The new reality of B2B Retail: Opportunity or problem?
Posted: Mon Dec 09, 2024 6:40 am
Normally, whenever we think of retail, we think of B2C, food, fashion, etc., but retail is a fundamental distribution channel (and feedback channel, I would say) for both B2B and B2C. Let us think, for example, of B2B retail for IT support companies, industrial spare parts and hardware stores, or of retail for construction companies that sell to independent professionals or industrialists.
The pandemic has revolutionized this jordan phone number resource important sector and has significantly accelerated the consumption habits and decision-making processes of both private and professional consumers. This has very serious implications in the industrial world that we can see as an opportunity or as a problem. I am going to tell you how to turn this new reality of B2B retail into an opportunity.
Let's start with the consumer and based on a study by McKingsley (Retail reimagined: The new era for customer experience.) there are two very clear conclusions that are here "to stay."
The first is that the consumer, in 90 days, has acquired the habits of the next 10 years and the second is that 40% of consumers (in this case, final consumers) have changed or tried new providers in these months, so that “loyalty” or “fidelity” is faltering in these times and in the coming years. Undoubtedly, all of this has its main driver in the new digital habits.
As a manufacturer or B2B and industrial service provider, we cannot remain passive in the face of this. Why?
1/ The supply chain is increasingly working in a more intertwined way to respond to changes. Staying out of retail means staying out of the market and the possibility of understanding these changes sooner.
2/ Major brands have a great opportunity to provide added value through services or focus to their retail partners or channel partners.
3/ It is a great opportunity or risk to attract new customers or lose mine at this time when brand loyalty is no longer blind and the consumer is willing to reformulate their habits and decision-making processes by trying new brands.
I believe that a major brand that currently does not want to be a simple product provider but rather “something more” has a great opportunity to demonstrate its value through its leadership, communication and empathy capacity by promoting these changes in its Industrial or B2B retail channel. Due to its capacity, vision and “customer expectations”, I believe it is important to participate in this adaptation process.
The pandemic has revolutionized this jordan phone number resource important sector and has significantly accelerated the consumption habits and decision-making processes of both private and professional consumers. This has very serious implications in the industrial world that we can see as an opportunity or as a problem. I am going to tell you how to turn this new reality of B2B retail into an opportunity.
Let's start with the consumer and based on a study by McKingsley (Retail reimagined: The new era for customer experience.) there are two very clear conclusions that are here "to stay."
The first is that the consumer, in 90 days, has acquired the habits of the next 10 years and the second is that 40% of consumers (in this case, final consumers) have changed or tried new providers in these months, so that “loyalty” or “fidelity” is faltering in these times and in the coming years. Undoubtedly, all of this has its main driver in the new digital habits.
As a manufacturer or B2B and industrial service provider, we cannot remain passive in the face of this. Why?
1/ The supply chain is increasingly working in a more intertwined way to respond to changes. Staying out of retail means staying out of the market and the possibility of understanding these changes sooner.
2/ Major brands have a great opportunity to provide added value through services or focus to their retail partners or channel partners.
3/ It is a great opportunity or risk to attract new customers or lose mine at this time when brand loyalty is no longer blind and the consumer is willing to reformulate their habits and decision-making processes by trying new brands.
I believe that a major brand that currently does not want to be a simple product provider but rather “something more” has a great opportunity to demonstrate its value through its leadership, communication and empathy capacity by promoting these changes in its Industrial or B2B retail channel. Due to its capacity, vision and “customer expectations”, I believe it is important to participate in this adaptation process.