Retail prices continue to remain stubbornly higher, there's even talk by the UK Government about retailers introducing price caps - crazy stuff eh!
By the time any item/product has been bought via a retail outlet on/offline it has gone through many layers of cost to arrive in your wardrobe or kitchen cupboard.
For example; Would you buy a Mattress direct from the manufacturer rather than going to the retailer?
Historically the supply chain has been made up of several layers, all in order to get you and me to part with our cash but today that funnel is getting shorter.
Which could be great news for you and me (the customer) as it should reduce prices.
But is it disruptive to those retail companies and businesses that have set themselves up as a reseller of someone else's product.
Supermarkets are a great example of a company who sells other companies brands, all manner of companies do this everyday, all around the world, and as the cost of living crisis shows no sign of easing anytime soon is this one way that manufacturers can drive down cost and inflation?
With the huge growth of online digitally savvy, and socially connected people innovative brands are now looking to get themselves in front of you and me in anticipation we can deal with them direct.
So here's an innovative idea for those still locked in the traditional supply chain mindset, how about investing in nurturing your potential customers via social media, joining in and creating stories and content that your prospects might actually find valuable?
Instead of using your social platforms to broadcast, try to use them to join conversations that are already happening. Listen to what your audience is already discussing, read what influencers are writing -then pitch your content to respond to these cues.
The upside is you will learn more, and reduce your cost, and maybe, just maybe you might look to reduce your 'paid' intrusive advertising campaigns that's pissing everyone off.
unknownx500
