For years CPG brands invested a large portion of their budgets in trade promotion to reach and engage consumers primarily in the grocery space. But as growth in grocery revenue continues to slow, CPG brands are beginning to rethink how and where they can reach today’s shoppers.
2017 brought another year of change for retail, with the convenience store industry not only expanding their footprint, but also outpacing big-box retailers in revenue growth.
For this growth to continue, brand and c-store marketers must begin to think outside of their own channels in order to reach and engage new customers.
Each year as the Koupon team begins to write our State of the Industry report, we look back on the year prior and gather what we’ve learned, what our brands and retailers have accomplished, and what the data is telling us about the future of retail and the impact of mobile offers.
Mobile apps have emerged as the centerpiece of marketing strategies for many small format retailers, and for good reason – mobile apps have proven to be one of the best ways to engage valuable retail customers.
The retail industry has long been dominated by big-box giants. For years, big-box retailers – large-scale stores such as Walmart, Target and Office Depot – were untouchable competitors within the retail industry. In recent years, however, this growth has slowed and major retailers have downsized or closed their doors altogether. In the face of this slowed growth comes what some might call the end of the big-box era.