There’s no denying that retail has evolved over the past few years. With news articles coming out about the “retail apocalypse” – the demise of physical retail and the dominance of a few large online retailers – there’s been a lot of concern (and confusion) over the future of retail and what this means for retailers. But, how are brands adapting to these changes? What part are they playing in retail’s evolution?
To get to the bottom of the major shifts we’re seeing, NuORDER commissioned Regina Corso Consulting to conduct a survey of brands that sell wholesale to retailers to see how they view the transformation of retail. We wanted to hear from the brands that rely on retailers for distribution to learn how they are responding to these changes and how they’re planning to grow their businesses in 2018 and beyond.
This survey is among 401 U.S. respondents who work at branded manufacturers that sell through wholesale. They have a title of at least manager, who work in either sales/wholesale, marketing/merchandising, IT or operations and who work in one of the following industries: fashion and apparel, footwear, accessories, children’s goods and/or toys, outdoor equipment/wear, sports equipment/wear, home goods or food and beverage.
We asked 13 questions throughout the survey, which lead us to meaningful conclusions and recommendations for both brands and retailers. Some key highlights include:
- Physical retail is not dead, it’s just changing. While big box stores are closing, brands are not planning on abandoning their offline sales and moving entirely online. They are, however, adjusting their sales strategy to accommodate this shift.
- Retail is changing to benefit brands, which means brands are more involved in the success of their retailers. Brands are recognizing this shift in power, and are discovering new ways to help their retail partners sell more inventory.
- Technology is more powerful than ever, and brands are planning to increase spend on ordering tools, mobile and digital catalogs in 2018.
To learn more about our survey findings and how this retail transformation is affecting brands and retailers, click here.