• Advertise
  • Contact Us
  • About Us
  • Supplier Directory
  • SCB YouTube
  • Login
  • Subscribe
  • Logout
  • My Profile
  • LOGISTICS
    • Air Cargo
    • All Logistics
    • Express/Small Shipments
    • Facility Location Planning
    • Freight Forwarding/Customs Brokerage
    • Global Gateways
    • Global Logistics
    • Last Mile Delivery
    • Logistics Outsourcing
    • LTL/Truckload Services
    • Ocean Transportation
    • Rail & Intermodal
    • Reverse Logistics
    • Service Parts Management
    • Transportation & Distribution
  • TECHNOLOGY
    • All Technology
    • Artificial Intelligence
    • Cloud & On-Demand Systems
    • Data Management (Big Data/IoT/Blockchain)
    • ERP & Enterprise Systems
    • Forecasting & Demand Planning
    • Global Trade Management
    • Inventory Planning/ Optimization
    • Product Lifecycle Management
    • Sales & Operations Planning
    • SC Finance & Revenue Management
    • SC Planning & Optimization
    • Sourcing/Procurement/SRM
    • Supply Chain Visibility
    • Transportation Management
  • GENERAL SCM
    • Business Strategy Alignment
    • Education & Professional Development
    • Global Supply Chain Management
    • Global Trade & Economics
    • HR & Labor Management
    • Quality & Metrics
    • Regulation & Compliance
    • SC Security & Risk Mgmt
    • Supply Chains in Crisis
    • Sustainability & Corporate Social Responsibility
  • WAREHOUSING
    • All Warehouse Services
    • Conveyors & Sortation
    • Lift Trucks & AGVs
    • Order Fulfillment
    • Packaging
    • RFID, Barcode, Mobility & Voice
    • Robotics
    • Warehouse Management Systems
  • INDUSTRIES
    • Aerospace & Defense
    • Apparel
    • Automotive
    • Chemicals & Energy
    • Consumer Packaged Goods
    • E-Commerce/Omni-Channel
    • Food & Beverage
    • Healthcare
    • High-Tech/Electronics
    • Industrial Manufacturing
    • Pharmaceutical/Biotech
    • Retail
  • THINK TANK
  • WEBINARS
    • On-Demand Webinars
    • Upcoming Webinars
    • Webinar Library
  • PODCASTS
  • VIDEOS
  • WHITEPAPERS
Home » The Retail Revolution: Five Key Components to Winning Customers

The Retail Revolution: Five Key Components to Winning Customers

The Retail Revolution
An online shopper types their credit card information on a laptop. Photo: Shutterstock.
February 6, 2019
Scott Moon, SCB Contributor

The world has never experienced a single marketplace where shoppers from anywhere in the world can buy from any vendor in the world, until today. 

This single characteristic has fundamentally changed the complexion of how retail operates. Early vendors knew their customers and provided products desired by their communities. The efficiency of the mall changed the dynamic by forcing vendors to merge into a destination where goods could be efficiently delivered. 

The internet has gone the next step by taking the shopping mall to the comfort of your home. You can search the globe and find exactly what you want, as you want it, when you want it, at the touch of your finger. 

Retail businesses are working to shift focus from a supply chain fixed structure to a customer-centric focus. This is a massive shift for retailers who have invested in warehouses and warehouse material handling systems, that were determining when a season would start and the cadence of when goods would be available. Today, consumers are determining the start and end of a season. Micro retailers are now popping up that provide exactly what is desired by consumers. 

Key components to winning customers:

Distributive logistics. Products must be in a forward location within a day of your customers. Inventories need to be easily managed so they do not expand, which ensures critical operating capital is maintained for the business.

Micro-marketing. Teams must know their customers, where they shop, and where they connect with friends. They must use digital platforms in creative ways to “talk” to their customers and understand their interests, likes and needs. They must engage their customer on all fronts (e.g., bricks and mortar, e-commerce, etc.). Products must be uniquely available to individual markets as desired. The days of a one-size-fits-all assortment is gone. Sellers must develop an assortment of products that engages each market uniquely.

Speedy design. Products must be generated quickly with high quality at affordable prices. Style, quality and cost must be closely managed and delivered in a timely framework. Manufacturing operations must be nimble and efficient. Product changeovers must be streamlined. Raw materials supply lines must be fundamentally changed to provide near real-time supply at a reasonable price.

Customer focus. Customers must become connected to your brand. Customers want more than a purveyor of goods, they want a business they can get behind and believe in. This requires that you create a relationship with your customers. You must engage them and understand their needs and drivers. It will take work, but any good relationship is worth investing in.

Access in multiple forms. Customers want an easy interaction and availability in any form when needed. This will require a balance of bricks and mortar and virtual shopping. Making the experience easy and user friendly says you value your customers' time.

Sellers must deliver their products in a construct where the customer perceives you are adding value in the process. They want to pay a reasonable price and receive benefits that recognize their importance in your growth and appreciation for their business.

The Outlook 

The retail revolution is upon us and buyers now hold the power position in the supply-demand curve. The retail operation must integrate all of today’s technology into a seamless and efficient supply chain to provide access to goods at the time and place where consumers want it. You must create a connection with your customers and understand their interest, needs and demand drivers. 

Scott Moon is vice president of solution modeling for MonarchFx.

RELATED CONTENT

RELATED VIDEOS

  • Related Articles

    The New Age of Inventory Planning

    Who Should Own Inventory Risk?

Scott Moon, SCB Contributor

More from this author

Subscribe to our Daily Newsletter!

Timely, incisive articles delivered directly to your inbox.

Popular Stories

  • DOCUMENTS BEARING THE INSIGNIA OF US CUSTOMS AND BORDER PROTECTION LIE ON A TABLE

    New CBP Regs Call for Greater Diligence by Brokers in Reporting Security Breaches

    Freight Forwarding/Customs Brokerage
  • A WORKER IN A WAREHOUSE, SUPERIMPOSED WITH GRAPHICS SHOWING SUPPLY NETWORK

    Enabling Intelligent Visibility With Supply Chain Analytics

    Data Management (Big Data/IoT/Blockchain)
  • A GROUP OF WORKERS RANGED IN AN OFFICE, OF DIVERSE RACE, GENDER, AGE AND PHYSICAL ABILITY

    Podcast | The Supply Chain Workforce of the Future Is Already Here

    HR & Labor Management
  • A HAND TURNS A LARGE, LIGHTED DIAL WITH THE WORD RISK ON IT iStock-NicoElNino-1364371014.jpg

    Measuring KPIs and KRIs for Comprehensive Supplier Performance Management

    Technology
  • INSIDE A WAREHOUSE, TWO HANDS HOLD A TABLET COMPUTER SHOWING A MAP OF THE WORLD

    Five Ways to Increase Supply Chain Visibility

    Data Management (Big Data/IoT/Blockchain)

Digital Edition

Scb nov 2022 sm

2022 Supply Chain Innovator of the Year

VIEW THE LATEST ISSUE

Case Studies

  • New Revenue for Cloud-Based TMS that Embeds Orderful’s Modern EDI Platform

  • Convenience Store Client Maximizes Profit and Improves Customer Service

  • A Digitally Native Footwear Brand Finds Rapid Fulfillment

  • Expanding Apparel Brand Scales Seamlessly with E-Commerce Technology

  • How a Global LSP Scaled its Security Program and Won More Business

Visit Our Sponsors

Orderful Yang Ming Alithya
Barcoding Blue Yonder BNSF Logistics
CoEnterprise Data Capture Deposco
E2open GAINSystems Generix
Geodis GEP GreyOrange
Here Honeywell Intelligrated IFM
Infor Inmar Keelvar
Kinaxis Korber Lean Solutions Group 2H
Liberty SBF Locus Robotics Logility
LogistiVIEW Lucas Systems MCA Connect
MPO Nvidia Old Dominion
OpenText ORTEC Overhaul
Parsyl PMMI QIMA
Redwood Logistics Ryder E-commerce by Whiplash Saddle Creek Logistics
Schneider Dedicated Setlog Holding AG Ship4WD
Shipwell Tecsys TGW Systems
Thomson Reuters Tive Trailer Bridge
Vecna Robotics Verity
Verusen
  • More From SCB
    • Featured Content
    • Video Library
    • Think Tank Blog
    • SupplyChainBrain Podcast
    • Whitepapers
    • On-Demand Webinars
    • Upcoming Webinars
  • Digital Offerings
    • Digital Issue
    • Subscribe
    • Manage Your Subscription
    • Newsletters
  • Resources
    • Events Calendar
    • SCB's Great Supply Chain Partners
    • Supplier Directory
    • Case Study Showcase
    • Supply Chain Innovation Awards
    • 100 Great Partners Form
  • SCB Corporate
    • Advertise on SCB.COM
    • About Us
    • Privacy Policy
    • Contact Us
    • Data Sharing Opt-Out

All content copyright ©2023 Keller International Publishing Corp All rights reserved. No reproduction, transmission or display is permitted without the written permissions of Keller International Publishing Corp

Design, CMS, Hosting & Web Development :: ePublishing