Consumers want convenience shopping. Get in, get it done and get home. This will result in further growth in convenience and specialist stores volume, likely at the expense of the mega store.
Brand owners have to be agile and adapt to this trend. Investment and focus needs to shift from the bias of the mega store, key account management model to a more diverse one that captures growth and a larger contribution of sales coming from smaller accounts. This is harder. It requires more leg work. Many brand owners don’t have a clear focus, investment strategy, the resources or the relationships to grow the mid and lower tier outlet sales.
Without this adaptive and well engaged B2B2C model, brand owners will lose market share to competitors that have reacted faster and put this model in place.
This is a LinkedIn post originally posted in November 2020