January 2024
Happy 2024! I hope that you are off to a great start to a great new year!
It's incredible to reflect on how the landscape of retail and consumer goods has transformed in the past several years, particularly since the onset of the pandemic. I've observed a remarkable shift in shopper behaviors and technological advancements across many different categories and clients that I work with.
The way we interact with customers, manage 🚚supply chains, and even predict 📈market trends has undergone a seismic change. Consumers, now more than ever, are gravitating towards digital platforms for their shopping needs. This shift isn't just about convenience; it's a fundamental change in lifestyles and preferences. Our reliance on 🌐online shopping, curbside pickups, and virtual customer service has skyrocketed, pushing us to innovate and adapt at an unprecedented pace.
But it's not just about shopping behaviors. The 💻technological💻 landscape has evolved drastically. We've seen an increased reliance on artificial intelligence to personalize shopping experiences, manage inventory, and even in decision-making processes. New data sources have emerged, providing us with insights that were previously unimaginable. This data-driven approach has become integral in understanding and predicting consumer behavior.
In today's dynamic environment, it's crucial to develop strategic and 🤔critical thinking skills. We can no longer rely solely on senior management for solutions. Each of us must cultivate these abilities to navigate data, complex scenarios and contribute to our organization's growth. Embracing training and education is essential for staying ahead. Whether it's learning about AI tools, understanding consumer behaviors, learning how to turn data to insights, or creating better stories, continuous education is key to success in this ever-changing landscape. Here's to relevant and engaging learning for all in 2024!
Warm regards,
Dive into learning by staying updated with industry buzz, shopper changes, and emerging trends! Boost business savvy, have engaging conversations, and make informed decisions. Share articles with your manager, spark discussions with peers, and embrace continuous learning. Explore our top posts from the past few months and join the excitement!
Check out our most popular posts in the past few months!
From National Retail Federation: This article provides a comprehensive outlook for the retail industry in 2024, focusing on various factors like artificial intelligence (AI), consumer behavior, technological advancements, and societal trends.
From Forrester: Google's Tracking Protection feature has been rolled out, marking a significant shift in digital advertising, and compelling consumer goods and retail industries to fundamentally rethink how they collect, analyze, and utilize consumer data. This change demands a strategic pivot towards more privacy-centric, diverse, and innovative approaches to data collection and advertising.
From Nielsen IQ: We eagerly anticipate Nielsen IQ's annual trend reports. This report explores how the financial crisis has changed consumer habits, with people now recreating takeout at home and finding grocery deals on TikTok. Calculated spending and money-saving budgets will continue in 2024, with private label brands surpassing national brands in various categories.
From Sue Nicholls, CMKG: Overcoming my own personal hardships and professional challenges, I've grown stronger and more innovative in my work, embracing resilience and transformation with CMKG.
From Numerator: Discover the exceptional insights of Numerator! This insightful (downloadable) whitepaper reveals the unexpected turn of events in 2023, where the economy thrived and consumer spending on entertainment experiences like movies and concerts skyrocketed, despite concerns of a recession. It highlights the importance of truly understanding customer desires and behaviors, rather than relying solely on their words, as the key to continuous brand growth.
From Retail Wire: Industry experts analyzed 2023's location-based data, discussing trends, top performers, and strategies for retailers facing economic uncertainties and evolving consumer behaviors. They emphasized the need for retailers to adapt by refining promotional tactics, understanding market segments like beauty and athleisure, and integrating digital and physical experiences to engage consumers effectively.
From Daymon: A must read for anyone (which is most of us!) affected by Private Brands. Consumer needs and evolving lifestyles are driving the growth of Private Brands, with 44% of U.S. shoppers buying more of these brands than a year ago, appreciating their value and improved quality. This downloadable report highlights this trend, emphasizing the importance of product innovation and aligning consumer trends with product environments for long-term growth and brand relevancy in the competitive retail market.
From LinkedIn: 😍Love this one and hand-picked for anyone interested in continuous learning (like me!)! The article emphasizes the critical role of workplace learning in 2024, highlighting the importance of developing skills in business acumen, strategic thinking, and risk-taking to not just stay ahead, but to excel in today's fast-paced environment. It's a thought-provoking read that prompts reflection on your learning plan for the coming year.
Guess what? "We're back and better than ever!" Get ready to dive into a treasure trove of fresh blogs, nifty tools, and all the free learning goodness from CMKG you've missed (or can't wait to discover). Take a peek at our latest resources below – it's time to reignite your excitement! 🌟🚀📚
You can also check out ALL blog topics here.
Hey there, I'm back on the blog wagon! 😄 Sorry for playing hide-and-seek these past years – let's just say, life's been one wild rollercoaster of a ride!
I recently had an 'aha' moment while diving into HBR's "Develop Your Strategic-Thinking Muscle" (an excellent read!). It hit me that our accredited online category management training at CMKG, though industry-standard, wasn't quite hitting the mark in fostering strategic thinking. It was a bit of a wake-up call to the limitations of our own online courses. I realized that while online modules are great for tactical skills, it's the personalized, instructor-led sessions that really nurture strategic thought.
So, I'm excited to share some cool ways we're weaving strategic thinking into our custom training for clients and students at CMKG:
🌟 Competency-Based Learning Model: We're transforming our training approach to focus on developing specific, real-world competencies instead of traditional level-based progression. This strategic shift ensures a more impactful and personalized learning experience, directly aligning with professional growth and real-world challenges.
🧠 Data Literacy Training: It all starts with understanding data. We're equipping folks with the know-how to collect, analyze, navigate, and interpret data. This is the bedrock for making smart, data-informed decisions.
📊 Case Studies and Simulations: Nothing beats learning from real-life examples. We're dissecting historical data to understand market trends, consumer behaviors, and what the competition's up to. This helps in crafting strategic plans based on solid insights.
🚀 Growth Opportunity Workshops: These workshops are all about cultivating a growth mindset. We dive into data from different angles to spot opportunities and challenges, helping our learners become proactive thinkers and planners.
🔍 Competitive Analysis Exercises: We get our hands dirty with in-depth competitive analysis. The goal? To devise strategies that fill market gaps and stay a step ahead of competitors.
💡 Data to Insights Training: Here, we master the skill of turning data into actionable insights. It's all about understanding what the numbers are telling us and when to dig deeper.
🤝 Cross-Functional Collaboration Sessions: Teamwork makes the dream work, right? We're bringing different departments together to spark strategic thinking in areas like growth identification and problem-solving.
🎲 Risk Analysis and Scenario Planning: We're embedding risk analysis and scenario planning into our training. This means using data to foresee risks and uncertainties and preparing strategic responses.
🔄 Continuous Learning with Industry Updates: Keeping up with the times is key. We make sure our training is packed with the latest industry news and trends, keeping everyone on their toes and well-informed.
Blending strategic thinking with varied learning approaches really amps up decision-making skills, moving from just being tactical to being strategic.
I'd love to hear your thoughts! How are you fostering strategic thinking in your team or organization? Let's share ideas and keep the conversation going! 🚀📈
Thursday, February 15, 2024
11:00am – 12:00pm EST (9-11 MST)
Unlock the future of learning and development, while gaining deeper insights into the realm of category management during our exclusive webinar! Immerse yourself in an engaging live virtual training demo (topic: Category Management Fundamentals) and delve into the innovative virtual solutions offered by CMKG. Join Sue Nicholls from CMKG (that's me!) as she unveils a unique blended training approach that seamlessly integrates the advantages of online and instructor-led training, resulting in a highly impactful and transformative learning journey.
We are excited for what 2024 brings for CMKG, our clients and our students.
In our ever-evolving industry, the need for continuous learning is more crucial than ever – and I'm no exception! I've been diving deep into a world of knowledge, from books and articles to podcasts and university courses. My focus? Everything from learning and training techniques to the latest trends in retail and CPG technology and shopper behaviors.
The moment we stop learning, we risk becoming obsolete.
With 2024 shaping up to be a challenging year, and as resources thin out, it's vital for organizations to equip their teams with the right training, tailored to the competencies needed in their roles. Stay tuned, as I'll soon share some fascinating insights from this journey of discovery in our upcoming newsletters!
Please reach out if you have questions or comments.
Happy learning!
Sue Nicholls, CMKG
We're a global training company in Canada, dedicated to retailers, suppliers and solution providers. Whether you're a category manager or part of a sales or marketing team, our personalized programs, for organizations, teams and individuals, are tailored to elevate your skills.
