5 Strategies to Increase the Revenue of a Supermarket

Increasing the revenue of your supermarket is a relatively simple thing. After all, you’re selling everyday supplies and foods, which are essential necessities. You don’t have to explain why they need your products (everyone does), your main task is to give them a compelling enough reason why they should buy from you and not one of your competitors.

While some are quite direct and straightforward in their marketing efforts, there are a couple of subtler approaches that you could try out. Here are five such strategies that should help you increase the revenue of your supermarket quite effortlessly.

1. Organize products strategically

One of the ways to increase the appeal of your products is to try and psychologically lower their price by placing them next to their more expensive counterparts. For instance, if a product A isn’t selling that great and you establish that the reason behind this is price, one of the ways to handle this is to place it next to a more expensive product B. The trick lies in ensuring that product B provides less value for the same price. In other words, product B is not there to be sold but to make product A look better.

2. Use social media

Another thing you can do is use social media to display your products. Instagram, Facebook, and even Snapchat are perfect for this. Your videos, photos, and even captions are perfect platforms for expanding your reach. You can also use them to entertain, educate, or inform your audience, thus providing them with value, even before they start spending money in your supermarket. Keep in mind that interacting with customers, commenting, and answering their questions might be one of the key points in your community-building. Also, you might want to hire some help. Just remember that this is a responsible position and you want someone you can count on.

3. Add something extra

Diversifying your offer goes far beyond just refreshing it in order to stay competitive. By adding something unique, people might come for this one item (since they can’t find it anywhere else) and, while they’re there, they might choose to complete the list. For instance, protein crisps may attract your audience and then make them complete their grocery list completely in your store. Just make sure that you don’t run out of supply, seeing as how this might make them think twice before returning to your store. Overall, this is one of the simplest and most lucrative revenue-increasing strategies in the book.

4. Make a bigger cart

Another thing you can do is try to make your cart somewhat bigger. You see, people are impulse and subconscious buyers. This is why they might even get slightly annoyed at the idea of going to the register with a half-empty cart. What you’re aiming for is to make a cart slightly bigger so that it takes more to fill the cart. Sure, some people are using budgeting apps, others are calculating in their head, but the majority of shoppers simply make an approximate guess while filling the cart. The emptier it is, the more likely they are to keep adding.

5. Make them walk

You might have noticed that some stores don’t do a pretty good job of keeping all the articles from the same category together. Now, what if we told you that this is done on purpose. You see, if you scatter the same category across the supermarket floor, you’re making people walk across the place, thus exposing them to a greater portion of your supermarket. This increases the chance that they’ll notice something that they would completely miss and it increases the odds that they’ll make an impulse purchase.

In conclusion

At the end of the day, with so many options, increasing the revenue of your supermarket shouldn’t be too difficult. To make things even better, you don’t even have to spend too much money or effort. For instance, when using comparative prices, all you need to do is change the order in which the items are organized on your shelves. When it comes to your social media, chances are that you’re already present, now you just need to be a bit more active. In other words, it is extra effort, not extra investments that you need. A bit more research wouldn’t hurt either or even consulting industry veterans.