Latest reports of consumer confidence reaching a 20 year low should not come as a surprise, given 4 years of warning signals to those not in denial…
Whilst many suppliers are waiting for patterns to emerge, or even a return to normal, proactive BAMs are busy dealing with the here and now, as business managers factoring market conditions into their trade strategies.
For those who are realistically optimistic, these unprecedented market conditions provide unprecedented opportunities to reappraise market offerings and go-to-market strategies.
Starting with savvy consumers unwilling to outsource their decision-making to either brand owners or retailers, ever again, it is vital to reappraise the brand vs its competition through the eyes of a demanding consumer wanting demonstrable value for money and unwilling to settle for less.
Next it is vital to acknowledge the financial pressures on all retailers, now coming through in latest annual reports, and worsening….
Again, it is essential to evaluate your competitive appeal in terms of the financial impact of your offering on retailer profitability, and be able to quantify and demonstrate that effect using latest available data.
With the right attitude, ‘Doom & Gloom’ is simply a label for real opportunity…