How are retail trends helping shape the future of FMCG?
As you heard last week, cultural analysis is one way that you can predict the future. Understanding what’s driving retailers is another.
The Retailer Drivers
- Omnichannel: The channel to market space, how retailers are reaching customers.
- Innovation: How retailers and suppliers are innovating through new products, technologies and ways of doing business.
- Price and promo: Trends relating to promotions, bargains and prices.
- Reputation: What's happening in the sustainability space.
- Supply chain: The challenges facing supply chan and how companies are finding innovative solutions.
- Data: How retailers and suppliers are using data to gain insights, drive growth and overcome business challenges.
- Partnerships: How retailers and suppliers partner to bring new solutions to market.
- Experience: How customer and in-store experiences are evolving and what CX solutions companies are bringing to market.
We worked with Advantage Group to develop Pluto, a technology tool that aggregates global FMCG digital news – over six million pieces of content annually - and applies machine learning to categorise them into what we call ‘Retailer Drivers’.
Pluto curates data from across the English language internet and the social web and combines this with Advantage’s qualitative feedback to get a pulse of the global grocery industry.
Pluto has tracked the global digital conversation around supermarket and FMCG since 2017.
And since Covid-19 hit we’ve seen a dramatic change. While Supply Chain has always been important, the conversation around this grew to totally unprecedented levels in March and April 2020, when the pandemic first hit. Topics like panic buying, bare shelves, and shortages on hand sanitiser and toilet paper dominated the retailer drivers (and our own conversations around the water cooler!)
At the same time, the Experience driver also grew, with topics like social distancing and limiting shopper numbers on the rise.
As 2020 progressed, Omnichannel was over represented in the conversation as all retailers launched or significantly shifted their eCommerce offering. There was huge conversation around click and collect, curb side pick-up and car boot delivery.
As the world looks towards recover, the drivers of Innovation and Reputation (aka sustainability) have shown the most growth. Retailers are looking to build back better, talking about like autonomous delivery and plant based food, and sustainability issues like single use plastic, food waste and carbon emissions.
How can you use this information?
Pluto helps you put retailers’ strategies into context. If you understand what’s driving them, you can develop your own strategy to meet these demands. For New Zealand marketers, looking at what’s happening overseas offers exciting glimpses of the future.
Explore Pluto now
As an FMCG insights subscriber, we’ve set you up with free access to Pluto:
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Want to know more before you get started? Watch this video tutorial to help you navigate the dashboard.