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Sunday, October 30, 2011

Must Have SKU's

I recently visited an ice cream store to buy a family pack to treat my friends visiting home after a long time. What caught my attention being in the retail field is quite interesting. On the freezer which serves as a gondola was a poster from one of the famous ice cream manufacturers which said "MUST HAVE SKU's". This poster contained some of the hot selling flavors available in various packaging and sizes like the Bars, Cups, and Family packs. It also indicated the size and price of those items.

Now the important question - What purpose does it serve by displaying this poster. It could actually work wonders and it is a win win situation for all stake holders involved like the Ice cream Manufacturer, the Retail Store owner as well as the Consumer

For a customer by looking at this poster he can actually decide which are the best icecreams available in the shop and eases his selection making process especially when there are so many flavours to chose from with all the fancy names quite difficult to comprehend the contents in the icecream with its name.

For the Retailer he can make sure this must have SKUs are always replenished to suit the demands of the customers and never run out of stock or a lost sale opportunity

For the Manufacturer he can consistently push his fast moving items and high margin SKUs to the retail shops there by resulting in high price realization and achieve economy of scale in production to improve his supply chain efficiency, sales and bottom line.

Amazing a small poster can be such a source of innovative retail strategy creating a win-win situation for all stake holders part of the value chain

Cheers
Spacedpractice.com

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