New insights and solutions for retention and recovery in our post Covid-19 omnichannel World
Navigating Uncharted Waters to Recovery and Preparedness in a post Covid-19 World
A best practice approach to serve SNAP shoppers
There are those historic turns of fate - epic moves, game changers - that make the difference between glory and oblivion for nations, businesses, and brands.
New products are very important to category development and growth. Retailers who are faster-to-market with new products also rate higher with shoppers on key Banner Equity ratings.
In the News
Retailers prepare for a new normal in an era of uncertainty
From wild weather to contagions, civil unrest and shootings, increasingly it seems the new
norm in grocery retailing will require heightened disaster preparedness and response. Crisis
management and recovery is part of a new study from Edgewood Consulting Group in
Parsippany, N.J., which conducted 25 interviews with senior level buyers, category
managers, directors and VPs responsible for several departments, including perimeter and
center store, at leading U.S. food, drug, mass, club and e-commerce retailers in April.
In a 2014 Retail Leader article, "Maximizing Speed to Market", both John Ferramosca and Israel Rodriguez contributed with insights from Edgewood's Speed to Market best practice and landmark white paper on the topic of how important speed to market is for new products. Faster speed on new products brings substantial benefits to retailers not only in terms of increased sales but also increased retail banner equity ratings. Edgewood explains some of the principles that help bring products to market faster.
In a 2013 Progressive Grocer Article, "Making the Grade", John Ferramosca and Israel Rodriguez where quoted discussing the successes and failures of new products; "Some categories, such as nutritional supplements, are driven by fads. Category managers must stay on top of them. 'Gummy vitamins and vitamin D are really hot now," says John Ferramosca, principal at Edgewood Consulting, Parsippany, NJ. 'The question is, what is the next gummy?'"
Israel Rodriguez wrote an article for the Progressive Grocer entitled "Mutual Benefits." In this article, he illustrates the importance of assortment optimization as it pertains to effective shopper marketing strategies. Too often we get so lost in the speed of technological advancements that we cannot understand how to use them to make categories more efficient to shoppers.
Excerpt: "Let's start with what insights are not: they are not data, information, factoids or trends. This is all nice to know but an actionable insight is deeper and often hidden within all of this information. A true insight is a 'hidden truth' that can be leveraged in an actionable way and ultimately generate a response from your customer... " Jeff M. Rehling
Jeff Rehling was the keynote speaker at the 2013 GMDC conference, where he discussed the importance of building customer loyalty, with a focus on the pharmacy shopper. In the Drug Store News article, "GMDC presentation 'LINCs' retail pharmacy to patient loyalists", Jeff was quoted saying, "If every shopper bought one or more items when picking up their prescription, it would mean $4.8 billion more in sales across the country."
Excerpt: "So much has changed like retail consolidation, loyalty card programs, social media and omni-channel. Still, many of the biggest challenges and opportunities facing brands and retailers boil down to vying for market share and achieving competitive advantage in an increasingly crowded marketplace. The stakes are higher than ever to attract and retain highly diverse shoppers... The way we combine insights, innovation and implementation in ways that yield results is both an art and science."
Martin L. Baum
Value Channel Overview 2010
Take a look at the fast-growing value channels that include dollar stores and a host of other related formats. Edgewood asks:
• Is your company fully participating in this growth channel?
• Are you offering the right products in the right sizes?
• What is the opportunity cost of not capitalizing on this opportunity?
Rapid Mobilization Capability is critical to enhancing your strategic and financial ROI
In a study recently completed by Edgewood, we found that Speed to Shelf is a key success factor that significantly builds retail sales and retail equity. The study uncovered that best-practice companies/stores can be 13 weeks faster than competitors in achieving quality retail distribution of new products. The key is to apply "Rapid Mobilization" principles to your product launches.
Doing More with Less
Back when I was a Brand Manager, I was fortunate to be running a #1 Brand that was profitable and growing. Then one spring morning the phone calls started... from our sales force, asking which SKUs from our product line I suggested delisting!? We learned that the hot topic at that year's FMI conference was reducing SKU clutter. I assured Sales that our line-up was solid, but delistings ensued anyway, and sales declined for our Brand, the category, and for retailers. We rectified the situation and learned a valuable lesson. Sometimes, less is just less.
Pendulum Swings 2015
In a new era of cost-cutting to bolster the bottom line, let's take a look at a balanced approach to building lasting value. "When will the pendulum swing back to value creation?" Winning in CPG takes a balanced approach and that's why Edgewood Consulting helps clients manage brands for efficient and effective growth with 3D's:
Rx to OTC 2010
Rx to OTC switches have been and can be game-changers for manufacturers and categories. Switches are a high-stakes game where billions can be made or lost. That's why understanding switch best practices are of the utmost importance for manufacturers and retailers. Why are some switches blockbusters while others fade? Edgewood has taken the initiative to identify best in class capabilities and lessons learned to enhance competitive advantage for our clients and their retail partners.
What Retailers Want in a Partner 2009
What distinguishes Thought Leaders from their followers? The essential quality Thought Leaders have is the capacity to drive innovation based on the use of information, analysis, and synthesis.
The SNAP Effect 2014
The Supplemental Nutritional Assistance Program, or SNAP, has changed the way America shops. As of 2012, SNAP benefits now drive 10% of total food spending in Grocery and Mass. This program quadrupled in the past 5 years to $74.6 billion. This CPG spending influence is not going away.
• Do you know how big the "SNAP effect" is in your category? For your products?
• Do you know which stores at your retail partners experience the biggest SNAP sales spikes.
• Do you tailor your merchandising and promotions adapting to each state's unique SNAP distribution timing?