How to Grow your Supermarket Business

1. How to Grow your Supermarket Business?

2. Index • Digital Marketing • Value-Added Services • Rebranding • Standard Operating Procedures (SOPs) • Inventory Management • Summary

3. Digital Marketing • Digital marketing can be cost-effective as well as a wider range of audiences can be reached by doing it • Digital marketing is the first sign going digital for supermarkets. • Once businesses experience some success with digital marketing, it is easy to consider taking the business digital • Good supermarket digital marketing strategy should take into account two factors search engines and social media

4. Value-Added Services • A successful example of VAS was the caller tune services when it was first launched and customers were willing to pay a premium price for it • For supermarket brands, value-added services such as home deliveries could provide them a big differentiating factor • Smaller supermarkets can offer free home delivery for predefined order value or a radius of distance • The policy should be fair, economical, and not complicated.

5. Rebranding • Rebranding is often used as a marketing strategy to leave a positive perceptive impact on customers • Customers may get used to seeing the same visuals of a supermarket which they visit frequently but rebranding will catch their attention •  Rebranding can involve experimenting with the brand logo, font and colors used, tagline, the theme of the store, etc • small positive perceptive change via rebranding can positively influence customers

6. Standard Operating Procedures (SOPs) • Internal operations of any business should always be robust • A grandly promoted ‘home delivery service’ will work only if the operations systems are created to make the service possible • SOPs are required at the operational level for all the departments of a supermarket business • The services of expert SOP consultants can also be hired to map the various processes and procedures.

7. Inventory Management • Inventory management is one of the biggest concerns for supermarkets all over the world • This aspect should be planned and executed to prevent inventory losses • Inventory management can make the inventory system more effective and efficient • There should be re-order levels for each product in the supermarket • These re-orders levels must be carefully decided based on demand forecasting, internal order processing time, delivery time, etc

8. Summary • With growing competition in the supermarket business, growth and expansion have also become proportionately difficult • Planning a supermarket expansion project now entails a multi-dimensional approach. • Digital marketing strategies, Re-branding and Value added services can attract more audience and will increase footfall at the store • SOP’s & Inventory management will result in smooth operations and systematic approach towards different factors • https://www.yourretailcoach.in/how-to-grow-your-supermarket-business/