Anticipating and following where Shoppers are most likely to be spending their money and influencing it to be on your brand is at the heart of a channel strategy.
Follow the money and be present in the Channels where it’s being spent
The Channel landscape has changed considerably in a relatively short space of time and continues to evolve at pace both physically and digitally, whether it’s through new formats or the expansion of e-commerce and many of these are starting to blur. In home dining is increasingly being serviced by out of home deliveries and e-commerce ordering can be fulfilled by Aggregators, who will go to multiple grocers to fulfil the order.
There’s increased fluidity and more options in where we choose to spend, irrespective of the level of disposable income. The challenge for brands is that if you’re not physically available it’s impossible to be bought but is it right to be everywhere? The cost to serve some channels may well outweigh the revenue it generates and even possibly damage a brand if its presence lacks relevance to the Shopper.
Developing a Channel Strategy so that all functions are clear on where to play and how will bring focus. In the selected Channels how we represent the brand through the mix of product, pack, price, promotion, placement and communication must be a reflection of the Shoppers’ missions and needs.
The impact on business growth of playing in the right channels
Being adaptable to the changes in how people shop, the Channels where they shop and evolving propositions so that the brand is showing up in the right way to win their spend, will ensure continued business growth.