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Market Pulse & Looking Ahead with 4 Industry Leaders
Manage episode 335023767 series 2801738
Treść dostarczona przez Benno Duenkelsbuehler. Cała zawartość podcastów, w tym odcinki, grafika i opisy podcastów, jest przesyłana i udostępniana bezpośrednio przez Benno Duenkelsbuehler lub jego partnera na platformie podcastów. Jeśli uważasz, że ktoś wykorzystuje Twoje dzieło chronione prawem autorskim bez Twojej zgody, możesz postępować zgodnie z procedurą opisaną tutaj https://pl.player.fm/legal.
Are you looking for a Third Growth Option ℠ ?
Four consumer executives shared their thoughts on how volatile consumer spending (from lockdowns to supply chain chaos, increased demand and now 9% inflation) that affected 2020/21 is shaping up to affect the second half of 2022 and going into 2023.
Real insights from real-world leaders: Allison Barrows (VP at Ganz, a designer/distributor of gift, décor, and apparel), John Toler (CEO at Evergreen Enterprises, a distributor/manufacturer of outdoor living and home products), Joe Harris (Chief Revenue Officer at Whereoware, a digital agency) and Doug Cofiell (CEO at Ivystone, a national sales agency)
2:45 – the smartest retailers were “the ones who figured out exactly how to manage their inventory.”
4:47 – most common retailer product request at Summer 2022 markets (at Ganz): “lower price point items… ‘pick me up, feel good’ items”
6:24 – on digital infrastructure spending: “digital continues to be an important part of the go-to-market strategy, and those who are investing, are seeing the returns.”
8:08 – Online consumers will “continue to grow.”
9:31 – “The shifting in merchandise mix has gone from making my home look pretty, to making me feel better… from the home to me.”
10:00 – “Higher end (design side of the business) doesn’t have much slow down.”
14:13 – I asked each guest to describe consumer spending on a scale of 1 to 10, across three time periods. The average of all four replies (with significant differences between product categories):
- 2019/pre-Covid – consumer spending was an “8” (of 10)
- 2020/2021 – consumer spending was a “10 (or 12) out of 10” (off the charts)
- Going into 2023 – 8.5 or 9+, better than pre-Covid
18:52 – “We sold Garden 2023 for the last 45 days… and purchasing is down vs. 2021… but above 2019.”
20:36 – “We chased demand and built capacity (the last two years)… so the cost side and inventory needs to be looked at… for retailers, vendors, and sales agencies.”
22:00 – “There’s been so much volatility… as we start to settle back down, to understand… the appropriate costs.”
23:26 – Next year will be all about “Data. It’s all about making the data actionable.”
25:02 – “The second big thing is the customer (digital) experience, it’s not just about ‘look’ but it’s all about being seamless, easy to use (multi-channel integration).”
27:56 – The best retailers “recognize the consumer is changing… and are combining the digital and the physical really well.”
31:20 – what’s on our minds as we think about growth in 2023? “Aggressive” – “Customer Experience” – “Daring and Risk-taking.”
Always growing.
Benno Duenkelsbuehler
CEO & Chief Sherpa of (re)ALIGN
152 odcinków
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