You can improve your focus on Shoppers – through the work that you complete in category management.
Shopper focus can improve in your work through:
Understanding the Shopper is a priority for most of us. By building your skills, you can consider different approaches to understand and reach the Shopper, ultimately creating more effective solutions that build Shopper satisfaction.
From Slice Intelligence: “What is Glossier’s formula for success? That is the $52 million-dollar question for industry watchers after the beauty upstart closed its recent round of funding. Slice Intelligence data reveals some answers--most notably that Glossier’s revenue increased by 99.1 percent in the last year, as the buzzy Millennial brand attracted an 86.7 percent increase in buyers over the same period. Not too shabby for a company that started with only four products in their beauty arsenal’’
From WWD: “For most consumers, the in-store shopping experience is best when they’re given a lot of space. That’s one of the key findings of a just-released consumer survey by HRC Retail Advisory, which polled 2,900 shoppers in North America.’’
From Euromonitor: “With a stronger global economy, in 2018 consumer expenditure is expected to grow at its strongest rate since 2011. Yet shifting consumer attitudes and behaviours will continue to cause disruption for business in 2018, with mobile technology and internet accessibility playing a key role in shaping these changes."
From Retail Leader: “Retailers and brands have to figure the future out fast, faster than consumers and competitors, to be relevant in a world reshaped by the forces of technology, lifestyle choices, new shopping behaviors and attitudes toward consumption."
From Nielsen: “While the food retail landscape isn’t one that sees an over-abundance of frequent, market-shifting innovation, meal kits are proving to be just that. In just a few short years in fact, they have carved out a unique—and profitable—niche in the U.S. grocery landscape."
From Hartman Group: “The single biggest narrative underlying grocery shoppers’ evolving behavior is their belief that their lives are ’more chaotic and hectic than ever before.’ Shoppers today are feeling increasingly time-constrained.’’
From Shopify: “Remember when augmented reality (AR) was a pie-in-the-sky idea? Even just a few years ago, AR caught our attention mostly due to its 'cool factor.'
Now it’s becoming more of a reality...’’
From Nielsen: “Finding total store growth has been a challenge over the last year. Despite this challenge, pockets of growth do still exist across the store, and many are being driven by consumers’ desire to live healthier lives and choose better-for-you foods and beverages over conventional products’’
From Acosta: “Research released today in the 14th edition of The Why? Behind The Buy™ from Acosta … provides insight into how each generation is changing the grocery landscape and how brands and retailers should adapt.’’
Category Management and Shopper Insights/Shopper Marketing have parted ways in many organizations. Shopper Marketing reports to Marketing. Category Management reports to Sales. According to new industry standards, this is not the best way to set your organization up for Shopper success. Read more.
So why should we incorporate the Shopper into just about everything that we do? According to the CMA’s recent CatMan 2.0 initiative, “Good category plans that incorporate Shopper insights frequently result in double digit sales & profit gains for manufacturer and retailer categories.” Read More
So you’ve experienced a sales or share growth or decline and want to understand what drove those results. This search for cause is something that happens in our business all of the time. The typical place to look is in your scanned sales or key account/market data. But did you check your household panel data? Read on to learn more.
Below is a complimentary resource to help get you on your way.
Consumer panel data is an important data source that provides perspective on the Consumer and Shopper in many different ways. As a CatMan practitioner, you should have a good understanding of this important data source.
It’s a great conference where professionals, leaders in retail, manufacturing, universities, and solutions convene to collaborate, network, learn and grow. It includes several days filled with content, networking, education, training, and relationship building.
Meet with your category management and shopper insights peers to help you grow your business and network with other attendees so you are ready to connect, gain insight and prosper in 2018! Learn more & register here!