Given the political, economic and trade uncertainties nearly 12 years (!) on since the global financial crisis, it is understandable that NAMs struggle to establish a bespoke trade planning context that works for them in unprecedented times…
The big moves are obvious i.e. discounters and Amazon/online growing at the expense of the mults in flatline markets. However, beneath that top layer, a host of developments are changing the balance of trade sectors ‒ radical changes in consumer behaviour and expectations, and unprecedented degrees of innovation by enthusiasts young enough not to have experienced the ‘simplicity’ of pre-2008 Account Management.
All of this increasingly unprecedented complexity makes it tempting to wait until everything settles down in order to ‘plan properly’…
The basic business principles still apply (defining and meeting consumer/customer need vs available alternatives at a price that makes it possible to continue, and optimising ROCE for ourselves and the customer in the process), but circumstances will not allow us the time to discover that ‘this is normal’. We must learn to thrive in the uncertainty, or perish…
As business managers of accounts i.e. accustomed to optimising the unexpected, we must learn how to deal within the ‘here & now’ based upon an up-to-date, realistic assessment of what affects our relationships with trade partners, taking into account their ways of coping with the unprecedented changes, in a market environment that competes for attention 24/7…
In other words, we somehow need to define a trade context that summarises latest thinking on all sorts of levels, all aspects of the market that affect our business performance. This goes way beyond in-depth analyses of our competition (who may also be struggling with past-sell-by assessments and precedents). We truly need to see this world from the customers’ perspective.
For this reason, our vision has to encompass key issues and developments like the rise of digital, the cannibalising impact of online, super-savvy consumer demand for greater convenience, increased sophistication of category management (meeting consumer need in the context of ALL available competition, where and how they choose to buy i.e. ‘marketing done properly’). All of which are impacting the market and affecting our ability to survive (and even thrive) in these unprecedented times.
We patently need a way of taking a current in-depth view of the main issues and developments in a way that allows us to proceed with as much confidence as can be justified in this uncertain period. The upcoming two-day IGD Live event may present such an opportunity…
In an action-packed programme there will be sessions ranging across five great themes: Category Management, Digital Commerce, Convenience Retailing, Food-to-Go, and Wholesaling. Check the programme and hand-pick a bespoke selection of topics that best suit you (but why not throw in a couple of ‘off-tram-track’ sessions in case you may have underestimated their relevance to your business?).
The sessions will bring together leaders in their fields from across the consumer goods industry. They will consciously and unconsciously reflect their companies’ latest thinking on your issues-in-common, indicating latest best practice and point you towards ways forward based upon current market realities.
In the process, a combination of the presentations on the key issues affecting supply and retail of brands, own label and food services have to be a stimulus to your thinking, besides impacting fellow delegates (i.e. hundreds of influencers, peers, current and potential customers) eager to share their thoughts in the break-out sessions…
Incidentally, the IGD will also reveal new research into shoppers and category management, telling participants how they expect retail to develop and discuss the outlook for different channels.
Obviously you can read about some of it afterwards, but nothing beats participating in the real thing…experiencing the event live…
