Retail is an evolution of continual change, so create customer loyalty while providing a quality shopping experience with IGA Exclusive Brand. Learn how with this breakdown from IGA Exclusive Brand.
Know the category roles within your store
With retailers continuing to shift towards a consumer-centric approach, retailers can better understand consumer behavior towards categories by aligning internally around the role that each category plays in the shopping experience. This will help retailers to make tactical planning decisions that better meet consumer expectations.
- Destination—The retailer can profile themself toward their target consumers and differentiate themself from competition with this category.
- Routine—This category aims to provide consistent and competitive value for the consumer’s everyday needs and places the retailer as one of the preferred category providers.
- Seasonal—This category refers to products that are not purchased on a regular basis but occasionally.
- Convenience—This category completes the retailer's assortment of products that are not usually found on a routine shopping list.
- Convert consumers with an optimized assortment mix to drive top and bottom line results.
- Limit the amount of private label options on shelf so there is less confusion. We recommend a maximum of two private brands depending on category.
- Are your categories providing you with the following strategies?
- Traffic Building
- Transaction Building
- Turf Defending
- Generating Profit
- Enhancing Image
- Developing Excitement
With effective promotion execution, retailers can drive consumers to purchase while communicating the demand and value of the IGA brand.
Do you promote the IGA brand every week?
- Create themed endcap.
- Stack your endcaps high and let them fly.
- Ensure out-of-stocks are limited.
- Use specific areas in your store to showcase what is in the National Digital Ad.
- Ensure your pricing is competitive against the national brand.
- How wide is the pricing gap?
- Typically $0.50 to $1.00 is a good place to start
- Bulk size $2.00+
- What is your benchmark margin for IGA brand?
- Do you have a tiered margin strategy by category?
- Are you an EDLP, High Low, or Hybrid EDLP pricing model?
- EDLP—Are you the lowest price anytime, anywhere?
- High-Low—High refers to the everyday price, and low to the deeply discounted or sale price.
- Hybrid EDLP—This in-between option refers to selling some products at a lower-than-market everyday price along with periods of discounting that do not go as deep as high-low.
- Set aside an area in your ad for the IGA Exclusive Brand corner.
- Be proud of your brand!
- Educate your shoppers on the quality and value of the brand.
- How many facing does your IGA brand get on shelf?
- The better the margin, the more facings you should have.
- Are your IGA items eye level and brand blocked?
- Is there a clean vision to your consumer of where your own brands are on shelf?
- Refresh your planograms quarterly if not more.
- Don’t set your planogram and forget about it.