Learn how Category Management practitioners can unlock hidden buying trends and growth white spaces to deliver portfolio and category growth. Consumer demand for transparency is one of the most powerful attitudinal trends driving shopper behavior, and it’s changing the way the CPG industry operates. In the age of transparency and digital experiences, consumers are making purchase decisions based on product features and attributes not typically included on packaging or employed in the practice of category management. Today’s consumers want to see everything from ingredient definitions, country of origin, to sustainability practices.
Label Insight comment: Omnichannel continuing to grow, and it seems to be speeding up.
The digital revolution has changed consumer expectations for convenience, ease and speed of shopping, and product availability. In response, most grocery retailers have added some ecommerce component to their offer, but given that the vast majority of operators are locked into their physical stores, this creates significant implications for how physical grocery stores operate and position their offer.
Label Insight comment: Amazon is constantly resetting consumer expectations around the shopping experience. It's always important to keep an eye on where those expectations are heading. In this post, Steve bishop does a good job of outlining what they see with the AmazonGo experience.
The modern consumer is no longer a single-channel shopper. A recent study of a major U.S. retailer's customers found that 73 percent followed an omnichannel purchase journey, compared with just 7 percent who were purely digital. What's more, fluidity between channels is increasing, which allows retail brands to shape shoppers' experiences and ultimately build a competitive advantage founded on omnichannel customer intelligence.
Label Insight comment: It's always important to look to other industries to understand the context to disruption just hitting the Food Indisutry. This article provides us with a valid reminder that the we need to be thinking about consistent experiences across all channels, not just in e-commerce.
In the omni-channel space, there is no practitioner more important than Walmart, the world’s largest buyer of produce. It, alone, with more than 11,200 stores in 27 countries, combines the real estate, the technology and logistics necessary to create the kind of seamless experience on a mass scale that allows a retailer to truly serve a customer when, where and how that customer wants to be served. So, we were thrilled when we learned that Rand Waddoups, who holds the title of Senior Director Omnichannel for Walmart Inc. in Bentonville, Arkansas, was willing to share his thoughts with us in Amsterdam.
Label Insight comment: And oldie but a goodie. Our position, of course is that there is a need for better product attribute data to augment CatMan2.0 to CatMan2.1 for an attribute driven market.
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