Private Label Buyer

Quick Trips Important For Retailers To Consider, Speaker Says

June 7, 2012

Quick trips are very important for retailers to consider as they represent almost two-thirds of all shopping trips, Terry Lee, founder of Private Brand Advisors told attendees during his keynote speech at PLBuyer’s conference Private Label: The Next Generation, Wednesday, June 6, at the Hilton Chicago.

Lee shared that 16 percent of shopping trips across all retail channels involve the purchase of only one item; 34 percent of all shopping trips represent the purchase of only two items and 50 percent of all shopping trips represent a purchase of five or less items.

“If you put that into context of the number of items typically within a retailer, it’s amazing how many shopping trips are comprised of a relatively small number of items," says Lee.

The key things that retailers need to concentrate on are:

  • Focus on the right categories and price
  • Understand your consumers value equation
  • Offer marketed, differentiated products.
  • Find the right mix of products
  • Avoid the slippery slope of quality
  • Think and act as brand marketers