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Apply a Consumer-Centric Approach
PrintApply a Consumer-Centric Approach  

By Carla Cooper

Organics. Our aging population. Sustainability. Online group buying. Nostalgia for retro brands. Rising obesity. These are just a handful of the trends that appear in the news every day in our hyper-connected, 24/7 world.

With even the average person having access to a wealth of on-demand information, you would think it would be simple to identify the next big trend – the one that will drive your sales and profits to new heights. But in reality, it's not so easy. Gone are the days when retail industry leaders merely could combine instinct with experience to predict the next big thing. Today, the forces that shape what people want to buy are coming from every angle, influenced by big-picture considerations such as cultures, generations, economics, the environment and, yes, even celebrities. There are local trends, country trends, and now even global trends. But just because a trend is a trend doesn't mean it's your trend.


'These days, it takes a total-store approach to stand out from the competition.'


For a recent project, our consumer insights and marketing teams identified a list of more than 70 relevant consumer trends. They all represented potential retail sales opportunities, but the question was, "Which ones would deliver the most results where it counts: at the cash register?"

Take a consumer-centric approach
To find the answer to that question, you must take a consumer-centric approach. You then will be able to anticipate which current and emerging trends are most likely to appeal to your specific customers. You can predict more confidently which trends will perform well with your own customers by using insights about a specific group of consumers to filter the question: "What's the next big thing?" Done well, it's a game changer. A consumer-centric process elevates the game by bringing a systematic approach to figuring out what will work specifically at your stores, for your customers.

For example, it's not enough to know that consumers overall are concerned about health and wellness. To make informed decisions, you need to identify what that really means for the people who shop at your store. Are they motivated by childhood nutrition needs? Are weight and obesity issues big factors in how they buy? Or is a focus on fitness what they really look for? The right answers, informed by the right data, will lead to more effective product innovation as well as a better overall brand strategy.

A total-store approach
A consumer-centric approach to trends shouldn't be limited to just new product launches. These days, it takes a total-store approach to stand out from the competition.

The most successful retailers use private brands not only to drive margin, but also to provide a clear point of difference throughout the store. Trends can be applied in the same way. By executing consumer trends at a banner level, you can help establish a store as a preferred destination for customers. It also can help establish your company's reputation as a leader by highlighting trends that directly connect with your consumers.

In a world that sometimes seems to move at the speed of light, retailers need to become more sophisticated in the way they make decisions about private brands. By looking at emerging trends with a consumer-centric approach – one that factors in the underlying motivators and needs of people who shop your stores – you will be one step closer to building brands just like the national brands do: with your targeted consumers at the heart of the conversation.

Carla Cooper is CEO of Daymon Worldwide, a Stamford, Conn.-based private brand development and retail marketing services company. Her 30 years of experience in the consumer packaged goods industry includes leadership positions with such iconic global brands as Pepsi, Quaker, Tropicana, Gatorade, Coca-Cola, Procter & Gamble and Kellogg. For more information, contact info@daymon.com.




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