Maxxium UK is launching Know Your Store, a guide to maximising spirits profits specifically in the impulse channel.
Know Your Store, which is based on insight into how convenience shoppers buy their spirits, is a five step guide to building business, and supports the independent retailer to grow overall sales.
Following a collaboration with independent research agency, him! Maxxium UK has identified that a retailer who can convert 10 existing shoppers into spirits shoppers every week could generate an additional £5,699 spend per year.
SLR’s Woodlands Local store also played a small role in developing the guide, when Maxxium used it for testing purposes.
According to Know Your Store, spirits shoppers spend more time and money in convenience stores, spending on average over £10 more than other shoppers. To help retailers make the most of this opportunity the guide covers key issues, from identifying an outlet’s customer base to revamping the merchandising structure. Know Your Store also offers category insight, the latest on trends and also tips and advice on how to make the shopping experience more convenient.
Maxxium’s Customer Marketing Controller, Chris Richardson, said: “Know Your Store has been designed with input from retailers to ensure that it is easy to use. It will help customers analyse their business and secure untapped spirits sales.”
The guide explains that success starts with getting to know customers and what they are looking for. It also identifies that merchandising is key, with almost 80% of spirits shoppers keen to see commonly purchased items, such as gin, ice and lemons, merchandised together. It recommends using POS to highlight complementary items to make store visits easier for the customer and more profitable for the retailer.
Know Your Store encourages retailers to review their spirits range regularly and refer to the guide to re-design their merchandising planogram. The guide also suggests that retailers identify their point of difference to make them stand out from the competition.
Richardson concluded: “Through Know Your Store, Maxxium UK is helping retailers provide the best impact in store and become specialists in spirits. We have used our expertise and insight to provide practical advice to help retailers increase spirits sales by thousands of pounds each year.”
Retailers wishing a Know Your Store booklet and the Guide to Spirits – which can be used by retailers to increase category knowledge – should email the store’s full postal address and details to firstname.lastname@example.org.