What Is Retail Execution?
Retail Execution is the activity of implementing and executing strategies across store locations. This includes merchandising, in-store marketing programs, fulfillment, interaction with customers, assisted sales, store planning and planograms.
Who Is Involved?
Multiple parties are responsible for store execution. In most retail locations, store execution is the result of the collaboration of the retailers, consumer brands, and third-party companies such as merchandisers, and field marketing companies.
Why Does It Matter?
Retail is transforming. In order to stay competitive, retailers need to provide superior in-store experiences to their customers. This includes having the right product on shelves, having stores that are easy to navigate, and knowledgeable sales associates that are available to guide and advise customers. In other words, retailers and brands must deliver perfect retail execution.
What Are the Challenges?
One of the challenges of delivering perfect field execution is diversity of the workforce involved in the execution. As mentioned earlier, retailers, brands, and marketing agencies are responsible for field execution. In addition, distributed workforces responsible for store execution are composed of full-time, part-time, hourly, and "on-demand" staff. Some of this staff rarely has "face-to-face" time with their managers.
Another challenge is the lack of visibility. Managers, marketing leaders, and visual merchandising leaders can have difficulties assessing the completion and success of in-store programs.
Most companies rely on retail execution software to help them streamline communication and task management, and optimize compliance and project completion.