Rick Watson

Our research shows that more than 70% of brands & retailers report using manual processes to either predict or react to supply chain disruptions... Be part of the lucky 30% and automate your way to better #supplychain outcomes. Check out our latest piece on omni-market costing >>> protect your margins & mitigate risk in the #retail supply chain. Bamboo Rose | #innovation #technology #strategicsourcing

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The precarious position of CEOs in #retail and #consumer #packagedgoods (CPG) industries stems from the high volatility and rapid changes in consumer behavior. Unlike sectors like automotive or finance, where purchase cycles are longer and more predictable, consumers in retail and CPG make frequent, easily influenced choices. This makes it quickly apparent when a brand is underperforming, and boards are more inclined to replace leadership in hopes of finding someone who can drive the company to the top of its category. The pressure is intensified by stakeholders’ expectations for radical growth, especially when a predecessor achieved success through incremental improvements. New CEOs often face the challenge of balancing strategic renewal with the need for quick results, all while navigating a rapidly shifting consumer landscape. Longevity in these roles hinges not only on having a compelling vision but also on the ability to adapt and execute effectively, seizing the opportunities that change presents. Ultimately, CEOs who consistently deliver value to both consumers and shareholders will be the ones who thrive in these high-risk, high-reward positions!

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Upside sits on a treasure trove of consumer behavior data that can help retailers make business decisions. In that spirit, we’re introducing the inaugural Spend Report to shed light on current consumer sentiments and how those sentiments shape buying behavior. Retailers know that increased price sensitivity almost always leads to increased cross-shopping. But what stands out to me today is the growing prevalence of what we call “the uncommitted customer.” Winning these uncommitted customers represents a tremendous opportunity for retailers. And when you read between the lines of these big spending trends, this report sheds more light on who they are and what they say they need to behave differently. #RetailTrends #ConsumerBehavior #UncommittedCustomer #BusinessInsights https://lnkd.in/g8NCkbxX

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Is the promise of Integrated Omnichannel Marketing falling apart in your organization? Are "more meetings" and "more emails" simply not working anymore? You are not alone! Your CPG peers are feeling the pain of rampant silos, linear and slow decision-making, and data disharmony, too. So much pain, that it inspired my client Craig Bilow and I to do a whole presentation (more of a therapy session, actually) on the topic at the upcoming virtual conference aptly called "OmniCommicon 2024". It is organized by our friends at Conversations On Retail and is completely free to attend! Learn more and register here: https://bit.ly/45mOdCm I hope you tune in this Wednesday and make it a day of professional growth and "Aha!" moments.

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In today's competitive marketplace, creating a unique shopping experience is more crucial than ever. Every grocer should consider, "What are the one or two areas where I can excel, and how can I ensure everything else meets the standard?" While this may sound straightforward, it demands extensive shopper and competitive analysis. Columbus Consulting International is here to help if you need assistance defining your Shopper Value Equation. #Grocery #Retail #Consulting #Shopper

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Commerce media is quickly becoming a game-changer, predicted to drive over $1.3 trillion in value by 2026. As brands tap into first-party data, we’re seeing highly personalized ads that target customers with increasing precision. Retailers are evolving into powerful media platforms, using customer data not just to boost sales but to create new revenue streams completely. Meanwhile, commerce media is expanding its reach beyond traditional retail, allowing brands to connect with shoppers across multiple touchpoints, from CTV to post-purchase experiences. Data-driven, targeted advertising is the new name of the game, and it's transforming how businesses engage with consumers. 🛒💡 To learn more about commerce media, come join me at IAB's Connected Commerce Summit tomorrow and Wednesday, Sept 17 & 18 https://bit.ly/3KcuThl We have a few tickets left! #CommerceMedia #RetailMedia #DigitalMarketing #AdTech #DataDriven

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🔥 Podcast with Andrew Neelon out today. Previously at Bonobos, Interior Define, now Elase. In a world of fluff this guy's content at 1REC is the best retail site expansion thinking in the industry. Just a few insights from this episode: J Curve: When ecommerce opens a brick and mortar store they should actually see sales go DOWN for awhile before they go up. Anti-halo effect first Inverse CAC: ecommerce works as an auction. Cheap to get running. But CAC gets more expensive. Brick and mortar has reverse CAC where it is expensive at first but throughout time becomes cheaper than ecommerce. Friends & Competitors: Don't worry too much about competitors in a market if you believe in your product or even price. Competition signals your customer is there. What Changes At Fifty Stores: The approach changes. Now you have to calculate expected ROI of opening another store in an existing market vs. a totally new market. How do you choose your 2nd store for DTC: First store should be in your HQ. 2nd store you need to know (1) Costs (2) Foot Traffic (3) Expected conversions (4) Average Order Value - from ecommerce sales. Plug the numbers in your P&L, if it checks out go for it. So much more stuff in here and I am going to be dripping it out over the next few weeks. Enjoy this gem.

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For me this is the point - how do we use technology to deliver results for our customers? We have been doing a lot of work to show brands and retailers the impact of having the right sizes in the right places. Reach out and we'll discuss what you are doing today and what your Sizeo ROI could be.

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Rich Freeman and I share some thoughts on outcome based pricing and how generative AI is shifting how we think about value, packaging and pricing of B2B SaaS. This is the main focus of our work at Ibbaka at present. #pricing #AI #B2B #SaaS #monetization #outcomebasedpricing https://lnkd.in/gbT9VkVE

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DYNAMIC PRICING: RETAIL'S PROGRAMMATIC AUCTION? - 22% of US consumers avoid businesses with dynamic pricing (NerdWallet/Harris Poll). - 25% would use dynamic pricing for lower costs. - Wendy's and Walmart faced backlash over digital pricing practices. - 40% believe digital price tags worsen their shopping experience (CivicScience) - 68% view dynamic pricing as price gouging (CivicScience) Retailers must clarify benefits to consumers and tread carefully with pricing changes amidst inflation concerns. 📖 Article : https://lnkd.in/e5agYgQd 🌎To learn more join the AdTechGod Slack Community: https://lnkd.in/g-XzVDkX ✉️Sign up for the Marketecture Media newsletter: https://lnkd.in/gm85yuaf

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The U.S. advance retail sales report for October that was published today pointed to generally resilient consumer confidence. The October print came in at 0.1 points higher than consensus estimates, growing at 0.4 percent m/m and 2.8 y/y. The revised September print was doubled from the last estimate at 0.8 percent m/m. Spending was generally fairly strong across most sectors while those of interest to FSW Markets were sort of in between. Clothing and clothing accessories were down -0.2 percent from last month, but remain up almost 3 percent y/y. However, department stories continue to decline with a -0.2 decline m/m matched by zero growth y/y with deep discounting failing to lift volumes. The FSW Markets All Luxury Index, which is global and bit broader than just fashion, is down almost 12 percent on the year but relatively strong U.S. growth has helped offset especially weak growth in Asia and mixed results in Europe. Yet the SPDR S&P Retail ETF (XRT) is up over 9 percent on the year. https://lnkd.in/eCMhNmQt

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My last 20 years of experience with the retail industry taught me that ‘apparently simple’ problem of ‘demand forecasting’ has never been solved. Typical problems of ‘out of stock’ and ‘over stock’ are still prevailing in our high tech retail tech world of AI. My recent discussion with couple of my CIO friends reconfirmed my hypothesis that ‘demand forecasting’ unless supported by ‘supply chain’ and ‘last mile logistics’, it is bound to fail. The challenge does come from technology infrastructure. It really comes from understanding of data, interpretation and using multivariate analysis to a decision path and outcome. McKinsey’s article clearly emphasizes the lessons we learn in this regard. #retail #retailtech #AI #logistics #supplychain #demandforecasting #overstock #outofstock #deeplearning #Mckinsey #epam

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Two facts: 1) BigCommerce appointed Travis Hess, who joined the company as President this past May, as its new CEO. 2) Businesses that Travis Hess lead get acquired. From BigCommerce's announcement: Hess previously held senior leadership roles at Accenture, where he led the firm's D2C commerce offering and go-to-market strategy. He has also served on partner advisory boards for Shopify, Klaviyo, SAP/Hybris, and Rackspace Technology. Prior to his time at Accenture, Hess was VP of The Stable, an omnichannel commerce agency that was acquired by Accenture, and before that, CEO of BVA, a Shopify agency, which was acquired by The Stable in 2021. 👀 See the pattern here? Everywhere Travis Hess works gets acquired! Earlier this year in May, I reported that BigCommerce was exploring a sale after attracting takeover interest, according to Reuters sources. The sources said that BigCommerce asked investment bank Qatalyst Partners to solicit interest from potential buyers that include private equity firms, but that the discussions were at an early stage and no deal was certain. Industry folks have been speculating for years that BigCommerce should / would get acquired. The company has lost more than 90% of its market value in the four years since its IPO in Aug 2020 and currently holds a market cap of $447M, down from its brief ~$12B valuation in Aug 2020. Rick Watson reported in August that BigCommerce told Wall Street it is no longer for sale, per a research note from Ken Wong, CFA at Oppenheimer. However who's to say that that the For Sale sign isn't switched back on as quickly as it was switched off? Perhaps the leadership shakeup at BigCommerce is in preparation for the company's sale, as Hess comes with tremendous experience leading companies through an acquisition. But that's purely speculation... Either way, I wish BigCommerce the best of luck with the transition, and if not sold, I hope to see great things from the company next year. I'll be keep you posted via my Shopifreaks E-Commerce Newsletter. Next edition drops this afternoon.

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𝗧𝗵𝗲 𝗘𝘃𝗼𝗹𝘂𝘁𝗶𝗼𝗻 𝗼𝗳 𝗥𝗲𝘁𝗮𝗶𝗹 𝗘𝗳𝗳𝗶𝗰𝗶𝗲𝗻𝗰𝘆, and why it is critical for retailers today. With the massive growth in digital during Covid-19, many didn’t focus on efficiency - just get it done was the mantra. Now with two years of negative or at best flat growth in eCommerce, the focus has very much changed to profitability. And, for many retailers, it's an existential problem. We’ve seen major retailers and brands fail due to lack of profitability. We all need to learn from this and work out how we can do more, with less. A month or so back, Michael and I together with Mark and David had the opportunity to delve into why focusing on efficiency has become paramount for retailers. With digital growth stabilising post-pandemic, efficiency emerges as one of the key driver of sustainable profitability. In this, the sixth episode in this season's Multichannel Success Podcast, we share our thoughts on the shift from explosive digital growth to strategic investment decisions that improve the bottom-line. With the crucial role of technology in improving efficiency, we also discuss how #eCommerce integration, reducing time to market, and managing product information are key to staying competitive. Plus, we touch on the importance of company culture and employee experience in driving efficiency. The future of retail efficiency looks to be a blend of AI augmentation and a more interconnected, transparent organisation that focuses on value-added activities. Measuring efficiency can involve siple measure such as Revenue per Employee, all the way through to  compoun measures such as how quickly products go to market, all whilst dealing with more channels and greater content demands. Unit economics provides the real understanding of performance.   Retailers be warned - you need to get ready for this! LISTEN HERE: https://lnkd.in/enQ3QKJh As always, we at Sweft are delighted to have the opportunity to sponsor the Podcast - find out more about how you can optimise your eCommerce back-office operations at: https://www.gosweft.com/ #RetailEfficiency #multichannelsuccess

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Have you ever wondered what the average NPS is for your specific industry? Grocery, Streaming Media, and Retail have the highest indutry NPS scores. By the way, these benchmarks are natively built into the Qualtrics experiences so you can monitor and track them as often as you like. Go see where your industry is and then let’s work on any improvements you want to make.

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I like to monitor the Top Rated Stitch Alternatives on our G2 page. Yes, of course, I love to see the incredible, authentic, and direct feedback on how we are doing (currently at 4.9 out of 5, with 45 reviews collected this year). As most know, I’m also very competitive. So, yes, I want to win for our customers, but I also want to be the best at what we do. So, I love seeing our overall score AND the higher number of reviews on the first page. If you dig down a level to view the top 10 Stitch alternatives, only Accenture has more reviews than Stitch… For now.  #Braze #StitchAndBraze #Loyalty

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As a data strategy nerd, I found this article particularly insightful, offering the perspective of a leading #CPG marketer, Colgate-Palmolive, who is placing consumer and customer #data at the core of their #marketing #strategy and #tactics. 1. Collecting & Prioritizing First-Party Data: Colgate-Palmolive has redesigned its digital properties and apps to prioritize the collection of first-party data, such as email addresses and user consent. This approach not only reduces their reliance on third-party data but also aligns with evolving data privacy regulations and mitigates risk. 2. Quality Over Quantity: The company highlights the importance of collecting high-quality, declarative, deterministic data. By focusing on data that is intentionally gathered to provide personalized and valuable content. Colgate-Palmolive avoids the pitfalls of amassing large quantities of data without clear purpose, as demonstrated by their Hill’s pet food brand. 3. Investing in the Right Tools: Colgate-Palmolive is building a robust data infrastructure, including a customer data platform (CDP) and a customized martech stack. This investment ensures that the data collected is well-organized, effectively managed, and utilized across various channels. By doing so, they aim to achieve a unified view of the customer, enabling more personalized and impactful marketing strategies. Safe controlled data collaboration (#cleanroom) will be key when they activate and measure their advertising. 4. Future-Proofing: This first-party data strategy is designed to future-proof their marketing efforts. Instead of viewing the decline of third-party cookies as a challenge, Colgate-Palmolive sees it as an opportunity to strengthen direct relationships with consumers and better position their brand against direct-to-consumer (DTC) competitors. #datacollaboration #contentpersonalization #personalization #DigitalAdvertising #DigitalMarketing #CDP #Privacy https://lnkd.in/gmbVi-9P

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