How Members Set Their Stores Apart
May 10th IndieChat Recap
Our May IndieChat attracted a sizeable group of retailers ready to share and learn new ideas for how to set their stores apart (from the competition).
If you are new to IndiePet’s IndieChat forum, it is our platform for retailers to learn about and share ideas, best practices, processes and more for running a successful pet retail business. Sessions are typically led by an IndiePet associate member topic expert. IndieChats are open to all retail members.
Our discussion leaders for this session, Angela Pinkstaff, Director of Business Development, and Angela Nicloy, Director of Marketing for Hamacher Resource Group (HRG), focused the conversation on three distinct ways retailers can help their stores can stand out from the competition:
product assortment,
services, and
community involvement.
The retailers on the call represented a variety of business of sizes, from single store owners to the operator of a larger multi-store chain, and from small, strip mall locations to sprawling former farm stores.
The discussion kicked off with our moderators encouraging the group to share how they learn about new and trending products, how they evaluate their product offerings, and whether they used industry data reports such as those provided by SPINS or NeilsenIQ (both current IndiePet data partners) to help in their decision-making. They do.
One retailer described his business’s investment in a professionally administered shopper demographic survey and noted that while it was not inexpensive, the insights they gained have been valuable.
Demographic studies provide information on who shoppers are and what they find important, and can help retailers fine-tune their product mix. Another retailer noted that her shoppers tended to be well educated and had often had a high level of knowledge and interest in comprehensive supplementation for their pets. This information not only helped direct product mix, but suggested she provide greater levels of training for her staff on supplement usage.
The conversation continued with our moderators asking participants to share what products they observed to be trending in their market areas and how they effectively merchandised new and trending products. Several participants noted a strong interest in gently cooked foods, holistic products, supplements and treats and an interest in senior-pet products.
For merchandising, manufacturer supplied point of purchase displays, shelf signs, store fixtures, and couponing were popular options, though it was noted, printed coupon mailers were not as effective as emailed coupons. Email campaigns were also found to be effective in collecting feedback from loyal customers.
The group discussed product sales representatives’ role in helping provide insights on hot and not-so-hot products, how to make the proper space adjustments for hot items and what to do with items that are not moving.
Are you a retailer or know of one who wants to join a great discussion like this one? IndieChats are open to all retail members. If you’re not a member, we invite you to join today!
HRG then introduced services as a tool to drive traffic and gain new exposure. Participants shared services they currently offered or were considering including, dog training, veterinary, grief counselling, pet insurance, pet photography, and crafting workshops for pet related items. Several participants offered home delivery in various forms including free delivery made by the store owner to third party pay-on-delivery services. For stores with limited space or expansion capacity to add in-house services, the idea of teaming up with outside providers to offer services was presented as an option. This discussion led to community involvement as another way to differentiate one’s business.
Participants in this IndieChat were quite active in their individual communities, holding fun holiday themed events such as Easter egg hunts and Halloween parades (with people and pets in costume), hosting adoption events and participating in pet-related fundraisers. A food-truck style adoption promotion was mentioned – with adoptable pets being featured along with the meals being served. Even just inviting a food truck to park in front of a store was suggested as a way to bring more people around. We’re sure there are plenty more opportunities for community involvement, but we ran out of time!
Thank you to Angela and Angela from the Hamacher Resource Group for facilitating this IndieChat. If you’d like to view the slides from the chat, you can find them here.
Our next is July 12th and will focus on how technology can be leveraged to elevate your business. Hope to see you there!
