The Process of Store Reset Planning
What to Consider When Planning Store Resets
Are you experiencing a dip in sales? Is your store setup beginning to feel stale?
Perhaps it’s time to consider a store reset, which refers to the process of rearranging and reorganizing the layout of a store to create a fresh look, highlight new products, and optimize the flow of your store. In today’s fast-paced retail industry, effective store reset planning plays a crucial role in driving success and maintaining a competitive edge.
At T-ROC Global, we are experts in retail resets and are here to help your store soar.
Understanding the Importance of Store Reset Planning
A store reset can be immensely beneficial, but only if it’s done right. With the right plan in place, your store will have an exciting, fresh new feel.
The Purpose of Store Reset Planning
Store reset planning ensures that every product is placed effectively to attract more customers, whether within the cooler shelving of a grocery store or on the shelves of a retail location. The plan includes elements from shelf strips to item positioning. Resetting the store aims to make the best use of the retail space, improving product visibility and ultimately driving sales.
The Benefits of Effective Store Reset Planning
Effective reset planning enhances the customer experience, maximizes product visibility, increases sales efficiency, and updates the store’s layout to keep up with changing trends. Store resets also ensure the continuous update of retail inventory and the elimination of older or less popular items.
Key Challenges in Store Reset Planning
Despite the benefits, store reset planning can pose certain challenges. Major obstacles include a lack of customer data, constant market changes, a lack of adequate technology for retail space mapping, and the expense of reorganizing the entire layout. However, with the help of store reset experts, like those who lead T-ROC overnight reset teams, these challenges can be overcome.
Preparing for Store Reset Planning
If you’ve decided a store reset is right for your business, here are steps to prepare your team.
Analyze Historical Data and Trends
The analysis of historical data and trends is crucial when it comes to effectively planning a retail reset. This analysis involves assessing past sales performance, consumer behavior, and market trends to make informed decisions for the future. For example, if the data shows an increase in the sales of a particular product, it should be placed prominently on the shelf strips or cooler shelving.
Conduct Market Research
Market research is vital in understanding the current market scenario and predicting future trends. It helps in identifying key competition and consumer expectations. Information obtained through market research helps in the placement of products in the store, thereby enhancing the effectiveness of the store reset.
Identify Target Customers
Understanding the needs and preferences of target customers is essential for store reset planning. Knowing who shops at your store and being aware of their buying behavior helps you strategically organize the retail spaces. This leads to higher customer satisfaction and increased sales. For instance, for a grocery store that has a large number of young families as customers, retail resets should focus on creating a kid-friendly environment.
Creating a Store Reset Plan
Initiating a store reset project is a significant part of retail space mapping, paving the way toward retail digital transformation. Just like in any project, a well-structured plan lays the foundation for relentless execution. Here are several crucial steps in creating a store reset plan:
1. Set Clear Objectives and Goals
The first crucial step involves establishing the objectives and goals. Objectives might entail improved national coverage, efficiency in grocery resets, or an organized retail inventory – every retail service is driven by well-defined goals.
Unlike general goals, objectives should be specific, measurable, achievable, relevant, and time-bound (SMART). For instance, “increase national coverage by 20% over the next six months” is a SMART objective.
2. Establish a Timeline and Budget
A well-crafted store reset plan must include a detailed timeline in place to help guide performance, track progress, establish benchmarks, and ensure that all tasks are completed within the specified time period.
In the same vein, budgeting is vital. The budget should cover everything from acquiring new shelf strips to the costs associated with personnel training programs and providing all retail services. A solid budget ensures that the grocery reset or retail reset doesn’t put undo strain on the company’s financial resources.
3. Collaborate with Vendors and Suppliers
Vendors play a critical role in ensuring the success of a store reset project. They supply important items like shelf strips and shelving, ensuring that the grocery reset is seamless. Hence, fostering good relations with them not only ensures timely delivery but also potentially better prices and terms.
4. Allocate Resources Effectively
Effective resource allocation is crucial for the success of store resets. Resources, in this context, refer to manpower, time, and even shelf strips. Knowing how many resources to allocate to each task can be the difference between a successful reset and a seemingly endless project.
Implementing a Store Reset Plan
Communicating with Store Staff
Communication is critical during the store reset process. Whether it’s about changes to cooler shelving or shifts in the retail services schedule, staff should be adequately informed. Not only does this facilitate smooth operations, but it also ensures that everyone is working towards the same goal.
Training and Development Programs
Initiating training programs is important before, during, and after store resets. Whether it’s how to handle new retail inventory tools or basic store reset procedures, these programs equip staff with the necessary skills for a seamless transition.
Ensuring Inventory Accuracy
Irrespective of the scope of your store reset project, ensuring inventory accuracy is vital. Inaccurate retail inventory can lead to overlapping functions, misplaced products, and, ultimately, loss of revenue. Using modern inventory tracking tools can ensure accuracy while saving time.
Connect with T-ROC for Your Store Reset
At T-ROC Global, we do all the heavy lifting for you. We carefully plan and execute an effective store reset strategy, so you can wake up to an incredible store transformation. Our intensively-trained teams come in and execute your store reset for you, ensuring optimal product placement, navigation, and brand awareness.