October 28, 2021 | 01 min read
If you head out to buy a bag of chips in an Indian city, there’s a high chance you’ll come across at least 5 brands in a 5 minutes radius, all selling the same or alike versions of the packet of chips you desire.
Still, even with options galore, most consumers know exactly what they want, especially in matters of food. And if they don’t find it around, many are willing to travel the distance to find it where it’s available.
Sounds like brand love? While it might seem like brands are creating brand loyalists who would go beyond their convenience to find their favourite products, it’s indeed a retail leakage, one where the consumer is not being able to satisfy their needs easily, and hence needs to travel to a nearby location to satiate it. But if a consumer needs to pay more or double the MRP price to consume a product, aren’t both the consumer and the brand at a loss?
Similarly, many Kirana stores today lose out on market share simply because consumers are finding the same products easily at large supermarkets.
For FMCG brands catering to millions of end-users, such blockages can be detrimental to market growth. Brands want retailers to sell more and stock even more than that. Brands want to meet demand at every outlet where it knocks.
In order to capture this demand more precisely and remove these retail leakages from the business, there needs to be a way to inform customers where products are available. Bizom’s Find My Store is one solution just like that. A one-click location-enabled store locator for consumers, which is bringing multifold benefits to retail companies.
Used by leading FMCG brands like United Breweries to enable their consumers with nearby store locations, Find My Store works across all regions, helping brands bring the demand to their doorstep.
At the core, this tool enables end-users to quickly locate stores of the brand near their current location and find the directions and contact information of every store near them.
But for CPG brands, this solution also lets them answer to local untapped demand, which can be recaptured to grow the market while indicating how well the retail needs of each sales territory are being met. Further, by analysing the search results made by end-users, FMCG brands will also get a more accurate measure between actual and potential retail sales which will help them discover more demand in the region.
Find My Store was originally built post-pandemic, to help end-users find products easily without travelling irresponsibly. But the tool soon transcended to become a part of the brands’ strategies, helping them understand and track markets more precisely.