Following a period of extensive development, the Today’s Group will relaunch its category advice initiative, Plan for Profit, in an updated, retailer friendly format.
Research by him! highlighted that a large proportion of retailers are unaware of which products to stock, with less than half of all independent retailers knowing the top selling brands of wine and spirits, whilst a third of retailers could not identify the best selling lines of those heavily fragmented markets such as hot beverages and cigarettes. Over 50% of consumers interviewed claimed that ranges instore did not reflect their needs.
While other groups operate category advice schemes, the Today’s Group believes that basing its Plan for Profit guidelines on him!’s extensive research it is providing support which is actually wanted by retailers in their efforts to better meet consumers needs.
The scheme, which will be rolled out to members from November, will help drive sales and service for retailers, wholesalers and suppliers by highlighting the top selling products in each category.
Plan for Profit ranges will be communicated to members through leaflets advising retailers on the correct ranges to be stocked in each category. This will be supported with bespoke POS designed for maximum impact and installed in each depot. A trade advertising campaign will begin in November to further promote this valuable service.
“We have carefully analysed independent research from leading organisations such as him! and as a result have established a category advice programme which genuinely benefits the retailer and the rest of the supply chain,” said Raj Krishan, Today’s Group retail development director. “It is designed first and foremost to provide retailers with key advice on the must stock lines for their stores, and wholesalers the tools with which to dispense that advice.”
The 2011 Plan for Profit scheme has received positive endorsements from industry trade bodies and organisations. Mike Greene, CEO at him! commented, “Plan for Profit is an excellent scheme and it’s fantastic to see wholesalers doing more to deliver against the needs of their customers”
“For independent retailers, getting the right range in store is vital for all sorts of reasons. Plan for Profit recognises this, and that’s why the Federation of Wholesale Distributors is pleased to endorse this scheme. ” said James Bielby, chief executive of the FWD.