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🔥 Do you know the true cost of being out of stock? 🔥 Its a longer list than you might think.... - Lost Revenue and Profits - Loss of Customer Loyalty - Loss of First-Time Customers - Higher Customer Acquisition Costs - Lost Retail Distribution Points - Market Share Decline - Brand Awareness Damage - Increased Order Expediting Costs - Diminished ROI on Marketing - Cash Tied Up in Poor Inventory Management Many brands have and continue to struggle with in stock and availability. Brands that are winning in this space are taking an entrepreneurial approach with innovative thinking. ✨ Innovative Thinking: Naturium's Strategy ✨ NATURIUM has combated these challenges by launching jumbo-sized bestsellers, meeting demand, boosting satisfaction, and driving growth. Turning their challenge in to a bigger opportunity and a bonus of happier customers too! 🔗 https://lnkd.in/d7uXeyR5 To get entrepreneurial thinking embedded in global organizations can be tough. I get it, I've worked with many global brands. I hear first hand from Category, Brand and Country Managers about how they struggle to think of ways to complete with small digital native brands, supply chain issues, losing market share due to out of stock or availability issues, lack of data. I often get responses like "but we are not agile enough", "we are too big to make changes quickly like small brands"...... add a long list of reasons here.... Brands can't expect entrepreneurial thinking within their teams to happen off the bat. Entrepreneurial thinking needs to be warmed up and getting them to think differently through various stimulus and provocations. I always thoroughly enjoy working with brands on projects like this - it often reignites the teams in:- 🌟 Teamwork 🌟 Cross-department collaboration 🌟 Customer centricity 🌟 The drive to win These elements are key to fostering an innovative mindset and achieving business growth. #Ecommerce #SupplyChain #BrandStrategy #Innovation #BusinessGrowth

At Integral CPG, we believe that there is no one way that ambitious innovations should enter the market, nor even one point in time in which they’ve truly and fully ‘entered’. Ambitious innovations that succeed often do so because they’ve put as much thought into *how* the product will interact with consumers over its initial life, and for what purposes.  This includes considering the entire universe of ‘channels’ to get into consumer’s hands and lives, in order to curate the right portfolio of pathways over a series of release ‘moments’. So, it made us very happy to see Denise Woodard’s article in Inc. Magazine (link below) speaking to the value of considering ‘non-traditional’ distribution channels as part of the strategy of bringing new products to consumers. It’s an effective and powerful reminder that innovative thinking doesn’t stop with what goes in or on the package; sometimes the manner in which that package makes its way into a target consumer’s world can be just as creative and disruptive. Thanks to Denise for a great read on a great topic – definitely check it out!

WHAT IF... your Mentor was an expert who is passionate about empowering the retail industry to embrace change and transform for the future? At EVOLVE Commerce Club, we bring together the best in the industry, and this week we had the pleasure of receiving Renee Hartmann to talk about Retail Evolution. Meet Renee Hartmann: With a global mindset and practical, on-the-ground experience, she has an amazing portfolio of professional experiences as an entrepreneur, consultant, and board member/advisor in Asia, North America, and Europe. She also co-authored the book Next Generation Retail: How to Use Technology to Innovate for the Future, which launched in February 2023. Renee shared her international career journey and insights into the world of retail technology regarding the challenges and opportunities of expanding into different markets, particularly China and the US. She emphasized the importance of innovation in the retail industry and the need to create a culture that encourages it. The conversation also covered topics related to global expansion in the commerce industry, the challenges of building consumer demand in new markets, the importance of influencers and media in connecting with consumers, and the customization of commerce tools for different markets. It was an amazing session! Thank you so much Renee Hartmann! Highlights : - Innovation is key in the retail industry, and companies need to create a culture that encourages and sparks innovation. - Expanding into different markets requires understanding the cultural nuances and consumer behaviors of each market. - China can be a challenging market to enter due to high costs, intense competition, and regulatory concerns. - Europe and the US have different approaches to business, with the US being more direct and Europe being more relationship-based. - Building consumer demand is crucial for successful global expansion in the commerce industry. - Influencers and media can play a significant role in connecting with consumers in new markets. - Customizing commerce tools to fit the specific needs of different markets is essential for expansion. - Advisors can provide valuable support and guidance to startups, helping them navigate challenges and make strategic decisions. You missed our live session, the link will be in the comments. Join the Conversation: Every Thursday, we dive deep into expert insights during our Expert Sessions. Gain knowledge from industry leaders like Renee Hartmann. Follow the EVOLVE Commerce Club for more insights from world-class professionals. #retail #consumer #strategy #branding #marketing #internationalexpansion #evolve #internationalcareer #consumer #branding #business #technology #innovation https://lnkd.in/dwXDTMFR

Big CPG, you're no longer just competing against startups with niche innovations. More and more, private label is identifying and strategically approaching category trends. PL is no longer just a price play. With innovations happening faster, these agile brands are leveraging in-store data to capture Here’s how private labels have evolved: 1️⃣ Price wars: Private labels once thrived by slashing prices, creating budget-friendly options. Simple, right? 2️⃣ Leveraging brand identity: They’ve stepped up their game, building brand loyalty and consumer trust. They look good, they feel good, and people are paying attention. 3️⃣ Innovation machines: PL is no longer "just keeping up" they are often leading the charge. They’re moving faster, taking risks, and pushing boundaries with product development in ways Big CPG struggles to keep pace with. Big brands, if you're not rethinking your innovation strategy, you’re already behind. Consumers want what’s fresh, fast, and impactful – and private label delivers. At SmashBrand, we help you assess and test hundreds of innovation opportunities, determining which one gives your brand the strongest right to win. Then, we position your brand through iterative design and messaging for maximum consumer attraction and engagement. Our process mitigates risk and drives shelf performance. Considering your next innovation? Let's talk: https://lnkd.in/eX4NtfJF #SmashBrand #BigCPG #PrivateLabel #InnovationLeadership #BrandStrategy #ProductDevelopment #StayAhead #DisruptTheMarket

In new-age business, market share may not always mean profitability. While conventionally market share drives profitability due to economies of scale, bargaining power, or more favorable brand perceptions, a new research says the link between market share and profitability may get weakened for digitalised companies. Bigger may not always, or inevitably, mean profitable. https://lnkd.in/g8vcH5_9

While we founders tend to focus more on building good products, we usually forget the need for building strong distribution channels. This's where the real challenge begins. A product, no matter how innovative, can only make an impact if it reaches the right audience. Building strong distribution channels is not just about logistics; it's about understanding your market, defining your objectives, and creating a strategy that aligns with your brand's vision. Here are some key steps to consider for effective distribution: 1. Know Your Audience: Tailor your distribution strategy to the preferences and behaviors of your target market. 2. Set Clear Goals: Define what you want to achieve with your distribution channels, whether it's market expansion, brand presence, or customer reach. 3. Choose the Right Channels: Decide between direct and indirect channels based on your product, market, and control level desired. 4. Forge Strong Partnerships: Collaborate with intermediaries who share your market focus and can add value to your distribution. 5. Plan Meticulously: Outline the specific activities needed to bring your product to market, from logistics to marketing. 6. Leverage Technology: Invest in tools and infrastructure that streamline the distribution process and enhance customer experience. Remember, distribution is a powerful tool in your startup's arsenal. Use it wisely to ensure your product doesn't just exist but thrives in the competitive marketplace. #StartupStrategy #DistributionChannels #MarketReach #BusinessGrowth

Is crustless bread a revolutionary concept? It depends on your perspective. With the rise in popularity of products like Uncrustables, combined with consumer demand for more budget-friendly alternatives amid inflation, crustless bread very well could once again become a mainstream choice. H-E-B's embrace of this trend is a testament to how private label is staying ahead of consumer preferences.

Store brands vs. emerging brands.. A misunderstood collision. Private brands are not in conflict with emerging brands. Not a competition but synergy. If done right. Growing entire category. Often more than legacy brands. Reason being - both private and emerging brands have much more in common than with large CPG‘s. This is not anti-legacy brands sentiment. No raging shelf antagonism. Just shelf pragmatism - Private brands and growth-worthy emerging brands are customer centric. Big CPG‘s are mostly product centric. Two different worlds. Pumping more customer centricity in the business strengthens values and generates identity. This is the essential watershed on shelf. Not the label on packaging… Category management by label and not by values is transactional. Values are driven by culture. Transactional is driven by short term interest and convenience. Smart balance with clear direction is the formula. And in the meantime - Culture eats strategy for breakfast. AI eats transactional for lunch and dinner. Think about it.. 😉 #retaildemocratization Errol Schweizer

Curious how top brands made it big online? Swipe to discover how Clicktech’s Emerging Brands program can turn your vision into a Crorepati success story! With the power of premium online retail, top-tier expert support and a crystal-clear roadmap to transform your vision, we are all set to scale your brands to great heights! If you are inspired by what you see and feel like creating your own success story, reach out at contact@clicktechretail.com. Let’s make it happen!

They say "Every company and individual that doesn't prioritize innovation fails to adapt and eventually becomes obsolete." After in-depth conversations with MENA brands and distributors, a fascinating pattern emerged.: While the market is booming (growth exceeding 15% year-over-year!), some businesses are getting left behind. The culprit? A lack of focus on innovation. They're clinging to old models, leaving them vulnerable in this fast-paced industry. The competition is fierce! Are these businesses destined to become relics of the past? Not necessarily! There are e-commerce brands absolutely crushing it with cutting-edge strategies. But how do you win the race in a market overflowing with innovation? Share your experiences in the comments!