From department and specialty big-box stores to grocers and independent retailers, the industry has been impacted by many challenges this year, much of which have been driven by an increase in digital shopping, Covid-19 and consumers’ weakening pocketbooks. The upcoming holiday season – including Black Friday and Cyber Monday – provides an opportunity for retailers to regain lost ground and perhaps even move from red to black in terms of profitability. In fact, Deloitte predicts that holiday sales this season will grow by 1.5% in the U.S. compared to last year.Read More
Making the most of today’s environment requires brands to enhance their data management capabilities with new innovations.
For consumer packaged goods (CPG) companies, the only constant is change – especially as it applies to trends impacting the industry. While many of last year’s trends are just as relevant today, the difference is that consumer behavior and market changes are occurring at a much faster rate (approximately 2-3 months instead of 2-3 years). For the most part, CPG companies and their retail partners have made tremendous strides in addressing these trends. In fact, some of the best prepared companies have moved beyond surviving and are actually thriving during these challenging times.Read More
Since the outbreak of Covid-19, we have seen a dramatic shift in consumer shopping. More customers are focused on safety and convenience while price sensitivity has taken a temporary back seat.Read More
Just over a week ago the World Health Organization declared the novel coronavirus (COVID-19) a worldwide pandemic, calling on countries around the world to take drastic steps to slow the rapid spread of the virus.Read More
Even though CPG companies and other businesses are in the middle of the busiest time of the year, Thanksgiving and holidays provides us an opportunity to take a moment to be grateful for our companies, colleagues and wonderful customers. But what often gets ignored in this time of gratitude is the richness and value of the data that customers are sharing about the product and their purchase experiences.Read More
Fourth quarter holiday shopping results have always dictated retail financial success. While the marketing channels, tactics and consumer preferences have changed over the years, the fact that many retailers reap as much as half their annual revenue between the Thanksgiving and Christmas holidays has remained constant.Read More
This marketoon may give you a chuckle if you’ve seen or read about mothers obsessing over what to bring for their child’s classroom birthday treats.Read More
There’s more to an omni-channel strategy than examining mobile commerce. As consumers expect greater selection, speed and service, managing raw materials, promoting products and shipping/warehousing goods become exponentially more complex. Multiple factors are behind a paradigm shift in consumer demand, therefore retailers must reformulate their omni-channel strategies and that cannot happen without examining supply chain visibility.Read More
Think back to the last time you visited your favorite retailer’s website. Immediately upon accessing the site, a cookie is dropped into your browser. Later, as you watch television, you see a commercial for new deals available through that retailer’s mobile app. The next thing you do is reach for your mobile device, make a purchase and opt for in-store pickup, and then you’re off to the physical store. Perhaps while you are in the store, you scan a QR code in search of additional deals. Congratulations. You are an omni-channel shopper and this scenario is reality.Read More
Previously on the blog I’ve discussed the importance of Master Data Management (MDM) solutions to various industries, focusing on retail in particular.
In this post I wanted to take a look at one established and widely used application for MDM in the form of product information management or PIM, and consider the important role it can play in future-proofing a business.Read More