Retail Transformation Driving an Incentive Evolution
Retail transformation is necessary to adapt to continuing changes to consumer behaviors. When we think about changes in retail, we tend to think Amazon or Internet retailing. These however are just the latest disruptions. Looking back over the last century retail has been in a constant state of disruption and the need for retail transformation is ever present.
Each time a new disrupter emerges brands and retailers are forced to change or die. A good example of this is seven of the eight largest retailers in the 1980s were acquired or out of business by the turn of the century. Over the last decade we’ve seen over twenty five percent of all malls close.
The real question is not if retail transformation needs to happen, but what changes are necessary today and how do brands encourage retailers to make them happen?
When it comes to changing behavior with distributors, retailers and even consumers incentives are a brand’s tool of choice. Our latest webinar takes on how incentives are evolving to meet today’s retail transformation needs.
This webinar will cover the latest forces changing retail, how retail incentives are evolving and what brands should consider doing to evolve their incentive practices. This includes:
Factors Driving Retail Change
- New Technologies
- Reduced Barriers of Entry
- More Products & Choices
- Value Chain Unbundling
- Rise of the Informed Consumer
Necessary Retail Changes
- Deciding when/where/how to engage consumers
- Using the latest technologies to engage consumers
- Developing content to educate and inform
- Actively managing online reputation
Effectively Using Incentives
- Introducing the Incentive Planning Model
- Movement from Volume to Value
- Paying More Attention to the User Experience
- Soliciting Feedback
- Rethinking breakage
This webinar will help brands and retailers work together more effectively to address market change and stay ahead of constantly evolving transformational requirements. 360insights is a global channel incentives leader offering consumer and volume rebates, SPIFFs, CO-OP Advertising & MDF programs and analytics & insights.