Rob McClellan

The battle for units is on and price has never been more important. Walmart, the value leader, focus on Roll Backs is all the proof and validation any Retailer should need. To make sure Retailers, you're getting your fair share of CPG support (note: almost all Rollbacks are funded) you must make sure you have updated: 1) Pricing Strategy 2) Category Strategy and Roles 3) Optimization/AI-driven decisions 4) Merchandise Plans and Calendars 5) Financial KPIs Let Columbus Consulting International help with the above and maximize your price investments!

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“Only 58% of customers indicated the [home improvement retail] store was very clean and 52% indicate product information was clear and helpful,” said Michael Taylor, senior managing director of retail intelligence practice at J.D. Power. “These two factors play a vital role in overall customer trust in the retailer and as customers are spending an average of $1,786 a year on home improvement products, these are areas in which the retailer can improve to increase share of wallet and overall customer satisfaction.” ➡️ More key findings from the J.D. Power 2024 U.S. Home Improvement Retailer Satisfaction Study: https://hubs.la/Q02x92fl0 #HomeImprovement #Retail #RetailStore #HomeRenovation #CustomerSatisfaction

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We are still using cash and this article indicates that retailers are resigned to continue to accept cash for the long term. What are the industry-wide options to eliminate the need to continue to use cash for retail transactions? Why do we want to get rid of cash? · It’s legal tender and anyone that has it owns it, even if it’s not theirs. There is no protection against loss. · Retail stores are exposed to hold ups and internal theft. Cash is the first to disappear from cash drawers. · Cash purchases are used by criminal entities to ‘cleanse’ illegally obtained cash. Who needs cash, anyway? There are two groups; those who only have access to cash and those who would like to not need cash at all. · Those who have not established a checking or a credit card account, also referred to as ‘the underbanked.’ · Those ‘fully banked’ who would like to tip the doorman, parking lot attendant, or crew at the carwash. What optional payment types are available to deal with the question? There are several ‘instruments’ that obviate the use of cash, if not the occasional need for cash. · Credit cards · Debit cards · Gift cards · Electronic payment instruments backed by Debit/Credit cards such as Venmo, Zell, Google Pay, Apple Pay, etc. For the occasional cash tip, alternatives exist but are not widely embraced. In some segments (think carwash), customers could add a tip electronically. But the employees entitled to the tips, would rather count the cash at the end of a shift than rely upon their employer to add the electronic tips, divide them proportionately, and include that amount in the employee’s paycheck. In parking garages, the customer could leave an electronic tip for the group using a smartphone and, again, the garage management would divide the tips proportionately. What to do about the consumer demographic with no checking or credit card account? For many retail stores, this is not an issue. Its customers don’t use cash, or could be persuaded to not use cash without relying on credit e.g., use a debit card. For a significant many other establishments, whose customer is the underbanked demographic with little or no access to credit, the elimination of cash today would be a big problem. One solution could be a stored-value card, that this demographic would purchase at no cost, with cash, at a kiosk or at a bank, and use as then-accepted tender at all No-Cash retail stores.  The challenge, of course, is for the banking institutions issuing these cards to make money without charging for the card, or maybe charging a minimal, nominal fee. The banks are not there yet. The retailers forced to accept cash are not there yet, although they might want to be. The technology is available but not implemented. Conclusion As with many changes and evolution we have witnessed in relatively few decades, the financial and payment-systems businesses will figure out the solution to having a truly cashless society, aided by retail trade groups.

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Kohl's recently announced a strategic partnership with Babies R Us to open shop-in-shops within Kohl's stores. This move aims to attract new customer segments, enhance the in-store experience, and increase foot traffic. However, with customer traffic down and stores struggling to define their identity, it's uncertain whether this partnership will be enough to turn things around. While leveraging the strength of the Babies "R" Us brand might help, the success of this initiative will depend on how well Kohl's can execute the integration and improve the overall shopping experience. This strategy could either be a step towards revitalization or just another attempt to stay afloat in a challenging retail environment. Time will tell if these partnerships can truly improve Kohl's business or if they are grasping to find their identity. Kohl's seems to be following their success with SEPHORA shop within shops but its unclear if that strategy is driving the brand for success! #StrategicPartnerships #CustomerExperience #RetailStrategy #ShopInShop #RetailRevival #Kohls #BabiesRUs

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Good read for points to consider. I would add a few more. On data, capture the right level of detail that allows observable corrections to improve the scorecards. Get agreement from all stakeholders on the measurement and the details behind the measurement. I remember a previous role where it took several months for accounting and merchandising to agree on the inputs for the margin calculation. Do not underestimate the need for change management. You create a scorecard to ensure success. It will flush issues that require change in the retailer and supplier networks. Leaders must be expect and support those changes. Some of those changes will be uncomfortable and may strike close to home.

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Our latest retailer snapshot puts the spotlight on Meijer. One of the key findings is that Meijer shoppers are 9% more likely to make impulse purchases triggered by displays compared to the 7% average. Categories like checkout candy, toys, and baked goods experience the highest impact. Meijer also excels in customer satisfaction with superior store navigation and product availability. Create better, faster category management plans and establish a competitive edge using Shopper Intelligence’s shopper-driven insights. ➡ Download the Meijer report here: https://lnkd.in/djjPJhFp 📩 DM to talk about a new approach to category management. #retail #supermarket #grocery #retailinsights #catman #CPG #shopperdata #shopperinsights #insights #produce #manufacturing #agrifood #foodsector #wholesale #FMCG #categorymanagement #shoppertrends #shoppingtrends

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RETAILERS LOWERING PRICES… CNN Article 5/5/24. It’s been my contention that retailers have been increasing sales the last 2 years by increasing prices in the face of falling total transactions and falling customer counts… no one wanted to report falling $ comp. sales and profits after the “pandemic spending effect” when customer traffic slowed down so prices were jacked up (and in many cases, quantity and quality reduced) to compensate for falling traffic… this is a bubble that eventually bursts…ie. once my Cheetos reached $10 a bag, I stopped buying them! Month after month I’ve been reading articles saying “consumer spending remains strong…sales were up x% over last year”… followed by the significant disclaimer “NOT ADJUSTED FOR INFLATION.” Anyone taking a statistics 101 class will tell you that not adjusting the sales number for inflation is bogus… it gives a false sense of optimism. Basic math tells you that if inflation (prices) are up 3.5% and retail sales are only up .7% then LESS PEOPLE are buying LESS STUFF! I would like to see reports not only adjusted for inflation but also include +/- customer counts to Last Year, +/- UPT’s (units per transaction) to Last Year and +/- AUR (avg. unit retail) to Last Year… THEN we’d get a truer picture of what’s REALLY going on.

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Self-checkout is an excellent case study of the challenges #retailers face with new #technology; the need to balance operational efficiency and cost savings with the needs of associates and the ever-shifting (and often unclear) preferences of #consumers. #SCO started as a way to accelerate #checkout for small basket orders while enabling #retailers to reduce store #labor costs. #Covid greatly expanded the rollout of #SCO lanes, fueled by consumers’ desire for #touchless experiences … and the promise of ever-greater #cost savings. But as #shopping behavior normalized, consumers grew frustrated with having to continue to take on the work of scanning and bagging, especially with larger #grocery orders. This was exacerbated by years of price increases, which left many shoppers feeling taken advantage of, and has contributed to the “15% of self-checkout users [who] admitted to stealing an item on purpose.” A cautionary tale of getting too far ahead of what #consumers were / are willing to take on … and a needed course correction by the industry. https://lnkd.in/ePs_wSHM

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It's interesting how retailers are slowly landing on the same three options for Self Checkout refinement to solve shrink. 1. Adding employee assisted checkout, 2. Adding barriers to leaving the store without confirmation of purchase (mechanical or human) or as a last resort, 3. Completely eliminating the option. From the consumer perspective its slowly becoming a negative experience... Curious what other options might exist..

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HotWax Commerce's latest updates for June 2024 are here! Retailers can now process returns without needing Order IDs, making it easier to accept returns beyond the specified return window. Additionally, merchandisers can now schedule inventory restockings, ensuring that product inventory is available at their preferred times. We're also excited to introduce the new Company App, which allows retailers to create and manage product stores with ease. Stay ahead of the competition and streamline your eCommerce operations with HotWax Commerce. Check out our full release notes here: https://hubs.la/Q02H7DG70 #ShoppingandtheRetailIndustry #eCommerce #Retail #OrderManagementSystem #ProductRelease #ProductUpdate

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Want to read a great case study of a well-known brick-and-mortar retailer using better inventory management to win? Check out Dan Berthiaume's piece in Chain Store Age about how Michaels Stores is turning its physical stores into omnichannel supply chain hubs... ... and how better inventory management and more efficient product allocation enable it. It's just one example of how retailers that manage their inventory more effectively can win in today's competitive environment. And if you're a brick-and-mortar retailer who wants to know how to manage inventories and assortments more effectively, let's chat! #BrickAndMortar #Retail #Inventory #Assortment #Management

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Saw this article today. FOOD FOR THOUGHT: Anyone can see the return to retail happening with their eyes the last few months by going to the mall. However, the crowd is not the same as pre-COVID – at least not yet, and due to the post-COVID e-commerce advancements, it probably never will, but it's not dead, and it will not die. Shopping is an American sport. Some questions that come to mind are: Is retail making a comeback? What products are selling more in stores than in e-commerce? How does the cost of shipping factor into this phenomenon as products with lower retail prices become unprofitable to ship to consumers? Are retail products filling the stores going to be dominated by products lower than $39.99 MSRP because of the shipping cost for e-commerce drop-ship fulfillment costs? Is the increase in retail foot traffic because FREIGHT cost has made retail store distribution more cost-effective than drop-shipping? And more questions. https://lnkd.in/e4QAE5DN

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Hello Retail Friends,   I cannot stress enough how important fresh products are to grocery retailers. When it comes to inventory planning, “point solutions” that lack end-to-end integration and only address store-level planning simply are not enough!   Retailers need proven, multi-echelon planning solutions that extend beyond the store - unifying, automating, and optimizing planning in stores, DCs, and omnichannel. This is the only way to get crucial visibility and insight across the end-to-end value chain.   https://lnkd.in/ej53RsFV #supplychain #grocery #freshproduce How to improve retail fresh food inventory management | RELEX Solutions Tackle fresh food inventory management challenges head-on with the right strategies and robust planning software. www.relexsolutions.comhas context menuCompose

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In our upcoming specialty retail webinar, an expert panel feat. leaders from PACSUN + Incisiv will center on the modern store associate experiences that are driving customer engagement and improving their interactions. Register: https://ow.ly/zU3Z50Rfhcn. More details below. 𝗘𝗺𝗽𝗼𝘄𝗲𝗿𝗶𝗻𝗴 "𝗦𝘄𝗶𝘀𝘀 𝗔𝗿𝗺𝘆" 𝗔𝘀𝘀𝗼𝗰𝗶𝗮𝘁𝗲𝘀 Transform your store associates with multifaceted roles into versatile assets and unleash their potential to cater to diverse customer needs effectively. 𝗗𝗲𝘀𝗶𝗴𝗻𝗶𝗻𝗴 𝗨𝗻𝗶𝗳𝗶𝗲𝗱 𝗔𝘀𝘀𝗼𝗰𝗶𝗮𝘁𝗲 𝗘𝘅𝗽𝗲𝗿𝗶𝗲𝗻𝗰𝗲𝘀 Build a unified view across all customer touchpoints, both physical & digital, and harmonize shopper-associate interactions that ensure a cohesive brand experience that resonates w/shoppers at every stage of their journey. 𝗔𝗺𝗽𝗹𝗶𝗳𝘆 𝘁𝗵𝗲 𝗦𝘁𝗼𝗿𝗲 𝗔𝘀𝘀𝗼𝗰𝗶𝗮𝘁𝗲 𝗘𝘅𝗽𝗲𝗿𝗶𝗲𝗻𝗰𝗲 Boost associate engagement by fostering a culture of empowerment and ownership that cultivates a workforce driven to deliver exceptional service, fostering long-term customer satisfaction and brand loyalty. #retailers #retailsales #retailtechnology #unifiedcommerce

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