In July of 2011, ChaseDesign LLC president Martin Cregg was a featured speaker at the Store Brands Decisions Innovation & Marketing Summit in Chicago. In the audience, 250 industry executives listened to Marty describe how the rise of electronic shopping is influencing store design and retail formats, and how the ensuing changes will affect store brands.
Among his key points:
- Electronic commerce is shrinking brick & mortar store formats, prompting a reduction of SKUs or elimination of product categories altogether.
- As shoppers move to online commerce, private labels need to move online with them.
- Mobile technology enables shoppers to comparison shop from a single store. They know the lowest price.
- Unless you use the same language the shopper uses, they may not believe a product is for them.
- Unless your store looks like a place that should sell a certain product, the shopper will be reluctant to buy it.