OPINION
UNLOCKING POTENTIAL
Grant Hadwin, head of sales and supplier partnerships at Citrus-Lime, talks about dealer-supplier collaboration and how it could be the key to industry success
I
n today’s rapidly evolving retail landscape both retailers and brands face declining sales and shrinking margins. The solution lies in
collaboration. By working together, retailers and suppliers can create a more sustainable future.
The changing face of retail Retail has transformed significantly. Shoppers no longer simply walk into stores and make purchases. Today’s consumers are informed and expect convenience. They will only visit your store if they know the product they want is available and can be purchased in a manner that suits their lifestyle.
Here are three typical scenarios: In-Store Purchase: Customers might visit the store to see the product in person and make a purchase after chatting with knowledgeable staff. Click and Collect: Concerned about availability,
customers may reserve the product online to ensure it’s there when they arrive, making their trip worthwhile. Home Delivery: Busy customers may prefer to have their purchase delivered to their doorstep, requiring flexible delivery options. It’s essential to meet this varying consumer preferences
to remain competitive. This means showing all available products online, offering Click and Collect and providing flexible delivery services.
The challenge for independent retailers As someone who has been in the cycling industry for nearly 20 years, I’ve never met a business owner who has loads of
spare time to set products up online. But customers can’t buy what they can’t see. If an item isn’t available online it sends the message that it’s not available at all. This leads to declining sales – a challenge compounded by an already tough market.
The solution is collaboration Cloud POS makes it easier for dealers to work with brands by automating the bulk of the work for a huge number of integrated suppliers. It’s faster to get products in POS and set up online, which leads to more sales. Furthermore, retailers can choose to share their sales data and stock positions with brands, fostering a deeper, more integrated relationship. This creates various collaborative opportunities, such as:
Listing products on the brand’s e-commerce site for click-and-collect Participating in consignment stock programs Electronically placing purchase orders
Embrace change and collaborate The industry is consolidating, and it’s time to embrace change.
By sharing data and focusing on consumer needs, retailers and brands can build more sustainable businesses. Our solutions facilitate a collaborative environment, allowing retailers and brands to work together more effectively. Together, we can create a better future for the bike industry.
September 2024 | 49
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