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With media budgets constantly shrinking, marketers continue to tirelessly chase an ROI on their media spend while countless leading brands battle for increased sales. And this in a world of constant evolution, never-ending product innovation, emerging new technologies that ultimately lead to rapidly changing consumer preferences and vice versa. Most of us are going at full speed just to make sure we don’t lose ground to the competition.
Every year expectations rise leading up to the holiday season with sales forecasts looking very promising. It is the time of the year where most retailers across Australia are expecting new product lines to come in and therefore stock up in preparation for the year’s busiest season. However, there are some retailers who still have piles of excess stock taking over their warehouses while waiting to be sold.
We are witnessing a global trend of constant evolution, product innovation, emerging new technologies in an effort to meet the demands of rapidly changing consumer preferences. With more options available to consumers, product upgrades in demand, and new product launches, there is even more pressure on sales performance around the world.
With regard to Active’s evolution, how do you see the company positioned for the future?
When the company was founded more than 30 years ago, companies primarily came to us to solve an immediate problem. Our business model provided a financial benefit that improved the bottom line for companies in virtually every industry. Over time, and based on proven results, our clients realized that we could do more for them than simply be a problem solver, that we could help them achieve more.
We live in a world where people are their own channels – defined and courted as influencers, controlling when, where, and how they’ll engage. Everything is connected, and consumers want a frictionless experience. For instance, one in three banking and insurance customers globally would consider switching their accounts from established banks to Google, Amazon, or Facebook if these Silicon Valley giants offered financial services. As consumers, millennials see the world in a whole different way, and the brands they trust aren’t the ones their parents trusted. There’s a new brand establishment happening.
Today’s marketplace is very complex. Technology has driven disruption in every industry. Whether you are an established brand, a retailer, a manufacturer, a technology company, a media company, a corporate trade company – no one is immune. Within organizations, technology has upended how companies do business – from supply chain to procurement to finance to media and marketing.
We refer to this as the “What’s Next Economy” and define this as the volatile, shape-shifting business environment fueled by accelerating change in technology and consumer behavior. It really expresses everything regarding today’s complexity in the marketplace.
Though it's only June, many retailers are beginning to plan for the upcoming holiday season. There is no doubt most retailers are bulking up their supply chain capabilities and fine-tuning their inventory planning to prepare for the busiest shopping season of the year in November and December, when roughly 30 percent of the industry's annual sales are on the line.
The volatile, shape-shifting business environment—fueled by accelerating change in technology and consumer behavior. As a result of this economy, boundaries are disappearing. Companies are no longer content, or able, to stay in their swim lanes.