Ahhh… yesterday. As much as we yearn for the good old days, life is constantly changing. Changes in our consumer culture will always translate to change in business methods. Knowing that change is constant, and staying flexible with methods to market products, is what will establish a long and fruitful shelf life.
Scenes from a science fiction episode in the 1950s: mom ordering groceries from a computer screen which are then delivered to the home; children viewing how their virtual bodies look in different styles of jeans before deciding which pair to buy; dad flipping through magazines on a small TV-like screen, then purchasing the products advertised, by the touch of his fingertips. An alien way of shopping. What was science fiction not too long ago is now a reality. Those in the business of selling need to learn to keep up with changing trends. If not, their products will become history.
The New Reality of Retail
Sellers, both retail and wholesale, need to face the new reality of current consumer shopping habits. In our fast-paced retail environment, consumers are looking for the fastest ways to find the products on which to spend their dollars. Where do they find them? Merchandisers need to find the right answer.
Reality of Buying
Before looking into how brands must sell their products, you must first look into the changes in consumer buying habits. Shoppers don’t window shop and purchase on a whim very often. The amount of information available at a consumer’s fingertips is overwhelming. Through mobile phones, shoppers can even try on clothing, then email or text the images to friends, who can then help decide what looks best and which item to eventually purchase.
Reality of Selling
Retailers, wholesalers, licensors, and licensees need to work together to sell the product. As the amount of product inventory is reduced and shelf-life shortened, calculations of supplies need to be increasingly accurate.
Retailers are the Brands
One good example of retailers being the brand is Macy’s. Macy’s manufactures the brands (INC), buys the brands (Waterford, Kate Spade, Lucky Brand Jeans), and promotes the brands (multi-celebrity commercials and Facebook posts). As more retailers are being bought out, or becoming associated with other brands, the whole distribution line must be coordinated in promoting the products. Be the brand of Macy’s, shop at Macy’s.