Today we live in the world of the connected shopper. The recent acceleration of e-commerce has left the retail industry shaken and we cannot continue to meander along the path of yesterday’s marketers.
These changes have driven the need for more retailer and supplier collaboration in digital and e-commerce.
Our E-commerce Fundamentals For Category Management course is just the tool for encouraging this collaboration.
It also provides a high-level overview of how the e-commerce channel has shifted the approach of Category Management.
The course makes use of the 5D Process, which is shopper-centric and sets the stage for joint business planning.
The 5D process ensures that you achieve better collaboration and achieve accelerated, profitable e-commerce growth:
The starting point is to set the foundation for the supplier and retailer’s relationship. This step is known as the definition and establishes the focus of their collaboration.
The second “D” of the process is to ensure a complete understanding of the shopper. This is done through e-commerce insights, targeting the shopper and consumer as well as mapping their journey.
A clear understanding of the shopper experience helps the team understand which categories and solutions to focus on.
Next, suppliers and retailers need to create strategies and tactics that strive towards profitable growth in their category. Generally, there are three components that make up the strategies: Demand generation, demand capture and demand fulfilment.
Once the collaborators have designed their strategy, the tactics can be created.
Now we bring it all to life! The fourth “D,” is about planning the strategies and how these tactics take place. Key performance indicators need to be identified. The mechanics of how the all-important behaviour can be changed will also need to be outlined. The supplier and retailer will need to ensure they are aligned before they take their plans to market.
Finally, the plan is delivered to the marketplace. The strategies and tactics are activated by the suppliers and retailers who should also ensure that measurement takes place throughout the process. The results will inform the teams if and when the strategies need to be reviewed and refined.
Learn more about this course here or purchase it here.
Source: Ecommerce Category Leadership whitepaper Category Management Association and The Partnering Group