Matt Powell Shares Key Strategies for Brand Success in Retail

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Photo courtesy of ENDVR

In a recent fireside chat with Matt Powell, a renowned sports retail industry analyst, ENDVR uncovered pivotal strategies that brands can leverage for retail success. Here are the top four insights from our discussion, aimed at transforming your brand’s retail approach:

  1. The Power of Physical Retail

Despite the rise in digital shopping, physical stores remain essential. Over 85% of consumers prefer purchasing new products in brick-and-mortar stores. Post COVID and as restrictions eased, the preference for in-store shopping surged, emphasizing the importance of physical stores as vital hubs for brand engagement and customer loyalty. Matt Powell highlighted that the tactile experience and immediate gratification of in-store shopping are irreplaceable. Brands must leverage this trend to maintain strong in-store presences and capture this consumer segment, ensuring they stay relevant and competitive in the market.

  1. Elevating Sales Associates

Sales associates play a crucial role in influencing purchasing decisions. Well-trained and motivated associates significantly enhance brand performance. Matt emphasized the importance of associates being knowledgeable and enthusiastic about products. Digital platforms like ENDVR can turn associates into brand ambassadors through effective training and engagement tools, leading to increased sales and customer satisfaction. ENDVR’s approach ensures that front-line staff are passionate advocates for the products they sell, helping increase your brand’s in-store impact.

  1. Enhancing Training with Technology

Integrating technology into training programs is transforming how retail staff engage with and absorb information. A survey by ENDVR found that 94% of retail staff sell more products from brands they are knowledgeable about. Matt emphasized the efficiency of digital tools in training, noting, “Digital education ensures a better-trained rep is more likely to push that product in store.” ENDVR’s multimedia training modules boost knowledge retention and sales effectiveness, making marketing efforts more efficient. This alignment with technological advancements is key to staying competitive in the fast-evolving retail landscape and ensuring your brand remains top of mind.

  1. Harnessing Real-Time Feedback

Real-time feedback from the sales floor is invaluable for brands managing multiple retail locations. Brands using real-time feedback see a 40% quicker response to market trends. Matt pointed out, “ENDVR’s platform allows brands to get direct insights from sales associates, enabling quick adaptation to consumer preferences and market changes.” This feedback loop allows brands to act swiftly based on reliable, up-to-the-minute data, enhancing customer satisfaction. Implementing these insights can lead to more agile and responsive retail strategies, directly correlating with improved market performance for your brand.

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Discover How These Insights Can Benefit Your Brand

Matt Powell’s insights highlight the critical role of training and technology in retail. Equip your sales associates with the tools they need to excel and watch your brand thrive by leveraging ENDVR’s innovative solutions.

For more in-depth insights from Matt Powell and to discover how these strategies can be applied to your brand, explore our resources hub. Feel free to watch a quick demo reel on how ENDVR can help your brand see the ROI when investing in your wholesale channel, and help you build a knowledgeable retail workforce that drives sales and delivers exceptional customer experiences.