The report identifies News Corp., The Interpublic Group of Companies Inc., and WPP Plc among the top most important suppliers for in-store promotions procurement. Suppliers have a moderate bargaining power in a market that is set to grow at 4.13%. Therefore the price of in-store promotions will increase by 1.5%-3% during the forecast period.
Several strategic and tactical negotiation levers are explained in the report to help buyers achieve the best prices for in-store promotions. The report also aids buyers with relevant in-store promotions pricing levels, pros and cons of prevalent pricing models such as project-based pricing, value-based pricing, and time-based pricing and category management strategies and best practices to fulfill their category objectives.
In-Store Promotions Procurement: Strategies and Category Management
A targeted strategic approach to in-store promotions sourcing can unlock several opportunities for buyers. Still, we see that buyers have a pre-dominantly transaction-based approach towards the category and miss out on cost-saving opportunities in the absence of actionable intelligence on in-store promotions procurement market.
Strategic Sourcing and Enablers
During our interactions with category managers, it is often cited that buyers have a moderate bargaining power in the in-store promotions market. Our sourcing experts believe that a holistic category management approach can help buyers further maximize the value on their in-store promotions procurement. The report explains key category management objectives that should form the base for in-store promotions sourcing strategy, including:
- Cost savings
- Adherence to regulatory nuances
- Top-line growth
- Supply base rationalization
- Demand forecasting and governance
- Reduction of TCO
- Customer retention
- Supply assurance
- Category innovations
- Scalability of inputs
- Minimalization of ad hoc purchases
- Green initiatives
In addition to identifying the strategic goals and initiatives for the category management, it is also important to create the necessary support structure to facilitate their implementation. The report identifies multiple enablers that can help maximize the efficiency of in-store promotions category management.
This report provides in-depth inputs on streamlining your in-store promotions category management practices. Request for a FREE sample for detailed answers on:
- What should be my strategic sourcing objectives, activities, and enablers for in-store promotions category?
- Which negotiation levers can I pull for cost-saving?
- What are in-store promotions procurement best practices I should be promoting in my supply chain
In-Store Promotions Procurement: Top Suppliers
Leading global suppliers can assist buyers in realizing high-cost savings through their efforts on areas such as backward integration, supplier synergies, reducing total ownership cost, conference participation, managing commodity price volatility, negotiate on pricing and contractual terms, ad-hoc spend management, level of automation, and quality management. By collaborating with global suppliers, buyers can easily implement cost-saving and assure themselves of high-quality procurement of in-store promotions during diverse situations.
Key Suppliers and Supplier Management
This report offers key advisory and intelligence to help buyers identify and shortlist the most suitable suppliers for their in-store promotions requirements. Some of the leading in-store promotions suppliers profiled extensively in this report include:
- News Corp.
- The Interpublic Group of Companies Inc.
- WPP Plc
- Dentsu Group Inc.
- Catalina Marketing Corp.
- Quad/Graphics Inc.
- MacAndrews & Forbes Inc.
- Creative Channel Services LLC
- QWAMPLIFY SA
- Vanguard Marketing Services Group
Retail expertise, path-to-purchase planning capabilities, size and scale, and creative capabilities are some of the most critical parameters that buyers use to shortlist the suppliers in in-store promotions. Shortlisted suppliers must be carefully evaluated and scrutinized against business needs, technical specifications, operational requirements, security compliance, regulatory mandates, legal requirements, quality control, change management procedures, pricing models, penalty clauses, SLA nuances, acceptance criteria, and evaluation criteria and several other selection criteria described in detail by this report.
Request for a FREE sample for a complete understanding of in-store promotions supplier landscape:
- Am I engaging with the right suppliers?
- Which KPIs should I use to evaluate my incumbent suppliers?
- Which supplier selection criteria are relevant for in-store promotions?
- What are the in-store promotions category essentials in terms of SLAs and RFx?
In-Store Promotions Procurement: Pricing Insights
Suppliers in this market have moderate bargaining power owing to high pressure from substitutes and a moderate level of threat from new entrants. Therefore, it is extremely important to get the pricing and pricing model right. Buyers can benchmark their preferred pricing models for in-store promotions with the wider industry and identify the cost-saving potential.
For example, project-based pricing, value-based pricing, and time-based pricing are the most widely adopted pricing models in the in-store promotions. Each pricing model offers optimum benefits and fitment in specific situations. Buyers are advised to identify the model that suits their operations in the best manner and link supplier performance to the pricing models.
Price Strategies and Benchmark
Additionally, it is crucial to keep track of current and future in-store promotions price trends to completely optimize the value of the purchase, both from current cash outflow as well as overall cost and benefit perspective. The in-store promotions report expects a change of 1.5%-3% during the forecast period. Price forecasts are beneficial in purchase planning, especially when supplemented by constant monitoring of price influencing factors described in the report.
Pricing insights presented in this report cover pricing benchmarks and the trends and strategies that can help optimize cost savings. Request for a FREE sample to access the definite purchasing guide on the in-store promotions that answers all your key questions on price trends and analysis:
- Am I paying/getting the right prices? Is my in-store promotions TCO (total cost of ownership) favorable?
- How is the price forecast expected to change? What is driving the current and future price changes?
- Which pricing models offer the most rewarding opportunities?
In-Store Promotions Procurement: Spend Growth Analysis
The report provides a complete drill-down on global in-store promotions spend outlook at a global as well as regional level. Current spend scenario, growth outlook, incremental spend, and other key information is available individually for North America, Europe, APAC, Middle East and Africa, and South America.
Spend Growth and Demand Segmentation
The in-store promotions market will register an incremental spend of about $ 13 billion, growing at a CAGR of 4.13% during the five-year forecast period. Only a handful of regions will drive the majority of this growth. On the supply side, North America, South America, Europe, Middle East and Africa, and APAC will have the maximum influence owing to the supplier base.
The drivers and inhibitors that influence these global and regional outlooks are also elaborated in detail. Request for a FREE sample to access our in-depth growth decomposition analysis:
- Is this growth cyclical?
- When will the growth curve peak?
- What is driving the growth (or lack of it) in individual geographies?
- Which geographies hold the most rewarding opportunities for buyers and suppliers?
Category Pricing Insights
Category Management Strategy
Category Management Enablers
Suppliers under Coverage
US Market Insights
SpendEdge presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key category influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
Get your FREE access now!