What everyone was getting wrong at Shoptalk Europe
We've been on the floor at Shoptalk Europe this week, and here’s what we’ve noticed. Too many vendors here expected retailers to care about their solution.
Truth is, nobody cares unless vendors, including us, do one important thing. One thing I saw very little of.
In these challenging times, we vendors must be outcome-focused. We must constantly answer the question - what does our solution do for our customers? And that answer can’t be in vague, broad terms but specifically an answer for each retailer we talk to. An answer for M&S, a different answer for Ahold Delhaize, another for Saturn. What specifically, with worked cases, can we do for this retailer? Targeted and relevant solutions are what the retailers at Shoptalk wanted and they didn't get enough of them.
Rough seas need a better compass
Every retailer and brand we've spoken to at Shoptalk Europe has been optimistic, that's been a big story; there is bravery and a readiness to continue to invest and to keep on with transformation and change.
In every meeting we’ve had we've been clear that this combo of tougher times and continued investment calls for doubling down on the tools that get you somewhere profitable; tools that actually deliver stronger trading performance, as well as long-term directional guidance.
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The Uncrowd Relative Attractiveness Platform does this in two ways. Firstly, it identifies the quick wins, the ‘now’ opportunities to take more money off the table.
Secondly, it reveals where best to put those transformation investments. Ours is a tool that ensures a retailer or brand's next investment is also their next best action.
We've talked constantly this week about how with challenges around consumer spend and supply chain cost beginning to bite, these rough seas cannot be navigated by relying on inward-looking feedback-based CX measurement.
A better compass is one that shows the user where the dry land is, where the opportunities and safe harbours are.
If your product also does that you're 50% of the way there, the missing piece is to get tailoring and crafting specific retailer-by-retailer cases. Make prospects care by showing that you do.
Global Chief Growth Officer & GTM Leader | Founder and General Manager | Board Advisor | Coach and Mentor
1yI enjoyed this piece Richard, shame we didn't meet at Shoptalk. But successful companies have always been outcome focused whatever the macro economics. Listening, understanding, and, where necessary, challenging customer perspectives and points of view should be first principle for any team.
Partner, Commerce Strategy 🛒 // Retail Media & Monetisation, DTC, Digital Trading, Data Strategy, AI, UGC, UX, CRO, Social Commerce
2yGreat post Richard, I spotted you walking ShopTalk but didn't get a chance to say hello as a fan of your content. Spot on re: limited outcome-based discussion. Absolutely an enormous opportunity next year to really hone in on the customer too and live up to the customer-centricity claims we heard a lot about.
I build good stuff with humans.
2yThis is a master class in how to prepare for a trade show. Just turning up with a flashy stand and a new product isn't enough. Identify your target, potential customers and do the hard work, prior to the show to prove to them why they need your product. Thanks for sharing your insights and knowledge once again Richard, it's gold.
RETHINK Retail Top Retail Expert. RetailWire BrainTrust Panelist. Founding Partner - Merchandising Metrics. Consulting on Strategic Merchandising. How to embrace RISK as a brands' best friend. It's a differentiator.
2yCustomers want personalized solutions. And that's exactly what companies need. Solutions that are personalized for their opportunities for their products for their customers in their niche of the market.
JD Group Customer Operations at JD Sports Fashion plc
2ygreat read Richard. wish i could have made it to london for it