The Centric Approach to Retail Strategy
A granular, fact-based, experience driven Retail strategy plays a critical role in a Brand’s success. Without the right distribution strategy and proper execution support, a brand is likely to fail in-spite of a superior product offering.
At Centric we provide our clients with retail strategy support based on our decades of real world business management experience, and extensive knowledge of brick & mortar trade dynamics. Our Principals have worked at CXO levels in Apparel, QSR, FMCG, Travel and Education sectors.
We believe when a company decides to enter the retail market, they need to take decisions based on ground reality. Centric offers clients a mix of sectoral knowledge, decades of on-ground experience and accurate research to ensure the right decision is taken.
Our Retail Consultants evaluate the client’s offering from both end user and trade perspectives. This ensures we identify key barriers to trial and potential triggers for adoption prior to retail entry. We also work with the client to create a business plan that details cost of sale and potential return on investment. And if the client requires execution support, we also provide Outsourced Sales Support for retail entry in India.
Retail Business scenarios where Centric can help:
Centric’s B2C Retail Strategy Consulting helps organizations who are engaged in the following initiatives:
- New Product Launch
- Channel Expansion for profitable growth
- New Geography Expansion
- Reviving Brand Growth
Centric Tool-kit for Retail Strategy Consulting
The Centric tool kit for Retail Strategy is based on client interactions, discussions with industry experts and trade interactions. We also conduct category specific shopping observation to ensure a good understanding of the competitive context and shopper dynamics. All research is conducted in-house and is the basis of our recommendations.
Our retail strategy consultants believe in treating channel partners as key players in the brand journey. Without their help and active support the brand will not achieve it’s fullest potential. We leverage our extensive relationships with players in both Modern and General Trade to gauge feedback to new products and ideas.
In summation :
Centric’s consultants understand how the brand can leverage the strengths of our distribution network to reach the maximum number of consumers efficiently.
- Partner Pulse : Trade Interviews with Modern Trade, Retailer and Distributors
- Retail Map : Identifying Key Retail Outlets (serviced vis-a-vis potential)
- Retail Dynamics : Shopping Observation & Intermediary Intervention Analysis
- Context Review : Competitive Context Analysis & Retail Environment Overview
As part of our engagements involving New Product launch or Geographical expansion, we also provide the following inputs:
- Trade Response : Response to new Concept or Product
- Retail Strategy Mapping : Potential Barriers and Triggers to growth
- Cost of Sale: Based on Trade feedback
Key deliverables of a Retail Strategy engagement include:
Centric’s Retail Consultants work closely with the client to help them draw up a realistic, insight – driven and trade proofed retail strategy. Our deliverables are granular and action oriented, they include the following reports:
- Foundational Research : Competitive Context Mapping, Brand Positioning, Identifying key pillars of differentiation other elements necessary for a successful retail operation
- Marketing Collateral required for Retail Launch (Brand Logo, Packaging, POP material and other collateral for test launch
- Trade Feedback based on Key Account and / or General Trade interactions
- Sales and Distribution Strategy and partner identification
- Cost of Launch / Retail Expansion and working business plan for decision making
If the client requests for further support and the last mile execution, we provide outsourced CSO and CMO services to facilitate translation of business strategy into action.
Outsourced Sales Support:
The best strategy is ineffective without the right execution. Firms looking to grow require access to the right sales resources in a cost effective manner. At Centric we provide outsourced sales support to help firms scale up quickly in a highly competitive world.
Our Outsourced Sales Support engagements are metric driven and time bound. Each engagement is given the right focus as a dedicated team as follows:
1. Principal Consultant who will run the engagement with at least 15 years of CXO level experience
2. Senior Sales Consultant who will open doors for the brand in Multi – Brand Outlets, Stand Alone Stores and other channel specific outlets. They also identify & manage the distributor relationship.
3. Key Account Manager who ensures brand introduction to Modern Trade and negotiates entry at the right price.
4. Marketing manager who provides POP design, event collateral and social media support to ensure secondary off-take.
To know more about our Out Sourced Sales Service please click here
In summation, our retail strategy consultants, leverage their decades of real-world experience to help clients achieve their business objectives. A pragmatic fact-based Retail Strategy with Outsoruced Sales Support (if required) helps our clients grow faster, more effectively.
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