Retail Value Chain, Data Sharing, Customer Retention, Campaigns Corner | Monthly Snacks #93
Retail Value Chain: Understanding Its Importance for Business
The retail value chain is essential for driving business success. It encompasses all activities from product design to delivery, impacting every step of bringing a product to consumers. By understanding and managing the retail value chain, businesses can streamline processes, reduce costs, and improve overall efficiency. This not only enhances internal operations but also fosters better collaboration with suppliers and partners, leading to a more cohesive and resilient supply network.
In addition to improving efficiency, a well-managed retail value chain boosts customer satisfaction and provides a competitive edge. By ensuring timely delivery, excellent service, and personalized offerings, businesses can increase customer loyalty and drive long-term success. Leveraging technology and building strong supplier relationships further optimize the value chain, helping businesses adapt swiftly to market changes and stand out from competitors. Read the full article here to delve deeper into the stages and significance of the retail value chain for your business.
What experts say
Curious about the latest trends in retail? We've got you covered! Check out these fresh insights from industry experts shared at Shoptalk!
Navigating the shifting dynamics of industry relationships is crucial in today’s retail landscape. The key advice from experts is the importance of data sharing and collaboration between retailers, FMCGs, and marketplaces. Bruno Mourão , Head of Ecosystem at SONAE , emphasized adapting to new features like drop-shipping and retail media, and highlighted Sonae’s self-service portal, which provides suppliers with data and analytics for deeper insights. "A 360-degree vision of the customer is critical, and tracking behavior across channels and platforms is key for us and our partners.” Mourão stated.
Yann Fontaine , CEO of Miravia , and Marcin Polchlopek , Group Vice President at Allegro , reinforced this by discussing the vital role of data sharing in enhancing business efficiency. Fontaine mentioned that Miravia's open data-sharing policy helps sellers leverage insights on categories and competitors. Polchlopek explained that Allegro offers trading, communication, media, and consumer data to sellers, facilitating a better understanding of market dynamics. "It is a win-win-win for sellers, the marketplace, and consumers." Polchlopek noted, highlighting the comprehensive benefits of data collaboration.
Discover more from the experts present at Shoptalk, here!
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Statistic of the Week
A study by Harvard Business Review found that increasing customer retention rates by 5% increases profits by 25% to 95%. This highlights the significant impact of customer loyalty on a business's bottom line. By retaining more customers, businesses can substantially boost their profitability, as loyal customers tend to make repeat purchases and are less expensive to serve compared to acquiring new customers.
Explore our latest article about the insights of the retail value chain, here.
Campaign Corner
Supermasymas has been awarded Second Prize for Best Development Action at the AECOC Shopper Marketing and Innovation Awards for their groundbreaking Cola Cao campaign.
Using Tokinomo's Shelfobot technology, the campaign created an interactive shopping experience inside refrigerators, significantly increasing customer engagement and sales. The campaign's success highlights the innovative execution and market impact achieved through the collaboration with Masymas Hijos de Luis Rodriguez. Learn more about the insights and impact of the Cola Cao and Tokinomo Shelfobot collaboration here.
Pinar collaborated with Tokinomo
to launch a successful in-store marketing campaign for the Kido product in Turkey. Executed by the skilled Plus Scope team, the campaign used Tokinomo's dynamic Shelfobot technology to bring the Kido product to life on shelves, capturing the attention of young shoppers and boosting brand visibility and interaction. This creative approach demonstrated Pinar's commitment to advanced marketing technologies and resulted in significant consumer engagement. Discover more about how the Pinar Kido campaign set a new benchmark in retail marketing here.
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