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The increasingly complex global supply chain has made food scares a common occurrence, with 63 food alerts issued by the FSA in 2015 alone. Food recalls are also on the rise: according to recent research, the number of recalls per year in the US has almost doubled since 2002. Unless handled effectively, product recalls can have potentially damaging consequences, such as loss of consumer trust and damaging the image of the retail industry as a whole.
In recent years we have seen corporate social responsibility (CSR) evolve from an abstract line item on mission statements to become a real point of consideration for consumers. Retailers have seen it can even have an impact on the bottom line: a recent report found that a company with a reputation as a sustainability leader can expect 20% increase in revenue and customers are willing to pay a 20% premium for its products. Corporate social responsibility needs to extend across the global supply chain to eliminate problems, but with the right processes retailers and manufacturers can wage the war with better weapons at their disposal and preserve consumer trust.
Consumers are becoming increasingly savvy about the products they buy and consume. The demand for information on those products is driven by a need to trust the brands they buy. Transparency throughout the supply chain is essential to cater to these global demands.
Valentine’s Day is coming up and has traditionally been a fairly lucrative opportunity for retailers. The theme of romance at this time of year means seasonal promotions, sophisticated private label ready meals and bigger orders for chocolates and flowers will all be a hit with customers. However, looking beyond Valentine’s, on February 19th it is Chinese New Year. Retailers have a real opportunity to take a fresh look at this holiday and engage with the modern, savvy shopper.
The last year has presented a number of challenges and complexities on the fluctuating private label market; for example, a growing focus on regulatory compliance, and the search to foster greater consumer trust. One of the key dilemmas in 2014 was how to encourage customer loyalty while meeting new demands, tastes and higher expectations of service. In response Trace One has led a number of exclusive Private Label Clubs across Europe. Partnering with the British Retail Consortium in the UK, these clubs bring together key decision-makers from leading retailers. Attendees have used the opportunity to network and engage in discussion on key trends in private label led by guest speakers such as Coop Switzerland’s Head of Marketing. While there were many interesting discussions, some of the main areas of interest highlighted so far include:
The skies are beginning to clear and the sun is starting to shine. It can only mean one thing – summer is on its way. Eagerly anticipating the warm summer months, people up and down the nation have been busy working on their beach bodies, hitting the gym and starting diets to shed their winter pounds.
The British Retail Consortium’s Retail Symposium is taking place 26th June and will bring together some of the foremost names in UK retail to discuss the key challenges facing retailers, both right now and on the horizon.
Recent Government figures showed that UK households spent £112bn on food and drink in 2013. You would expect any loss of consumer trust that threatens this expenditure, such as the horsemeat crisis, to result in immediate action to regain that trust. However, independent research shows that 63% of consumers still say their trust has been damaged in the wake of food scares such as the horsemeat crisis; meaning any action still isn’t reaching the majority of the population. The old adage still rings true: trust is a hard thing to gain, and a very easy thing to lose. The onus is now on the food industry to regain this trust or miss out on the custom of increasingly savvy shoppers, who are more aware than ever of just what goes into their food.
Consumers are now aware of a whole range of issues on food products that they consume, and one of the biggest of these is Fair Trade. From the launch of the industry’s first Fair Trade product, Green & Black’s Maya Gold Chocolate back in 1994 through to recent endorsement by celebrities such as Chris Martin from Coldplay, Fair Trade is now established at the front of consumer awareness and demand.
With the Easter holidays coming up, planning meals and stocking up on food presents a new challenge – balancing the need for healthy, nutritious meals, without draining too much time or disrupting holiday plans. The Easter holidays can come round somewhat abruptly and rock the boat for parents reliant on the routine of the school year. However, while planning for the break can be stressful, retailers can play their part by lending a helping hand to parents around the country.
Last year, Halloween delivered £325m in sales in the UK and $6.9 billion in sales in the US – retailers and suppliers will be keen to exploit the period’s growing potential this month. There are a number of important steps that retailers and manufacturers can take during Halloween to innovate in private label products, engage with consumers, and make the most of this multi-million pound opportunity.
Consumers are now demanding more information than ever. The growth of the internet and the spread of mobile devices mean that information on almost any subject is at our fingertips. This is revolutionising the way that people work, play and shop. we are entering an “Age of Disruption,” where retailers that deliver a customised experience to consumers across all devices will be the most successful.
The last week of June saw the arrival of The Consumer Goods Forum Global Summit in New York, where Trace One was in attendance along with some of the biggest names in the food and drink industry. One of the main themes discussed was the importance of consumer trust within the industry, and why retailers...