As a result of technological change, the retail industry is going through turbulent times. Extensive market transparency, new competitors and increased product knowledge are creating an environment in which traditional retail cannot survive. Those who do not act now will not survive the storm.
More sustainable than striving for price leadership is upgrading the respective basic product to Product+. This means that the retailer offers extras and services with which the customer can individually enrich a product as required. This significantly increases relevance for the customer.
The idea behind Product+
- Identifying one’s customers today or the target customer tomorrow in detail becomes the key factor.
- Knowing the product with all its obvious features, but also using the features perceived by the market, becomes a success factor.
- The product+ will only convince the customer if it meets his need and preference in detail.
- Only those who sell their customers a product+ with the highest degree of fit can achieve attractive prices.
How to make your product+ a success
- Collect customer data in a structured way.
- Use your treasure trove of data to evolve into a product+.
- Align marketing and sales with product features that address specific customer needs and are rewarded in the market.
Consileon in the trade
We have technical expertise in building and analyzing customer data and years of experience in developing and implementing sales strategies in retail.
We support you in expanding your customer data, analyze your product range and develop your product+ together with you.
Put us to the test!