Are you running your retail display program right? There are a bevy of players and pages of plays. This three-part series checklist should help guide your team through the game of running a winning retail display program.
PART II: Budget & Timing
Retail Display Program Budget: Are Your Eyes on the Money?
☑ Have you established a budget for your retail display program?
☑ How much will it cost to ship the prototype or first article to your location for review; or to ship from the manufacturer to the distribution center; or from the manufacturer directly to each store?
☑ Are there slotting fees, advertising allowances, product replenishment costs or other costs associated with assembling, installing and maintaining the display unit(s) in each store?
☑ Have you considered the value of the product versus the cost of the display?
☑ Is there leeway in the budget for the higher cost of rush jobs?
Establishing a budget helps the design and engineering team map out the type of materials they can work with, what vendors to work with, the design itself and more. Without these financial boundaries, it can be difficult to focus in on where to start. There are more things to consider in the budget than just the unit price of the display. There’s the cost of shipping, the retailer’s fees and the cost of rushing the job if things do not go as planned. Retail display programs have many moving parts, so it’s always good to plan for things not going as planned. Rush jobs mean expedited shipments. An expedited air shipment of a fully assembled display from a manufacturer in China can be a pretty hefty price to pay. If your program runs behind schedule, you may not have a choice. Additionally, rush jobs can severely effect the quality of the display which is why padding your budget as well as your schedule is so important. Which brings us to timing…
Retail Display Program Timing: What’s Your Winning Strategy?
☑ When do you want it displayed in the store?
☑ Is the in-store date realistic, taking into consideration the approval process of the retailer and the time it takes to design, engineer, manufacture, and ship the display to the stores?
☑ Is there a promotion for the product?
☑ Is your schedule in line with your product’s selling seasons?
☑ How long will it be displayed in the store?
☑ Are there easy-to-read instructions for assembling the display?
☑ Have you considered how much revenue will be lost by delaying the scheduled launch of the retail display program?
Timing is of utmost importance when it comes to your retail display program. The retail displays, the retailer, the shipping companies and the product itself must all come together on schedule to get the highest return on your investment. Particular products sell best at certain times of the year. Because there are many layers to deal with, your retail display program can severely veer off schedule, causing your product to miss the start of its selling season. Creating a strategy with the worst case scenarios in mind will minimize damage to the bottom line.
Coming Soon…Part III: Your Team & Store Placement.
Click here for Part I: Target Audience & Design.
Do You Need Point of Purchase Displays?
If you, or your company, are new to the world of Point of Purchase Displays, and you are looking to create a program for your company or product, let Concept Designs help. We have over 20 years experience designing, engineering, and managing the production of custom retail displays. We would love to hear from you.
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