Sales Strategy
Product Trials and Other Innovative Retail Sales Strategies From Top Brands December 05, 2023 (0 comments)
Hawthorne, CA--In the competitive retail sector, leading brands adopt innovative strategies to differentiate themselves and meet their marketing goals. The rapid evolution of technologies such as Artificial Intelligence (AI) and Machine Learning (ML) is prompting businesses to integrate these advancements into their operations.
[Photo by Christina Morillo via Pexels]
An article published in SalesTech Star dives into the retail sales best practices crucial for new companies to understand and implement to enhance their marketing strategies.
Encouraging Product Trials
A common hesitation among customers regarding new products is their effectiveness. While product descriptions generate interest, the actual decision-making often hinges on hands-on experience with the product. This is where the importance of product testing comes into play.
By offering customers the opportunity to test products, brands can help them assess the product's real-world performance and suitability. This practice is relevant across various products, from luxury vehicles to everyday household items. As mentioned in the article, a notable example is Maybelline, which sets up pop-up stores in malls and supermarkets, allowing customers to try their cosmetics firsthand.
Enhancing Customer Experience
Today's retail environment emphasizes building lasting customer relationships rather than solely on individual transactions. Exceptional customer experiences can lead to prolonged brand loyalty and valuable word-of-mouth promotion.
Per the article, brands like Desmond and Dempsey, a pajama retailer, exemplify this by using their online store to collect detailed customer information. They focus on ensuring comfort, an essential factor for their customers, and maintain this emphasis across all their platforms, including enhancing the unboxing experience for online orders.
Prioritizing Brand Transparency
Modern consumers, especially Millennials, value brand transparency regarding data use and societal contributions. Customers are more engaged with transparent brands, and a similar percentage is willing to pay more for products from such brands.
The article highlighted Girlfriend Collective, a well-known retail brand, exemplifies this by sharing transparency reports on social media, detailing employee and customer contributions to social causes.
Utilizing NFTs for Brand Loyalty
Beyond traditional discount offers, brands explore innovative rewards like Non-fungible Tokens (NFTs) to foster customer loyalty. NFTs, unique digital assets owned by a single person at a time, represent a novel approach to creating exclusivity and loyalty.
The article stated that Superplastic, a brand specializing in limited edition toys, is at the forefront of this trend, planning to restrict access to certain store sections and exclusive online purchases to NFT holders.
Check out more on these strategies in the entire article.