Anyone out There Still on Dry January, Veganuary or Heavens Forbid Both?!
Well, only a few more parsimonious days to go. Then you can rightly and justifiably feel very good about yourself. But as the February winds and chill blow in what about the future? Traditional account management and national account managers (NAM) will soon be going the way of the landline phone. The internal combustion engine. And red meat eating – extinct!
Future proof your careers, acquire, learn and develop the skills that will be needed in the brave new world unfolding around us. Be S.L.I.M.- Become Shopper Led Insight Managers.
The Days of Traditional Account Management Are Up
Big data and the ability to manage, interpret and act on big data is revolutionising every single facet of our lives. Just look at the (quite justified) scrutiny of the social media giants. Plus, the damage they are (allegedly) doing to our teens this very weekend.
Amazon, one of the world’s biggest manipulators of data, believe it or not, make more money out of storing and manipulating data. More than sending you your shopping through the post.
Staggeringly 90% of the world’s data is estimated to have been generated in the last two years (source: SINTEF). This was in 2013! UK Grocery retailing is in the vanguard of this move to Decision Automation with Tesco. Formidable Clubcard driven data miners Dunnhumby at the very, very front of the pack.
They know with your postcode and date of birth. But crucially with access to exactly what you eat through the contents of your shopping basket. It is often quipped that Tesco knows better than your GP when you are going to die! Be afraid, be very afraid. If you get to your fifty-something birthday and they stop sending you Clubcard Vouchers.
Tesco, Sainsbury’s, Morrisons, Waitrose, Boots – in fact, anyone with a shopper loyalty card or scheme are now well along the road to shaping their business. Business decisions based on insight derived from their shopper data.
Decision automation is starting to take over – Amazon buyers cannot access or change the algorithm that sets a products price. The hugely successful (for Tesco) range resets of the past 3 years are now automated to the point where the system tells the buyer his or her new range. Many pricing and promotional decisions are now becoming increasingly automated across UK grocery.
Is That the End of the NAM?
Well no! It will be the end of the traditional NAM role but the new world and it’s forward and future thinking players are quite literally screaming out for suppliers who understand their shoppers by being able to interpret and act on insights driven by big data to inform and make better business decisions.
Many of the very big-branded suppliers have had large, well-resourced category management or category development teams for years, which are now quickly morphing into shopper led insight teams. The big opportunity and prize are for those smaller branded players, own-brand suppliers and new startup hopefuls in grasping the shopper insight challenge and show their buyers that they not only get the brave new world but are taking active steps to embrace it.
MBM are experts in this brave new world of shopper led, insight-driven Category Management – call us, talk to us – our experts can help.
So, if you are looking for another new year resolution to replace your January vows. Be SLIM and don’t become a DO nothing Despite the Opportunity.