It is likely your existing approach has been, at best, reshaped or more likely turned on its head.
We can help you through tough commercial decisions, help you engage and motivate your teams on the right course of action.
How we shop and what we consume/where has changed with the impact of Covid 19. And as we continue to face lock down restrictions some of these changes are likely to stick.
According to research firm Global Data, the online grocery market is now forecast to grow 25.5% in 2020. This is significantly ahead of the 8.5% previously anticipated in the UK.
Contrast that with Trade body UKHospitality predicting the industry will lose almost half of its usual £133bn annual sales in 2020 due to lost tourism, enforced closures and consumers unease in returning to food and drink venues.
These seismic channel shifts mean consumer-goods makers are having to re-think where their revenue will come from.
This will bring multiple questions such as:
How do you re-focus your investment toward growth channels?
What adjustments do you need to make to your pack price architecture?
Do you need to increase or lower your prices?
We help you make the right choices on your channel pricing, pack strategy and trade investment by approaching the whole topic in a holistic manner.
We consider the positions of all involved – from internal teams, to customers and ultimately to how consumers will react.
We partner with our clients from strategy through to trade implementation to help you make the right choices to deliver profitable growth faster.
We start by understanding the strategic context and understanding your commercial objectives. Considering your valued based pricing approach and your price pack strategy.
We use our analytics capability to understand the price sensitivity of your products in different channels and the effectiveness of your existing trade spend. We help you understand the volume, sales and profit impact of your pricing and promotional decisions.
We go on a journey with your commercial teams to construct your strategic pricing plan. We take into consideration your marketing, supply chain and commercial situation to create a unified view that your whole team is comfortable with.
Once the plan is agreed internally, we build the confidence in your teams to land it externally.
We help you articulate your channel pricing rationale to trade partners and model the impact for you and your customers. We work directly with your teams across all levels to help them prepare their pricing plan and negotiation strategy through tailored capability training and coaching.
Here's how we worked with a leading global soft drinks player to build and land an evidence based strategic pricing plan:
And we can do the same for you. Please get in touch for an exploratory discussion.