Nestlé International Travel Retail (NITR) has unveiled its updated Perfect Store category management tool, based on the latest research on the Millennial generation and emerging middle classes.
According to NITR, Millennials represent 52% of travellers and 50% of all buyers in travel retail, with a worldwide spending power of US$13 billion. In China, 40% of the country’s travellers are Millennials. Based on these findings NITR believes there is a need to apply a category-wide approach to deliver growth and drive greater connectivity through an integrated digital solution.
The improved version of Perfect Store continues to follow a three-step approach: Insight, Action and Evaluation. NITR said Perfect Store enables retailers to develop impactful category activations centred on a number of areas: store layout, category segmentation, range management, category communication and cash till point optimisation.
Nestlé International Travel Retail General Manager Stewart Dryburgh commented: “Increasing store penetration, conversion and spend is crucial in challenging times. This can only be achieved through continual understanding of the evolving travel retail consumer, which is why NITR continues to heavily invest in research.
“These form an integral part of the Perfect Store, our game-changing model, offering retailers an insight-driven category approach that delivers sales growth while enabling the conversion of travellers into shoppers and shoppers to buyers.”
