Survey: Ascertaining customer preference, and delivering on that preference, top concerns for retailers
MIAMI — While out-of-stock items and inventory performance remain top of mind, retailers’ concerns about understanding customer preferences — along with their own ability to respond to those preferences with new ideas about pricing and promotions — have become top business challenges, according to a survey of 96 retailers published Wednesday by Retail Systems Research.
According to the survey, 34% of all respondents plan to optimize their assortments against new key customer segments in the coming year. Another 24% plan to include initial price optimization in their processes in 2013, and 22% will incorporate promotion optimization.
The report is part of RSR Research’s ongoing efforts to provide market intelligence on retail technology trends and can be downloaded here.
CDMA announces executive appointments
NOVI, Mich. — Chain Drug Marketing Association has named a VP finance and store brands, as well as a new director of business development.
John Devine, who will serve as VP finance and store brands, has been involved with projects and programs at CDMA for the past 15 years. In his new role, he will be responsible for increasing and enhancing the success of CDMA’s store brand program. Devine will report to CDMA president Jim Devine.
Annmarie Zaremba, who will serve as director of business development, will be responsible for the development and growth of CDMA’s supplier, retailer and wholesale membership by working with CDMA VP sales Judy Aspinall and the organization’s category managers. Zaremba also plans locate, define and secure business relationships, CDMA said.
FDA approves generic cardiovascular drug
MORRISTOWN, N.J. — The Food and Drug Administration has approved a generic drug for treating blood pressure and chest pain.
Actavis announced Wednesday the approval of diltiazem hydrochloride extended-release capsules.
The drug is a generic version of Valeant’s Tiazac. The branded drug and its generic equivalents had sales of about $76.3 million in 2011, according to IMS Health.