Patrick I. Kim

Hello Retail Friends, I am proud to announce that RELEX is once again designated as a Leader in The Forrester Wave™: Collaborative Supply Networks, Q4 2024 report. This prestigious recognition underscores our commitment to enhancing supply chain transparency, resilience, and efficiency for US retailers. Our top scores in innovation, vision, and several key areas, including embedded AI and ML, highlight our dedication to providing cutting-edge solutions. These capabilities enable seamless collaboration between retailers and suppliers, ensuring that our customers can anticipate changes in demand and supply, and continuously align production and transportation schedules. This acknowledgment from Forrester reaffirms our mission to drive mutual success through advanced supply chain and retail planning capabilities. We remain committed to delivering the tools necessary for our customers to achieve unparalleled supply chain visibility and operational excellence. Read the full press release here: https://bit.ly/3YJHbFU #SupplyChain #Forrester #AI #Innovation #RetailExcellence RELEX recognized as a Leader for the first time in this report by independent analyst firm, for demonstrating “a superior vision of an adaptive and autonomous supply chain…”…  

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As the grocery shopping landscape in Asia undergoes a significant transformation, it is essential for us industry leaders to grasp the evolving trends and adapt strategies accordingly. The recently released NIQ 2024 Shopper Trends report offers a comprehensive overview of the changes shaping the future of retail in this vibrant region. This report underscores a pivotal moment for manufacturers and retailers as we respond to shifting consumer behaviors and expectations. The insights from the report are invaluable as we chart our course for the future. At Fisher Supermarket, we are adapting to these changes by building on our foundational vision of offering Filipinos the freshest and most affordable seafood in town. By embracing the changes and aligning our strategies with evolving shopper behaviors, we are well-positioned to build lasting customer loyalty and drive success in this dynamic retail environment. As we move forward, our focus remains on delivering excellence and innovation to meet the ever-changing needs of our customers. Together with our partners and stakeholders, Fisher Supermarket is excited to embrace the opportunities ahead and redefine the future of grocery shopping in Asia. Learn more about the trends shaping the retail landscape in Asia here: https://lnkd.in/g5Z8dfjv

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✨ Still feeling the energy from our dynamic discussion on "Navigating Through Your Transformational AI and Commercial Capabilities Journey." 🌟 I had the honor of moderating an insightful dialogue with industry leaders Mohasin Mithu (VP, RGM, PepsiCo), Curt Balara (VP, RGM, Kimberly-Clark Corporation), and Matt Campbell (MD, Accenture). Together, they delved into the transformative power of advanced analytics and AI in reshaping Revenue Growth Management strategies. Leaving inspired and equipped to embrace the future of RGM with unwavering confidence and purpose. 🚀 #POI2024Chicago #CPGIndustry #CPG #CPGSolutions #CPGTechnology #POISpringSummit #POISummit #AI #Analytics #BusinessTransformation

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What do grocery data (how, when, and what you buy) and traditional credit scores have in common?  According to research by Professor Eric Anderson and his colleagues at Northwestern University - Kellogg School of Management, they both effectively predict how consistently you’ll pay off your credit card bills, making it an interesting alternative for lenders to gauge the creditworthiness of applicants who have no credit score. This could bring new customers to banks and improve access to credit for the 26 million in the US (and more than a billion globally) who are “unbanked.” Some findings: - People with consistent supermarket behaviors tend to pay their credit cards on time: They shop at regular times of the day and weekdays. They make repeat purchases. They spend about the same amount of money each time and look for bargains. Even controlling for credit scores, income, and socio-demographic factors, there was a correlation between grocery habits and credit risk. - It’s not just about how you shop but what you buy: Cigarette purchases are a big predictor someone will default (i.e., miss two consecutive credit card payments), as are those of highly processed foods and energy drinks. “The single greatest indicator of a non-defaulter. . . was spending a significant amount on vinegar salad dressing,” as well as ingredients that suggest healthier eating and home cooking, such as milk, flour, beans, and fresh produce. - Grocery data is most effective in determining the creditworthiness of credit card applicants who don’t yet have credit scores, but less effective in incrementally assessing those who already do. Similarly, the data is most helpful at predicting whether someone will default soon after they get a credit card; less useful once they begin to build a credit score. “‘That’s the world we’re heading towards, which is your data is going to be cutting across lots of different domains and being used in ways you may not have thought before,’ Anderson says.” On the one hand, it could provide access to a loan in the case of an emergency to those who might not otherwise be able to get one, and it can help lenders anticipate a default and intervene in advance, which is better for everyone. “Still, . . . the idea that the choices you make while filling up your grocery cart could impact other parts of your life in ways you don’t understand, or consent to, may sit uneasily with many.” #credit #data #shopping #shoppers #consistency #habits #creditrisk #supermarket #insights

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Experiential retail is evolving, for example, Ace Hardware’s focus on experiential store models, like Elevate Ace. Their efforts have been driving growth by offering expanded product assortments and brand showrooms. On top of in-store success, online sales are up 16%, showing that brick-and-mortar stores can thrive in the age of e-commerce. With a commitment to opening 200 new stores this year, Ace is proving that physical retail is still relevant in today's digital world. Keep an eye out for innovators that are leading the way in retail trends! #AceHardware #InnovativeStores #BrickandMortar #Retail #Ecommerce

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"Let’s face it: consumers are more educated than ever, and with price comparison at their fingertips, they’re also savvier than ever, heightening their expectations to get exactly what they want – and at the best price available,” says Advantage Solutions Michael Taylor in his latest @Forbes piece.    Michael dives into the opportunities and challenges of serving today’s discerning #shoppers. He emphasizes the need for retailers and brands to embrace multicultural influences and adventurous flavor profiles, cater to the diverse tastes of modern consumers, and leverage design, form and function to enhance product appeal.     Highly recommend taking a read for some actionable strategies for staying ahead in a competitive market. Great piece, Michael!    #RetailInnovation #ConsumerTrends #LeadershipInsights #ConsumerBehavior

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When I first heard about "The Path", I knew I would take the call. So when the call came, I jumped at the opportunity to be a voice for Consumer Insights and Analytics to help others discover what we do. How often do you find yourself wondering if anyone considered the target audience, potential buyer or optimized offerings based on consumer feedback? With the influx of data from a variety of sources, we must remind businesses that there is a profession known for translating data along with other key inputs into meaningful insights that will deliver profitable & sustainable growth strategies! #ThePathtoInsights #ConsumerFirst #DataAnalytics #Foresight #LeadWithInsights #StrategicInsights https://lnkd.in/gnh2rhAe

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This is great news for customers and retailers! 👏 I truly believe any review is better than no review. Even if the review is not positive, brands can learn from their customers, create a dialogue with them, and improve the customer experience with feedback. As for customers - they also have the opportunity to weigh in if another’s opinion or review is applicable or matters to them. #Retailers #Reviews #FakeReviews

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Did you skip attending IDDBA 2024? Catch this summary of our biggest takeaways from Jonna Parker, Circana's Fresh Foods Group Team Lead. Discover insights on evolving shopper desires: value, excitement, convenience, international flavors, and gourmet accessories. #RetailTrends #ShopperInsights

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If it feels like we have been in Holiday Sale mode for some time, we have.. actually since before Halloween. We are entering the all-imporant home stretch of the retail season with some reasonably positive traction. Short term consumer sentiment in the U.S. is up 17% . Consumers are relieved to have the election over, for now. Retail and brand performances for the last quarter and YTD, which are barometers for the rest of the year, reflected consumer resilience. But consumers are continuing to reward brands and retailers that have unlocked consumer experience, product and pricing preferences. Walmart continued to outperform in the quarter and YTD with U.S. Comps ex Fuel +7%; Target’s YTD Comps were -2%. At Walmart, they have balanced National Brands such as U.S. Polo Assn., and Wrangler with their powerful portfolio of private label brands such as No Boundaries and Free Assembly each a multi-billion-dollar brand. Consumers continue to love the “hunt”, whether in the Clubs or in the Off-Price sector. In the last quarter, comp sales were +7% at Sam’s (x gas) , +3.8% at B.J., and +7.7% YTD at Costco U.S. (x gas). Even lapping several years of incredible growth, “Off-Price” continues to trend positively with comp sales last quarter: Burlington +1%, TJX +3%, Ross +1%, Nordstrom Rack +4% comp. The shift to specialty, vertical brands continues. The stars include Abercrombie & Fitch +16% total comp, Aritzia +6.5% comp, Decker’s +17% DTC comp (led by Hoka), Athleta (GAP) +5% comp, Sketchers +16%, and Anthropology +5.8% comp (Urban Outfitters). And Levi’s and Kontoor Brands (Wrangler) have intensified their Direct-to-Consumer platforms to fully control the customer experience with very positive results. The Department Store sector continues to try to re-engage with consumers, especially younger consumers. But In spite of multiple attempts to energizet Kohl's with new concepts, their stores lack of true point of view, as reflected in their -9% comps. Macy’s and Bloomingdale’s howver, have worked hard to restore the customer experience.The new jewelry and watch department at a suburban Bloomingdale’s is world class, with staffing to match. Positive improvements can be felt at the Macy’s go forward stores also, with imrproved comps. Nordstrom comps were +3.9% reflecting better assortments and service. The Luxury sector has hurt by multiple factors, including economic headwinds that left aspirational consumers on the sidelines; and the China marketplace for luxury has imploded. Exceptions include Hermes+14% and Prada +18% ( fueled by Miu Miu). The Home sector continues to struggle, facing a trifecta of high interest rate and mortgage rates, and inflation deflating demand for furniture, appliances and home improvement. Two shining exceptions: Shark Ninja +30%, and Yeti +10%. They have driven sales through product development and great innovation. After Thanksgiving, we will comment on the Fitness, Travel and Jewelry Sectors. Happy Thanksgiving!  

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🚀What kind of hardware is best for thick Vs thin consistencies and everything in between?Nextvapor Novo vape is a hit for the mass market. * Anti Clogging * Anti Leaking * 0.5ml /1.0mlX2ml Capacity * 8 Second Pre-heat Function * 3 variable voltage Settings * Central Post Free, Metal Free #Nextvapor #AIO #Allinonedisposable #Disposablevape #Allinone #710vape #420vape

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Dollar General is enhancing its retail media program by teaming up with solutions provider Criteo. The commerce media platform will work with the retailer's Dollar General Media Network (DGMN) arm to support onsite sponsored ad offerings. Through this arrangement, brand partners can access inventory and campaign execution and utilize Criteo’s self-service demand-side platform. Among other capabilities, brands can leverage DGMN’s inventory within their private market through Criteo’s retailer monetization platform. In addition, the technology enables brands to reach Dollar General’s digital customers who often build lists online before making their weekly in-store purchases. Omnichannel insights will be available for marketers to see if sales are taking place online or in-store. | Progressive Grocer https://lnkd.in/gATgumgr #retail #retailmedia #grocery #shoppers #media #digital

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Over the past few weeks Ive been diving deeper into understanding the ever-evolving impact AI is having on the retail landscape. Having led teams for many years who were managing the complexities of global pricing strategies and looking at the incredible pace at which technology is evolving to drive change in this area, one thing is clear to me: the age of traditional pricing strategies is over. In today's complex retail landscape, marked by persistent cost inflation, supply chain volatility, shifting consumer behaviour, and intense price competition, relying on outdated rule-based approaches is no longer viable. The power of AI-driven solutions and dynamic pricing models have rapidly become must-haves for retailers and brands alike. Read more about how AI is revolutionizing retail pricing in this insightful article by Boston Consulting Group #artificialintelligence #pricingstrategy

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DTC/Digital Native Brands struggle to achieve scale. CPG portfolio's are stagnating. Consumers are trading down, and retailers owned brands are disproportionately growing. Target, Costco, Trader Joes, and Aldi owned brands are winning. Now Walmart has launched a formidable new elevated basics brand, BetterGoods. The best way to beat the Amazon/Temu/Shein/TikTok marketplaces is to sell products they don't have.

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After a couple down years for some key hardware segments, things are looking up for 2024 and beyond. The latest report from the Consumer Technology Association shows hardware representing $341B in value last year alone - and projecting growth in 2024. Everything related to hardware is also tracking UP - gaming, video, smart home, audio, health & fitness - which makes quality hardware more important. Personally, I think your TV is the most important piece of quality hardware you need for your home. Agree? I’m headed to the CTA CEO Summit in Sweden next week to talk to some amazing leaders about the future of tech – and I’m sure we’ll discuss what this growth means for innovation. Will report back!

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Byron Sharp's book "How Brands Grow" challenges many conventional marketing practices and provides research-based approaches to understanding how brands can effectively grow in today’s marketplace. Some key take-aways are summarized below. 1. The Law of Double Jeopardy: Smaller brands not only have fewer customers but also face less loyalty from those customers compared to larger brands. Consequently, bigger brands benefit from both a larger customer base and higher retention rates. 2. Importance of Reach: Successful brands grow primarily by reaching more buyers rather than focusing solely on increasing loyalty from existing customers. This means that expanding the consumer base is crucial for growth. 3. Physical and Mental Availability: Brands need to be physically available (widely distributed) and mentally available (easily recalled by consumers). Marketing efforts should focus on enhancing visibility and recall. 4. Brand Distinctiveness: Brands should focus on being distinctive rather than just engaging in emotional branding. This includes creating recognizable logos, packaging, and advertising that help consumers identify the brand easily. 5. Non-Linear Purchase Process: Many purchases are not the result of a deliberate decision-making process. People often buy on impulse or based on availability rather than conducting extensive evaluations of brands. 6. Market Penetration: Sharp emphasizes that effective brand growth comes from a strategy aimed at increasing market penetration rather than just higher purchase frequency among existing customers. 7. Loyalty: While loyalty is important, its role is often exaggerated. Brands should recognize that many customers may not be loyal, and marketing should cater to a broader audience. Empirical Evidence Over Intuition: Sharp advocates for data-driven marketing strategies based on empirical research rather than relying on intuition or traditional views about brand loyalty. Which of these challenge your current marketing truths? Do you disagree with any of these take-aways?

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As we enter Q2 of 2024, I have been asked about key trends relative to the current strength of the consumer in the U.S. Despite headlines showing endless resiliency, we have seen some softness in purchasing behavior on the consumer front, especially in January and February, with a rebound since March.   Q1 also brought dynamic changes in the consumer goods sector's M&A landscape. Key highlights include:   Health Focus: Significant deals like Medbase's acquisition of Zur Rose Group reflect a growing emphasis on health and wellness. Luxury and Efficiency: Firms like Tapestry are strategically acquiring to enhance luxury portfolios and operational efficiency. Tech Integration: Investments in AI and digital capabilities are driving better consumer engagement and operational agility. Strategic Consolidations: Companies are optimizing their portfolios by focusing on core areas and divesting non-core assets. Global Investments: Cross-border M&A remains strong, targeting regions with high growth potential.   Despite economic uncertainties, these trends show the sector's resilience and strategic focus on long-term growth.   #ConsumerGoods #MnA #BusinessStrategy #HealthAndWellness #DigitalTransformation

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