GMDC partners with RetailNet Group on analytics solution
PHOENIX — On Saturday GMDC hosted a Business Session explaining why strategic partnerships that shape how a retailer meets a particular consumer need, such as the diabetes set co-created between Johnson & Johnson and Wakefern, are so important. It creates an in-store experience that drives traffic and consumer loyalty, while delivering incremental sales to the top line.
On Sunday GMDC provided the how.
During Sunday’s Business Session here at GMDC Health Beauty Wellness 2015, GMDC announced an investment the association has made on behalf of its members, subsidizing the cost of a crucial analytics tool provided through RetailNet Group that sets the stage for the kind of collaborative conversations that J&J and Wakefern presented.
“GMDC is subsidizing for all of our members an opportunity to acquire these really profound and compelling insights at a fraction of the typical price you would pay for an RNG subscription,” noted Patrick Spear, GMDC president and CEO. “Simply put, we value it enough that we’re investing on your behalf. This data enables the opportunity to create a comprehensive deep-dive in support of customer meetings.”
The new GMDC/RNG Insights Portal provides GMDC members three perspectives that will enhance conversations between suppliers and their retail partners. “This is just a really useful framework to help organize the thinking around: Where are the changes happening in retail? What are the major drivers outside of my business that I have to consider as I walk in and have to build plans?” Michael Rogosa, director client services at RNG, said. “The first step is understanding what’s going on with their business and does your product help them tell a better story?”
Those three perspectives include:
- Retailer planning and competitor analysis. Members can align with trends impacting retailers and their strategic initiatives, and forecast growth — sales, stores, comps.
- Initiative/trend exploration, which explains the trend, impact on shoppers and what retailers are doing to respond.
- Market planning and opportunity analysis. Members can use this tool to understand the biggest trends happening and identify where to align assets — winning channels and retailers.
“That’s really what our Insights Portal is designed to do,” Rogosa said. “It is to help both brands and retailers, and wholesalers as well, understand where the growth is coming from. How do I better partner? Where should I align my assets? And then what are those major drivers, major capabilities, that I need to invest in?”
RNG’s Insights Panel reaches beyond both the U.S. and Canadian retail theaters and into 180 countries worldwide, Rogosa said, and not only provides insights into categories across the entire front-end, but also across the entire spectrum of retail channels. “That includes the largest collection and information set about digital e-commerce as well,” Rogosa added.
All told, RNG’s full offering includes a full bank of photos of retail prototypes across the world delineated by geographic location, retail channel, product category and merchandising trend. Also there are in-depth profiles of each retailer that provides a snapshot into what’s driving their business and where they’re headed strategically. And there is category data that can feed analysis on the front-end trends impacting retail.
“Data is power. More information is better than less,” Spear added. “If you’re a first-time attendee here and you want to punch above your weight class, there’s probably an opportunity within the Insights Portal. If you’re managing a global brand, but you’re not getting the actionable insights you need to help you prepare for your meetings around the world or whatever country you’re operating in, perhaps this is the way to do it.”
Spear closed with a no-risk offer for attendees of GMDC HBW 2015 — a password to access the RNG site that will be good through Friday. “If you want to tour around the site [and] use it for the next couple of days, we can get it done for you at no cost or risk. We believe in it that strongly.”
GMDC celebrates 45-year anniversary
COLORADO SPRINGS, Colo. — The Global Market Development Center this year is celebrating its 45-year anniversary with a retrospective look at the top retail innovations, as well as the association’s own industry-changing moves since the 1970s.
“We are proud to celebrate our 45th anniversary as a testament to past successes, as well as a launchpad for future strategies that will continue to reimagine and revolutionize the retail industry,” stated Patrick Spear, president and CEO of GMDC. “Early on, GMDC emerged as the go-to association for all stakeholders who not only wanted to navigate the industry, but also set innovative trends. We continue to grow and transform through the dedication of our membership and their visionary leaders in the retail, wholesale, supplier and service/solution company landscape.”
A lot has changed in the past 45 years, but what hasn’t changed at GMDC is the spirit of collaboration. “That hasn’t changed,” Spear told Drug Store News. “There’s been over the years so much channel blurring, and we’ll continue to see more of that as retail is disrupted and consumer buying habits change, but what hasn’t changed within our membership is the desire for a connection, the desire to collaborate, the desire to create optimal ideas and solutions.”
According to Spear, the transformative GMDC milestones that most standout over the past 45 years include the development and evolution of the association’s “speed-dating” CCC meetings, a business meeting concept that originated with GMDC. “We were the originators of the speed-dating format at conferences, enabling buyers and sellers to come together in a very efficient manner and collaborate on opportunities in the marketplace,” Spear said.
Other milestones that helped shape GMDC today are the expansion of association membership beyond buyers and sellers to service companies and the more recent insights offering of the GMDC/Nielsen GM Hierarchy. “Before we worked with Nielsen to set that up, there wasn’t objective data across the GM landscape that our members could use to make business decisions,” Spear said. “Working and partnering with Nielsen to make that happen enabled our members to get a much better view into the GM category in retail and plan their business better because of it.”
Just before GMDC’s Health Beauty Wellness 2015 meeting, Spear distilled GMDC’s 45 years into four words that not only capture the spirit of the association’s heritage, but also herald the promise of GMDC to come. “I think the 45-year anniversary has given us an opportunity to think about that, and what I think about is our four c’s — connect, collaborate, create, commerce,” he said.
From the introduction of the first supermarkets to today’s mecca of digitized retail, GMDC fosters growth in both the businesses of health, beauty and wellness, as well as general merchandise, through those “four c’s.”
Timeline of the association:
1970s — Stores began using barcodes as chain stores dominated the marketplace. The association that would become GMDC is established as a connective trade association, hosting its first marketing conference for members, such as Carlie C’s and Merchants Distributors. The association introduces corporate “speed dating” at conferences to maximize member connections.
1980s — Big box and discount retailers, including Walmart and Costco, reface the customer experience with stores that cross categories. Ahold USA joins GMDC as the association admits direct-buying supermarket chains to membership.
1990s — The marketplace goes digital with the launch of Amazon.com. GMDC opens membership to service merchandisers, non-direct-buying supermarket chains, club stores and later admits all mass market wholesale and retail channels to membership.
2000s — Computer and technology stores plug into the market, and Toys R Us unveils its store-in-store concept. The association rebrands itself as the Global Market Development Center, while the Health and Beauty Care Marketing Conference is rebranded to the Health Beauty Wellness Marketing Conference to capture the emerging health and wellness consumer opportunity.
2010s — Smartphones and tablets mobilize the marketplace, equipping retailers, wholesalers and service companies by expediting commerce processes. Brick-and-mortar stores incorporate mobile technologies with apps offering digital coupons, digital wallets and in-store mobile push marketing. GMDC digitizes many facets of member communication and introduces GMDC*Connect, a virtual meeting tool offering live and recorded knowledge-sharing infocasts, and launches a mobile app for its conferences. The association also releases the GMDC/Nielsen GM Hierarchy, a tool for tracking critical sales information by category within general merchandise.
2020s — Industry research predicts physical store sizes will shrink, as up to 20% of retail purchases shift online. The growth of shoppers managing their own health care will increase demand for space in over-the-counter, health and wellness, and healthy food options. GMDC continues to be an industry trendsetter, offering innovative tools and actionable insights to its growing membership and helping to maintain leadership positions across respective businesses.