Acknowledging the truths and avoiding the misconceptions
This post is part of The Retail Reveal Series, with fortnightly content published on Retail IQ.
In an increasingly channel-less environment, many FMCG suppliers are acknowledging the need to move away from traditional channel planning and include ways to manage channel evolution, new retailer requirements and channel blurring. The foundation of new channel plans should include globally agreed channel truths, while avoiding the biggest misconceptions that can quickly destroy the best-made plans.
Here, Kantar Consulting lays out some of the most important truths and misconceptions across discounters, eCommerce, big-box, drug and convenience as you begin to build out your channel plans for the year ahead in the short and medium term.
SUMMARY OF KEY LEARNINGS
- Understanding the channel truths creates the right foundation to better align your global channel businesses.
- Avoiding channel misconceptions will create the blueprint for a global strategy.
- Managing channel blurring allows local teams to action against new channel plans and capture the true potential of a channel globally and stay ahead of the curve as channels evolve.
- No FMCG strategy should be dictated by one channel alone, be it eCommerce or discounters.
- Retail and channel developments mean success is fundamentally about the getting the right range for the right retailer at the right time.
- Next-generation channel strategy requires a shift in mindsets, operational capabilities, KPIs and, above all, new strategic initiatives.
- Channel planning needs to include elements of growth potential and the ease with which your company can align to the channel.
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