Dear Independent Liquor Retailers: ‘Tis the season to grow revenue — using Loop Insights
Today, consumers hold incredible power over the retail market. With so many options to buy a certain product at a great price, people are looking for shopping experiences that are seamless and memorable. For that reason, independent retailers need to embrace a customer-centric strategy to remain competitive. Using Loop’s real-time insights on BC’s liquor industry, we’ve compiled some data-driven solutions to steer your merchandising towards consumer preferences and ultimately greater spend. Got a pen?
Displays to Grow Basket Size & Value
1. Top Liquor Brands and Pairings
Rather than displaying holiday crowd-pleasers on their own, have beer or wine that are commonly paired with them in arms reach to increase basket size (without any pressure coming from staff).
2. Food and Beverage Pairings
The holiday season is all about indulging. Stand out by preparing displays according to food pairings and occasions. Use bold signage to attract these foodies!
Luxurious eggs benny brunch: Bubbles
Locked & loaded charcuterie board: Easy-drinking whites, light beers
Luxurious eggs benny brunch: Bubbles
Locked & loaded charcuterie board: Easy-drinking whites, light beers
Turkey dinner and all the fixings: Full whites, light reds, saisons
Dessert & fireside cocktails: Stiff liquors, sweet liqueurs
Turkey dinner and all the fixings: Full whites, light reds, saisons
Dessert & fireside cocktails: Stiff liquors, sweet liqueurs
3. Popular Premium BC Wines for Gifts
Wine as a holiday gift — a tale as old as time. Here in Vancouver, many like to support local companies because it attaches a greater story to the product. Market your best-selling BC wines as community-boosting gifts for loved ones.
4. Display Bulk Buys with their Premium Pairings
What about the dinner party-turned afterparty, or staff holiday events that require economical bulk buys? Sure, people know their way to a 24-pack of cheap beer, box of wine, or 40oz of vodka. But typically, holiday-goers like to grab a nice bottle of beer or wine to start with — easily upsell by having them close by. Here’s Loop’s suggested pairings:
5. Deck Out your Check Out
In store, impulse shopping is alive and well, according to a study by First Insights Inc: 89 percent of women and 78 percent of men who visit brick and mortar stores shared that they add additional items to their cart beyond their identified need.Brick and Mortar vs. Online Impulse Shopping by GenderBrick and Mortar vs. Online Impulse Shopping by GenderTake advantage of this edge! Revamp your point of transaction with seasonal miniature bottles, accessories, mixers, etc., to build that basket even more.
Final Thoughts
Pull your customers towards these points in your store that encourage quick buys, while simultaneously increasing spend.
Have these displays near the entrance. Make them eye-catching. Create signage that’s engaging. Provide tasters of the featured products.
The holiday season is a great time to get to know your community, and create a retail experience that will bring people back in the new year. We hope these suggestions will help you impress your local customers — to not only grow short-term sales, but also long-term loyalty! Download Merchandising Tips
Final Thoughts
Pull your customers towards these points in your store that encourage quick buys, while simultaneously increasing spend.
Have these displays near the entrance. Make them eye-catching. Create signage that’s engaging. Provide tasters of the featured products.
The holiday season is a great time to get to know your community, and create a retail experience that will bring people back in the new year. We hope these suggestions will help you impress your local customers — to not only grow short-term sales, but also long-term loyalty! Download Merchandising Tips