At The Whiteboard: The Importance of Continual Optimization on the Digital Shelf
Peter Crosby | August 6, 2018
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Speed is everything on the digital shelf. With private labels from Amazon and digital upstarts launching daily with faster time-to-market strategies, traditional brands are losing market share they once easily captured. Brands deeming this an operational efficiency challenge, rather than the new reality of commerce will continue to see market share shrink as reducing time-to-market often means neglecting the change of consumers and retailer requirements.
Consumers demand better product experiences on the digital shelf and retailers have honed in on this with their constantly changing requirements. For example, Amazon titles recently increased to 140 characters and for their private label products optimization happens immediately and constantly whenever a new requirement is added. Winning in revenue does not mean you are winning market share across the digital shelf.
Leading CPG companies are down an average of 13 share points in ecommerce over the past year. Brand that have traditionally dominated brick & mortar are not seeing their market share translating online and it is only getting more challenging to win it back. The digital battle for market share isn’t fair: the winners keep winning and losers keep losing making it hard to win back market share.
So who is winning? Brands that look at operational efficiency not as a singular effort, but an opportunity to continually optimize their digital shelf. For example, ShurTech, the Makers of Duck Tape®, saw a 15% sales rank improvement in 4 months on Amazon by adopting this strategy.
Watch our latest whiteboard session with Rob Gonzalez to learn why change needs to happen now to win back market share and grow your brand with continual optimization.