how businesses can leverage insights to stay ahead in a competitive marketplace. #goybo #sucess #business #

Successful innovation faces many barriers: physical availability in terms of retailer listings and shelf space; mental availability such as advertising, promotion and shelf space; product ‘newness’ or distinctiveness; positioning and pricing versus competitors; consistency with the parent brand; consistency of investment and support; private label competition and imitation; new product expertise locally or internationally. The other consideration when evaluating innovation is that it is more difficult in crowded marketplaces with a lot of competitive ‘clutter’. In the UK grocery market, the shopper is faced with 20,000 to 25,000 productswhen shopping. Between 60 and 90 new products on average are launched every year in every category. Few of these will survive and even fewer be successful. This is huge competitive clutter to cut through and success will take a long time, often decades. Download the innovation white paper report (link in comments) for more insight to Grocery Innovation in the UK ⬇️ #BrandInnovation #GroceryInnovation #FMCG #GroceryIndustry