The retail industry is falling – fast and hard. In November, the 125-year-old Sears filed for bankruptcy; a sad turn for what was once the world’s largest retailer. The public has also come to expect a similar outcome for stores such as Macy’s, Sears, Toys ‘R’ Us, Kmart, Kohl’s, J.C. Penny and Barnes & Noble.
What does this all mean? A recent report by the consultancy BCG documented a general decline in sales among consumer packaged good (CPG) companies in the United States during 2017. Mid-sized and large companies are losing market share – and small companies are increasing theirs.
Shoppers today are making most of their purchases online. Thus, they’re making fewer trips to stores and seeing fewer in-store promotions. Consider the trendy razor club, Harry’s. Harry’s attracts more Instagram followers and product subscriptions through its website than a fully stocked Gillette aisle in a supermarket could ever hope … Read More