We’re always thinking, sharing, and debating.

Sep

20

Industry veteran Chuck Somborn joins Premium to spearhead Walmart business.

SAINT LOUIS, MO – Walmart has selected Premium Retail Services (Premium), a fast-growing retail strategy, merchandising, brand advocacy and support firm, as a Preferred Service Provider in its Merchandising Service Program.

Premium is pleased to be one of only five companies in the industry to have earned the Preferred Service Provider designation. The new program seeks to centralize Walmart’s merchandising practices by utilizing certified, Walmart-dedicated representatives to perform merchandising work exclusively in Walmart stores. Ultimately, this model will help deliver greater consistency for Walmart and its supplier community while providing its customers a better in-store experience.

Premium’s desire to innovate and tailor a unique approach for each client continues to set us apart. We are challenging traditional models every day, and our clients are finding success in moving away from ‘hand-me-downs.’

Premium’s Owner and CEO Brian Travers explains, “Premium’s desire to innovate and tailor a unique approach for each client continues to set us apart. We are challenging traditional models every day, and our clients are finding success in moving away from ‘hand-me-downs.’ We are so humbled that Walmart has selected us as part of this elite group and we are excited to continue to invest in our clients and their success at Walmart through hard work and thought leadership.”

Premium has also announced the hire of Chuck Somborn as General Manager of its Walmart business. Chuck spent ten years with NIS/CPM US, a DAS Omnicom company where he served as CEO of the US operations and CPM Group Global Board Member. He also owned LARC Associates, a retail consulting company. Previously, Chuck served as COO of National Product Services, EVP/President of Special Markets Division for Crossmark, and worked with organizations such as Day Dream, Inc., Willis Johnson Company, Sales Mark/Alpha One, M&M/Mars and Beecham Products (GSK) servicing Walmart and Sam’s Club.

Of the hire, President of Sales and Marketing Bill Campbell says, “Chuck’s incredible knowledge about not only retail merchandising, but also the nuances of the Walmart community will be a game changer for Premium in Bentonville, and we are pleased to welcome him to the Premium family.”

Chuck will be based in Premium’s Rogers, Arkansas office and lives in Bentonville, Arkansas with his wife LeAnn.

View press release here.

Aug

9

On August 19-22, Premium executives will travel to San Diego, California to attend the Total Store Expo presented by the National Association of Chain Drug Stores (NACDS). Premium attends this event every year to network with the top minds in the drug store industry and to preview the latest innovations and trends. Joining in key discussions and meeting chain drug store professionals gives Premium an advantage in the drug stores with which we partner.

With over 30 years of experience in the drug store industry, Premium has pioneered key retail execution programs, strategies and best practices for more than 100 drug store suppliers. Our extensive experience includes building a systematic process to improve category adjacencies, new item speed to shelf and overall front-end sales growth in poorly performing independent drug stores as well as determining effective utilization of incremental merchandising dollars.

Attending events like the Total Store Expo inspires Premium to continue developing tailored approaches and leveraging strategies that extend the reach of the innovative brands with which we partner.

We invite you to come visit our booth (#1349) and meet with our drug channel veterans. See you in San Diego!

Aug

1

Retail is changing faster than ever, but the importance of fundamentals still holds true.

As the list of victims of what many are calling the 2017 “Retail Apocalypse” continues to grow, retailers and manufactures find themselves scrambling for answers in a fast-changing landscape. According to a Pew Research survey, roughly eight in ten Americans are now online shoppers, and 15% buy online weekly. Many brick and mortar retailers attempt to combat this shift by investing in revitalizing the shopping experience with new store layouts and expanding assortments. However, many overlook one of the biggest brick-and-mortar basics: ensuring products are in-stock and on the shelf.

Minimizing out-of-stocks and maximizing on-shelf availability is an attainable goal that is becoming increasingly lost in the shuffle at retail. According to the Path to Purchase Institute, some estimate that nearly 10% of sales are lost due to out-of-stocks. For retailers and the manufacturers selling products in their stores, this amounts to billions of dollars each year.

According to Retail Dive, 62% of shoppers still choose to purchase in retail stores over e-commerce so they can see, touch, feel and try out items. In addition, 49% of consumers say they choose stores over the web because they want to take items home immediately. Clearly, consumers still appreciate the tangibility and immediacy brick and mortar stores offer, but they can’t get that if the product is stuck in the backroom. They’re also unlikely to purchase if the product is priced incorrectly or is on an unappealing, unmaintained display.

A solution for manufacturers.  

Job one is getting back to basics through effective merchandising. By focusing on driving efficiencies with improved supply chain practices, new technologies, and tailored merchandising programs, retailers, manufacturers and consumers win. Effective displays, organized products and stocked shelves draw consumers to products, bringing them ever closer to picking it up and taking it home, fulfilling their expectation for immediacy.

Leveraging an experienced merchandising partner with scale and expertise can help eliminate these holes. If your partner is nimble enough to anticipate and adapt to the changing landscape, tailors merchandising strategies based on your specific retail needs, and has the infrastructure to propel your brand to new heights, your product will thrive in brick-and-mortar stores.

For over 30 years, Premium has been that partner for some of the most iconic brands in retail.