STAMFORD, Conn.–(BUSINESS WIRE)–#privatebrand–Global consumer retail leader and private brand pioneer, Daymon,
has just released the four key areas that are essential for retailers
and manufacturers to focus on in 2017. “There’s no denying that the
fundamental rules of retail are being rewritten,” said Jim Holbrook,
CEO, Daymon. “To stay relevant and successful next year, retailers and
manufacturers must focus on these areas as they evolve to the new way of
retailing.” The four forces shaping retail next year are:
Thanks to the digital revolution, shoppers feel empowered to take
things into their own hands. Increasingly, they desire to influence
not only their own choices, but also broader positive change. To
address this shift, retailers and manufacturers must move beyond
traditional shopper segmentation and address commonalities in
consumer need states that transcend demographics. They should work
to tap into the new “participatory shopper” by providing
opportunities for consumers to co-create and act as brand marketers.
In the landscape of ever-evolving physical and digital store
formats, retailers must create attractive destinations to drive
in-store traffic. Traditional definitions of categories can no
longer dictate the journey through the store. Shoppers want tailored
solutions that lead to experiences – not just transactions.
Retailers should continue to focus on creating branded destinations
with products and services that establish authority in high-volume
areas of the store while also finding innovative ways to deliver
differentiated solutions and shareable experiences.
Thanks to sophisticated wearable activity trackers, personalized DNA
profiling, and other new wellness services, consumer self-knowledge
is expanding dramatically. Consumers can now track daily lifestyle
and dietary habits, scan their DNA for genetic markers of disease or
dietary intolerance, and more. This trend is only set to grow,
providing new opportunities for retailers to create personalized
offerings for the self-aware shopper and to position themselves as
partners in their customer’s wellness journey.
Redefinition of Convenience
In our increasingly digitized and urbanized world, the definition of
“convenience” is rapidly changing. Much of this change is and will
continue to be driven by new technology. To stay relevant, retailers
and manufacturers must work to identify and begin investing in
innovations that will help them commercialize the store of the
future, giving customers what they want, when they want it.
Over the course of 2017, Daymon will be exploring each of these forces
in greater detail sharing recommendations and best practices for
retailers and manufacturers to follow. For additional information on
what’s shaping the rules of retail, visit http://www.daymon.com/.
Daymon provides global retail strategies and services that make the cash
register ring. We are global leaders in building successful private
brands, and delivering high-impact experiential consumer marketing and
in-store services. Our business network includes more than 100 major
retailers and nearly 6,000 manufacturers in 50 countries. We currently
handle more than 1,700 brands and approximately 165,000 individual SKUs
globally. For more information, please visit www.daymon.com.
Emily Roy, 212-279-3115 x232