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Monitor sales on a store by store basis to maximise your sales
The UK FMCG retail market is continuing to segment, with many different formats catering for different locations and different consumers. It’s never been more important to specifically target your products and monitor performance by individual stores.
Each retailer now has more than one fascia under which they trade. Trading patterns, ranges and price are often different for each store format. Understanding these differences and setting your strategy to match are critical to your products success.
Tesco in particular has focused on the growing convenience sector. This year they plan to open over 100 new Tesco Express stores. The continued opening of new selling space, as well as price reductions, have been cited as two of the main reasons for Tesco’s continued success dominance of the UK market.
By February 2006 there were a total of 655 Tesco Express stores, each around 2,000 square foot in size, delivering an average turnover of around £50,000 per week. Typically, Tesco Express stores carry 2,500 lines in broad, but shallow product ranges which tend to focus on fresh food and impulse categories. These stores attract around 10,000 customers per week, with each customer visiting a store between two and four times per week.
The Express format is sub divided into three location clusters; neighbourhood, on-the-move and high street. They are then further divided into three affluence clusters; upmarket, standard and price sensitive, giving a total of nine store permutations.
The whole Tesco Express format results in more than £1.5m extra shopping trips per year to the Tesco brand, with each transaction worth around £4.
Understanding how your products perform in any store format for any retailer can mean the difference between success and failure. This is particularly poignant in the convenience sector where space is at a premium and ranges are limited. The expansion of the Tesco Express format means you need to be prepared with the right information to prove your success in this area.
IRI can provide details of your performance on a store by store basis, thereby helping you to select the right strategy for the right location to maximise your sales.
For more information please contact your account representative or David Beech on 01344 746356 or david.beech@infores.com
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Monitor the presence, price and performance of your products and your competitors in every store by individual retailer online.
Track new product launches and promotional implementation as they happen and respond swiftly to in-store non-compliance.
Ensure maximum product performance at the store level and improve your relationship with Tesco through increasing your sales in their stores and maximising profits.
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