How can Category Management help you in Retail Success? How can you make sure that shoppers find your category, brand, product, or SKU among all the noise?

Imagine a shopper walking into any retail store and seeing a sea of products on the shelves. A typical grocery store has 40K items in stock, and the shopper only takes 1.7 seconds to decide whether to buy your product.

Category management can help you:

• Better understand the needs of your consumers, including their shopping habits, and pain points.
• Develop a category strategy with clear goals, target markets, and competitive positioning.
• Execute the strategy with new products, competitive pricing, and effective Space and Merchandising tactics.
• Track Results and make necessary adjustments.

Retailers like Walmart, Target, Kroger, Lowe’s, CVS, and others are increasingly demanding more from their suppliers. They EXPECT help in developing and executing category strategies that drive growth and profitability.

Category Management in Action Example:

Walmart partnered with “Company B” to develop a category strategy for personal care products to help drive awareness and conversion in this category. 

Key learning was shoppers may be going elsewhere to find key missing premium brands/ segments. 

Strategically, Proper space management, End-of-aisle displays, offering discounts for multiple products purchases, will make these segment more visible and entice Consideration and Conversion.

What happened to the category? Premium personal care products grew sales as did buyer conversion and market share. 

My POV:

What should you do? I recommend investing in your category management, shopper insights, and retail optimization teams.  Having the right tools, data, and personnel is critical for success in today’s retail environment.

Challenge your teams today or visit our website CatmanAnalytics.com to learn more about how we can help you strategize your future.

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