Adapting Your Category Management Capabilities for the Digital Shelf
Learn How to Compete in a Transformed Retail Landscape
In an increasingly omnichannel world, brands and manufacturers need to rethink their approach to category management for the online channel. Not only do online sales continue to increase year-over-year, the influence of the online channel has serious repercussions for offline sales as well. Brands that succeed with category management on the digital shelf will put themselves in the position to win omnichannel as well.
Addressing critical issues such as online out-of-stock management and product availability, as well as winning on keyword searches and menu placement will allow you to win the digital shelf and increase your overall influence in the market. With online retailing, there is no planned and stacked shelf to draw in shoppers. Market leadership is no longer dictated and perpetuated by the amount of shelf space a brand consumes or where it is positioned on the shelf, but by how brands adapt to manage the new environment. Additionally, product content takes on increased importance on the digital shelf. With no physical product to hold, and no packs to touch, feel and read, shoppers have to fill in the gaps with the available information. Online product content helps shoppers to bridge that gap between the online presentation of a product and the real-life experience of it.
Keeping track of category management key performance indicators (KPIs) such as portfolio and product availability, search rank, product content accuracy, price adherence, and the strength of your online ratings and reviews can help guide your strategy and uncover opportunities for improvement.