Access the POI 2020 TPx Vendor Panorama Today!
Wykoff, New Jersey August 24, 2020: The Promotion Optimization Institute (POI), the leading resource for trade marketing and merchandising executives, today released its 2020 POI TPx Vendor Panorama , and found that 87% of consumer packaged goods (CPG) companies surveyed reported that they are struggling with modern trade. The 2020 POI TPx Vendor Panorama also found that many of the vendors in the panorama are starting to create the necessary linkages between digital and traditional promotions. “Even in the face of COVID-19 and the consumer products industry paradigm shift that is taking place, Trade Promotion and Revenue Growth Management is more relevant today than ever before,” said Pam Brown, Chief Commercial Officer of the POI. “COVID has dramatically accelerated the move to eCommerce and the majority of CPG companies are struggling with online trade promotion. While much work needs to be done, many POI members and the vendors are rising to the challenge”. The POI analyzed 21 vendors across 15 functional areas (including AI, Data, and Advanced Analytics) that are helping retailers and consumer goods executives manage trade promotions effectively.
The 2020 POI Trade Promotion best-in-class (by functional area) vendors include: Accenture, Acumen, Blacksmith Applications, Cornerstone Capabilities, Data Ventures, Deloitte, Eversight, Exceedra, Kantar, Periscope by McKinsey, PwC Strategy&, SAP,TABS Analytics, UpClear, Visualfabriq, and Wipro. Example of Key Strategic Insights from the POI TPx Vendor Panorama
- The majority of retailers and manufacturers are not focusing their enterprise TPx planning on the consumer but are instead clinging to processes, and systems that are still internally focused and based on old paradigms.
- Due to COVID-19 data implications and seismic shifts in the economy and behavior,teams need to evaluate for model drift and then re-calibrate the models.
- Evaluate the holistic enterprise for cost efficiency, as the global environment and organizational dynamics have changed.
IT teams need to re-evaluate IT project portfolios and technology spending by focusing on digital, analytics visibility, optimized planning, forecasts, and supply chain. A breakdown of all of POI’s recommendations are in the 2020 POI TPx Vendor PanoramaVendor Evaluation for POI TPx Best-In-ClassIn the 2020 POI TPx Vendor Panorama, solutions from 21 vendors were evaluated, including additional “localized” solutions that focus on specific geographic areas such as Europe or North America. The following 19 capabilities were analyzed and compared: company viability, geographic strategy, market responsiveness and track record, deployment capabilities, market understanding, vertical/industry strategy, partner leverage, company vision, product aptness and flexibility, delivery flexibility, TPM functionality, TPO completeness, user experience, analytical capabilities, product vision, configurability, and Revenue Growth Management. “This is the most comprehensive and essential research and analysis we’ve done at the Promotion Optimization Institute (POI) since our inception nearly 12 years ago,”said Michael Kantor, CEO and Founder, POI. “The POI is delivering more capabilities, insights and connecting live plus virtually with increasing numbers of consumer goods executives around the globe. We are proud to lead by example and are impressed with how the Solutions Providers are driving advancement for sales, marketing, and merchandising executives at leading brands and banners in challenging times.”
Join POI as a member (see detailed values here https://bit.ly/POImembershipValues)
to have access to the full report. POI has a fall membership drive and special offer (Over $5K value) Reach out to Joanie Hampton-Malin firstname.lastname@example.org for more information and to register your organization. Individual and team memberships are available. Become a POI Member, or renew your membership today!
Promotion Optimization Institute Releases POI 2020 TPx Vendor Panorama, and Names Best-in-Class Across Capabilities
“Even in the face of COVID-19 and the consumer products industry paradigm shift that is taking place, Trade Promotion and Revenue Growth Management is more relevant today than ever before,” said Pam Brown, Chief Commercial Officer of the POI. “COVID has dramatically accelerated the move to eCommerce and the majority of CPG companies are struggling with online trade promotion. While much work needs to be done, many POI members and the vendors are rising to the challenge”. Learn more
General Mills: Altering Marketing PlansSource: (The Drum August 17, 2020)
The way Brad Hiranaga, General Mills North America chief brand officer, sees it: “by solving problems and delivering joy, [General Mills] can create loyalty and better resonance” with its current customers. “And because we’re doing more for them, we start to attract new people to our brands and categories, it creates a totally different marketing plan.” Learn more
Join us for this Complemenraty Webinar on September 10th, 11 AM EDT
Diageo Taps Celebrity PartnershipSource: (Food Dive August 17, 2020) The addition of Aviation American Gin follows a similar playbook for Diageo in that the brand is growing quickly….The fact that he (Ryan Reynolds) is retaining some ownership following the deal is a positive for Diageo, which could continue to use his popularity to further market the brand in the United States. Diageo said Aviation American Gin grew volumes at over 100% in 2019, adding the highest number of cases and contributing 40% of super premium gin segment growth in the U.S. Learn more
Registration is Open for the POI Global Virtual Summit, September 22, 2020 – All Day!
Join Already registered: All POI Members and CPG Companies registered for Chicago and Dallas: P&G, Schreiber Foods, General Mills, PepsiCo,General Mills, Unilever, Kimberly-Clark, Dart Container, McKee Foods, Campbell’s Soup, Colgate Palmolive,Conagra, Grupo Bimbo, Deloleo, Duracell, Keurig Dr Pepper, Kimberly Clark, Nestle Coffee Partners, Hostess Brands, Hormel, Johnsonville, Nestle, Mars, Kraft Heinz, Mondelez, Kellogg, Mondelez, Simply Good Foods , Perrigo, Coca-Cola, KIND Snacks, Apex Global, Mattel, Perfetti Van Melle, Mrs. T’s Pierogies, Iris Nova, Hershey, Henkel, Reynolds Consumer Products, Kao, Barilla, Land O’ Lakes, SC Johnson, Morton Salt, Eagle Foods, Walgreen’s, Dollar General, P&G, Interstate Batteries, Rich Products, Talking Rain, Ocean Spray, Riverside Naturals, AAFES, Palermo’s Pizza, Gortons, Clorox, Bel Brands, JM Smucker, Church & Dwight, Hometown Foods, Constellation Brands, J&J, Musco Family Olive, American Tire Distributors, Richardson International, and more.
Clorox Partners with InfluencersSource: (Mktg Dive August 17, 2020) Clorox began building an influencer advisory council back in January with hundreds of influencers, a move to help the brand understand what kinds of content will resonate with influencers and their audiences, according to Digiday. This approach to collaborative content creation is apparent in the latest campaign with The Try Guys. Clorox’s approach to influencer content is to place the product within a “demo-tainment” environment to appear more authentic to the creators’ mission and let viewers get a better sense for the product. Learn more
Register today for this complementary webinar Digital Transformation – A Conversation with Clif Bar
E.l.f. Cosmetics Sees Success with PersonalizationSource: (Dig Commerce 360 August 19, 2020)
Ekta Chopra, VP of digital says “Our thought was skin care is a very personal category, and you really don’t change it up much. Plus, we were seeing a lot of growth in that segment, so the question became, ‘How do we use this as a lever to connect with our consumers and create longer-term relationships with them?’ That can only come once you know more about each individual person. The brand has been stunned by the “crazy success” of the feature. Learn more
Walmart Sees Online Sales DoubleSource: (Groc Dive August 18, 2020) The nearly 100% growth in online sales, which also saw increased margin rates, come after a refocusing around Walmart’s flagship e-commerce site. Sam’s Club sales also spiked, with comps up 13.3% and e-commerce sales growing 39%. New memberships at Sam’s increased more than 60% in Q2. Learn more
In case you missed this webinar: POI members can access the recording on-demand now. Answers, approach, and action related to the pandemic, and impact on trade planning, promotions, and Revenue Management.
How U.S. Manufacturers Are Handling the Ripple Effect of COVID-19Source: (Food Processing News August 20, 2020) The COVID-19 pandemic has impacted businesses around the world by disrupting supply chains, impacting cash flow and accelerating the pace of digital transformation. However, instead of dwelling on the negative aspects of the situation, it’s time to plan for the future. Companies need to develop a strategic comeback plan to guide them on the path of growth. Here are some recommendations to put businesses in the best future position. Learn more
Target Hits Sales Record on Online SurgeSource: (Reuters August 19, 2020) CEO Brian Cornell told reporters “The biggest change we saw from Q1 to Q2 … was the exceptional growth we saw in in-store shopping in an environment where many Americans were turning to digital to fulfill their needs”. Comparable digital sales surged 195%, driven largely by the success of Target’s same-day services, such as in-store pick up, Drive up and Shipt, which grew 273% in the quarter.Learn more
Pepsi Tweaks Strategy as Sports Marketing Shifts FocusSource: (Mktg Dive August 18, 2020) Despite disruptions stemming from the health crisis, Pepsi hasn’t altered its spending around sports marketing, but rather tweaked its strategy to better account for pandemic-driven changes, per Todd Kaplan, VP of marketing at Pepsi, That means less of a focus on in-stadium activations like jumbotrons and T-shirt cannons and more of a focus on the home, which has quickly moved to the center of parent company PepsiCo’s business strategy as the marketer invests in direct-to-consumer offerings, including two new e-commerce sites. Learn more