2016 is set to be a big year for sports, this June will see UEFA Euro 2016 kick off in France, followed by the Olympics in Rio this August. So it’s time to put the wheels into motion and ensure you smash your sales goals this summer.
The 2012 Olympics saw a significant increase in FMCG results over an eight-week period. Not forgetting 2014’s FIFA World Cup, which witnessed consumer spend in the UK rise at its fastest pace in four years thanks to a spending splurge by football fans on food and drink in supermarkets and pubs, as well as an increased buying of sports goods.
But what will the retailers be doing to capitalise this summer? How can brands be sure to increase their sales and opportunities in this time?
For retailers, the summer months will be focused on heavy promotional activity. During this time stores will be looking for significant volume uplift driven through multi-buy and price promotions.These are perfect for events such as Euro 2016 when there is a high-pressured sales period and a need to combat competitor activities. This type of activity comes at a high cost, which usually falls straight onto the brand, therefore store buy-in and strong execution at shop floor level is crucial to make it a success.
More than ever timing is crucial to succeed – this will come down to the hour – store activities and promotions will be rolled out nationwide. But it’s the role of the brand ambassadors and retailers to note when peak times or games are happening that will peak the consumers interest. It’s during these times that activity and footfall will be heightened substantially. Therefore stock volume, availability and visibility will be key.
Out-of-stock situations cannot occur during this time, brands and retailers need to be working closely together to gauge the amount of extra stock required and which dates it needs delivering, this will ensure maximum availability and the least amount of wastage.
Proper planning, effective store management, the implementation of in-store theatre and merchandising are all key to make an impact and deliver increased rate of sale. It’s this level of engagement, maintenance of displays, support in-stores and guaranteeing visibility that will ensure a brand succeeds during a heightened sales period such as the Rio Olympics.