Consumers are behaving weirdly. Retailers are responding.

In this special bonus episode, our hosts, Joel Beal and Logan Ensign, dive deep into the latest earnings reports and economic trends. Joel, a recovering economist, brings his expertise to decode the complex relationship between consumer spending, inflation, and market reactions. Discover why higher-income consumers are still splurging, the hidden dynamics of retail pricing and shrinkflation, and which retail sectors are poised to thrive.

If you're keen to understand the economic forces shaping the retail landscape, this episode is a must-listen. Join us for an enlightening conversation that sheds light on what to expect in the second half of the year.

In this episode, you’ll learn about:

• Understanding consumer spending patterns and market reactions can help you navigate these uncertain times and spot opportunities ahead of the curve
• Expect negotiations with suppliers to become tougher, with many retailers pushing for lower prices
• Don’t underestimate the power of private-label products - they offer a way to provide cost-effective consumer options while maintaining control over pricing

Jump into the conversation:

00:00 People are waiting for economic downturn after a long period of prosperity
05:49 Economic data affects markets, rate cuts expected
09:06 Inflation flat, retailers cutting prices for consumers
12:33 Shifts in consumer shopping patterns
13:58 Why and how some brands are now targeting higher-income buyers

What if all companies worked toward creating a transparent, efficient, and ethical supply chain landscape?

In this episode, we welcome Peter Smith, a seasoned executive with a rich background working for major companies such as Carters, Party City, and VF Corporation. Joined by our hosts Logan Ensign and Joel Beal, we're diving deep into the evolving landscape of consumer brands and the retail market.

Peter shares his insights on how brands can better collaborate with retailer partners, on the declining dominance of large monolithic brands, the rise of lesser-known brands, and the significance of data transparency and collaboration across various departments and external partnerships. We'll explore the challenges that new brands face as they strive to sustain initial success and navigate a rapidly changing market, and discuss the transformation in data availability and its crucial role in supply chain management.

In this episode, you’ll learn about:

• How data transparency can improve collaboration across sales, marketing, and supply chain department
• The different strategies your business can adopt to sustain success in rapidly changing markets
• Practical applications of AI that have a profound impact on supply chain operations

Jump into the conversation:

00:00 Critical data areas: inventory and supply chain
09:39 Data-driven market analysis improves product performance
13:04 Supplier challenges in negotiating discounts transparently
18:47 Increased data communication and transparency between organizations
23:13 High-quality global manufacturing accessibility for startup brands
29:58 Advocating for data transparency within organizations
35:58 Leveraging machine learning for supply chain insights
39:05 Machine learning replicates human intuition for guessing

What comes to mind when you hear the words ‘sales data’?

Alloy.ai’s resident expert on all things related to retail data, Manfred Reiche, says there’s a whole realm of information you’re likely missing out on when it comes to the sales data bucket. In this episode, we delve into the intricacies of point-of-sale data and its transformative impact on the consumer goods industry.

Listen in as we explore the critical role of data analysis in uncovering regional problems, managing inventory, and enhancing decision-making across various company sizes. From the importance of granularity in data to the necessity of breaking down silos within organizations, this discussion promises to shed light on how businesses can leverage vast data sets to drive success.

Three Key Takeaways:

1. Accumulating data isn't enough, the key is to convert it into insights that drive action and that’s where granularity and AI play pivotal roles
2. Encourage cooperation between different business units - breaking down silos can lead to more synchronized decision-making and better use of POS data
3. Transition from traditional methods to using real-time POS data for forecasting to better predict market behaviors and enhance supply chain decisions
   
   

AI in supply chains isn't just about crunching data—it's about creating bridges between complex info and everyday decision-making.

In this episode, Lasse Holmstedt, VP of Engineering at Alloy.ai, joins us to discuss the dynamic role of generative AI and large language models within the consumer goods sector. Throughout the conversation, we delve not only into the innovative application of AI technologies that encompass forecasting and data harmonization but also highlight the critical importance of maintaining clean and accurate data for AI effectiveness.

Listen in for a deeper understanding of the potential and pitfalls of using pre-trained AI models. Along the way we’ll also explore strategies to safeguard sensitive business data and discover how AI can transform sales and demand planning processes.

Three Key Takeaways:

• Explore leveraging textual and qualitative data in addition to numerical approaches to enhance decision-making processes while mitigating risk
• Consider applications of AI for enhanced visibility and predictive capabilities in inventory management, forecasting, and cross-platform product matching for more efficient operations
• Establish a clear data governance framework to ensure that data fed into AI systems is accurate, up-to-date, and free from errors, laying a solid foundation for reliable AI outputs

In this episode, we’re joined by Zach Horton, Senior Director of Logistics and Supply & Demand Planning at Ember Technologies, Inc. From handling Ember's exponential growth to integrating cutting-edge technology into the heart of their supply chain, Zach shares invaluable insights on the role of AI, the essence of culture, and the art of innovative product development.

Tune in to learn not just how to plan for the future but to shape it with wisdom, agility, and the invaluable FIO (figure it out) mindset. Because in today's fast-paced world, it's not just about the product—it's about the people you serve and the team that drives you. Stay ahead of the curve with us, right here, on the Shelf Life Podcast.

Three Key Takeaways:

• The implementation of a robust sales and operations planning process is pivotal for successful startup growth, promoting transparency and accountability
• AI holds the promise to revolutionize planning and analysis, offering a glimpse into future consumer products industry advancements
• F.I.O - Figure It Out: champion a proactive work culture and encourage your team to embrace challenges with an innovative spirit
  
  

Easter 2024 hopped in early this year, and as a result sales expectations were muted. The Alloy.ai team, Joel and Logan, discuss the commercial and consumer-behavior dynamics at play during holidays like easter, and what they mean for consumer brands. In this episode we discuss:

• How narrow buying windows impact consumer brands replenishment efforts
• The tough decision of whether to produce holiday-specific SKUs
• What Easter sales might say about the broader economy.

Unlock the secrets landing and growing coveted shelf space at Walmart. Bill Sinacore, VP of National Accounts at PlayMonster joins Shelf Life to share advice gleaned over his 30+ year career at industrys giants like LEGO and LeapFrog.

In this episode you'll learn:

• What Walmart buyers really care about
• Tactics to get your product on the shelf and to show your buyers with data that Walmart customers will be interested in your product
• The key metrics that matter today
• Using Amazon as a proving ground to test your product before bringing it to Walmart
• The twists and turns of product innovation in the toy industry

Join us as Bill shares guidance on everything from product development, optimal pricing, and retail relationships, with a specific emphasis on Walmart.

We sat down with Matt Bergum, the Country Business Director for Canada at Bosch Power Tools, to dive into the state of ecommerce in 2024. We shed light on the distinctions between ecommerce and brick-and-mortar product launches, the balancing act that comes with a hybrid retail approach, the complex task of managing expansive product portfolios across various online platforms (and the resulting strain on margins), and the transformation of the power tools industry in the face of e-commerce. Expect to gain an insider's look into how Bosch is aiming to grow market share in an increasingly digital market.