In today’s retail environment disruption abounds. Shoppers demand commerce on their terms, value has become increasingly personalized and contextualized, and multichannel commerce realities are challenging traditional retail profit models.
“Adapting to and capitalizing on these disruptions is a formidable challenge for our clients. Only those retailers and suppliers who reengage shoppers, reimagine value, reinvent formats, and retool commerce will thrive,” states Andrew Stockwell, Chief Research Officer at Kantar Retail.
Kantar Retail’s strategic framework, “REconfigure REtail,” is designed to guide retailers and suppliers on how to reconfigure their retail strategies to adapt and win in today’s disruptive landscape.
Key elements of Kantar Retail’s framework include:
- REengage Shoppers. Retailers and suppliers must develop a robust understanding of their targeted shoppers across all touchpoints to drive distinctive offers, curated shopper experiences, and contextual engagement.
- REimagine Value. As the mechanics of value become more personal, dynamic, contextual, and volatile, retailers and suppliers need to reimagine value as previous sources of differentiation are increasingly commoditized. Shopper value in the future will be defined by those who deliver quality and service throughout the shopper’s brand journey.
- REinvent Format. Retailers and suppliers must reinvent store formats, blend digital and brick & mortar models, master the dynamics of in-store and online merchandising, and repurpose the store and how it will deliver reimagined value.
- REtool Commerce. Shoppers demand a seamless omni-channel experience and most retailers and suppliers do not deliver truly multichannel commerce. Only those retailers and suppliers who retool their commerce models will thrive in this new disruptive environment.
Throughout 2015 and beyond, Kantar Retail will incorporate analysis of these key themes as it guides its retail and supplier clients on how to succeed in this new retail age.
To learn more about REconfigure REtail, and read the entire article, click here.
Source: Kantar Retail
