𝐁𝐞𝐜𝐨𝐦𝐞 𝐚 𝐦𝐚𝐫𝐤𝐞𝐭 𝐥𝐞𝐚𝐝𝐞𝐫 𝐢𝐧 𝐲𝐨𝐮𝐫 𝐨𝐰𝐧 𝐜𝐢𝐭𝐲 🏆 I'm not a fan of numbers, but these figures are fun if you plan to grow 🔢 Let's say you have a kitchen store, and in your city, there's an IKEA. To keep it simple, let's assume that IKEA has a 5️⃣ 0️⃣ % market share for kitchens in your city, and the remaining suppliers share the other half of the market. In my city, I can think of three independent suppliers, but there are probably more. Let's say they each have 10% of the market, totaling 3️⃣ 0️⃣ %. Furthermore, let's imagine that the remaining 2️⃣ 0️⃣ % of the market is divided among 4 suppliers I can not recall, each having 5%. IKEA is unbeatable (almost), so you're fighting to take market share from the others. Through a continuous presence in your local online newspapers, you will, over time, position your store top-of-mind with the population, hence your brand will always be considered when the citizens need a new kitchen. If you're on the list of suppliers they think of effortlessly, they will drop by when they are ready to make a purchase. Since only 𝟝% of the addressable market is ready to make a purchase, brand awareness is everything! When they see that your store is busy 👥, they realize that your kitchen solutions are popular 😍 , and that creates trust. It's not the same to visit an empty store; that is uncomfortable and raises doubts. If over a period of 2-3 years, you build a strong brand with creative ads, you won't have to offer large discounts, thus achieving better margins than competitors - in addition to stealing market shares from them. Most businesses plan and work so short-term with their marketing that it's easy to take market shares from them. This will work for car dealerships, furniture, jewelry, and other expensive items we buy infrequently but mostly from a store in our area. Market share growth is the best metric to know if you've succeeded, and that's why Lyll soon launches a solution for consistent monthly advertising over time. 💫 Set an ambitious goal in the future and actively invest to achieve it. Good luck! #marketing #digitalmarketing #marketingforsmallbusiness
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👤💭Dive headfirst into the mindset of today's furniture shoppers with our latest report! Get a glimpse into their buying triggers, learn how they hunt for their next piece, and explore emerging shopping habits of younger generations. Get your free copy of "The profile of a modern furniture shopper" here: https://bit.ly/4dQYeLO
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📣 NEW ISSUE ALERT 📣 The December issue is always the perfect time to look forward to the year ahead and, given the uncertainty and inevitable changes we’re facing in 2024, we’ve done something quite special. We’ve taken an in-depth look at how the KBB market looks as we near the end of 2023 and, more importantly, how next year may shape up. We’ve asked a range of industry leaders and influencers to speak directly to you, the independent retail community, about the year ahead. What are their predictions for 2024? Where do the opportunities for independents lie and how can you make the most of each and every one? On top of that, of course, we have our regular features, including a very interesting shopfloor analysis that considers where retailers should draw the line on how far they should go on a project. In a tightening market, should you take any job, even if it is outside your comfort zone, or should you stick to your specialism of kitchens, bedrooms and/or bathrooms? We’ve also got a brilliant interview with one of the industry’s most high-profile designers, Johnny Grey, where he reveals all about the latest update of his Unfitted Kitchen concept. If you don't recieve a copy of kbbreview, click here to subscribe https://bit.ly/3QpzX6e
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To secure a portion of holiday spending, it's essential to prioritize the shopper experience as a key differentiator. #shoppermarketing #retailrelevancy #shopperexperience https://lnkd.in/eFB6a8A2
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Step into a world where every item has a story and every purchase is a conscious choice. Our latest Industry Insights focus on elevating artisan goods in retail spaces. Discover how thoughtful displays and a focus on authenticity can create not just a shopping experience, but a meaningful journey for consumers. Learn how you can elevate your retail space to showcase your brand's craftsmanship and individuality. https://lnkd.in/g4uddgqZ #retaildesign #retailspaces #interiordesign #industryinsights
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5 hacks to help you revolutionize your furniture buying experience. The new buyer's journey for retail is here, and it's all about convenience, engagement, and personalized service! Check out these key insights: Discovery and Awareness: Today's shoppers are researching products online, browsing social media, and checking out reviews. Your goal? Be the store they find during their research phase! Consideration: In the consideration stage, shoppers are comparing your store to others. Keep them engaged online with tools like design visualization and varied messaging across platforms. Decision: When it's decision time, make it easy for customers with dynamic website elements like social media icons and embedded reviews. Whether they buy online or in-store, guide them smoothly through the process. Customer Delight: Once you have a new customer, keep them delighted with personalized re-engagement campaigns. Technology makes it easier than ever to stay connected and top-of-mind for future purchases. Considerations for Vendors: If you're a manufacturer, ensure your dynamic content is easily accessible to retailers. Streamline the process of updating their websites with your latest products to boost sales and strengthen your brand. Ready to elevate your furniture buying experience? Embrace technology and personalized service to meet the expectations of today's shoppers! If you find this information useful. Like comment and share to spread it. #retailexperience #furniturebuying #omnichannelstrategy #furniturerevolution #experiencefurniture #shopsmart #modernliving #furnituregoals
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Outsourced/Fractional CMO (Chief Marketing Officer) helping business owners get 3x the marketing experience for 1/3 the investment of an FTE while mentoring in-house marketers to become more successful.
I scream, you scream, we all scream for ice cream...and retail store refreshes! Some go big budget while others are more modest, requiring much more creative thinking. Håagen-Daz's Marketing Director said, “We recognized that the brand hadn’t really evolved enough with cultural trends and consumer sentiment. It was time to redefine our definition of luxury and how we showed up in the market.” This comes on the heels of a recent forecast from Deloitte, which predicted that traditional stores will still make up 72% of all retail sales by 2024. Has your customer base evolved? Have you and your brand as a result? Perhaps it's time to have a brand strategy chat: https://lnkd.in/gEWaSaJJ https://lnkd.in/ecY4UQ8x #brandstrategymatters #retailmarketing #cmoinsights #incitecreative
Häagen-Dazs’ New Store Design Does Luxury on a Budget
adweek.com
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Check out the first installment of our Consumer Insights Now research into planned furniture purchases during the first half. Survey looks at what people are looking to buy, how much they plan to spend, where they plan to shop and much more! https://lnkd.in/g5cyjvSA
Consumer Insights Now research offers a window into consumer buying plans for the 1st half of 2024 - Home News Now
https://homenewsnow.com
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I scream, you scream, we all scream for ice cream...and retail store refreshes! Some go big budget while others are more modest, requiring much more creative thinking. Håagen-Daz's Marketing Director said, “We recognized that the brand hadn’t really evolved enough with cultural trends and consumer sentiment. It was time to redefine our definition of luxury and how we showed up in the market.” This comes on the heels of a recent forecast from Deloitte, which predicted that traditional stores will still make up 72% of all retail sales by 2024. Has your customer base evolved? Have you and your brand as a result? Perhaps it's time to have a brand strategy chat: https://lnkd.in/dQFWGfKb https://lnkd.in/ecMQ8u5W #brandstrategymatters #retailmarketing #cmoinsights #incitecreative
Häagen-Dazs' New Store Design Does Luxury on a Budget
adweek.com
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🎁 What will holiday shopping look like this year? Essentials reign supreme while bigger ticket items like electronics and furniture sales are cooling off. Buyers will prioritize food, health, and budget-friendly luxuries. How can higher ticket items keep up with these changes? 💡 KORTX Recommendation: This is the year to mix it up with diverse product options. Think about accessories for electronics and furniture. ➡️ https://buff.ly/3rgc3zN #digitaladvertising #digitalmarketing #retail #retailmarketing #ecommerce #digitalsales #marketing #advertising
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