Monthly Archives: September 2022

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Six Trends That Will Shape Brazil’s Consumer And Retail Market

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Consumer and retail businesses in Brazil can anticipate a promising future. Employment rates and consumer groups are growing, while political risk, economic uncertainty and inflation continue to stabilize. Overall, the retail market grew by 15.7% in 2009; slightly over the 14% forecast growth. The segments presenting the highest growth were automobiles, at a record 32%, furniture and domestic appliances (25%), clothing and shoes (16%), tobacco and beverages (15.5%) and pharmaceutical and cosmetic items (15%).

Boosted by an increase in the level of salaries and a reduction in unemployment, the retail segment in Brazil avoided the effects of a stronger negative GDP brought about by the reduction in exports and foreign direct investment in the country. The emergence of the C SES level, those who receive a maximum of US$2,700 per month, was and still is one of the main pillars of such growth. This group now receives 46% of all salaries paid, against only 37% in 2003.

The rise of Brazil retail market

Over the years, many Brazilian companies have become more competitive and innovative in most segments. Procurement and purchasing have become very sophisticated, along with the rise of cost and pricing specialists. Innovative sales promotions and services are backed by customer surveys and trend analysis and help enhance the typical Brazilian shopping experience.

Examples include in-store wine cellars and extended services, from in-store beauty and gastronomy consultants to food and photo printing kiosks, or extended warranties to mobile recharges and flash promotions at cash registers.

Brazil is also probably the most advanced and demanding country in Latin America, in terms of innovative and creative advertising campaigns, and has been leading in this area for at least two decades. Brazilian agencies are constantly winning international awards for their creative advertisements for consumer brands.

Besides creating great advertisements, some social media groups are now being monitored by larger retailers, who are also “twitting” their promotions to an increasingly larger group of connected consumers. Price differentiators are no longer the sole tool to attract and retain a client that demands good service, variety, and good pricing “” all this to be reported in some sort of forum or online group afterwards.

The intense degree of competitiveness is also expressed in advertising campaigns where some companies appear to be edging ever closer to the limits allowed by legislation.

When traditional tools seem to be exhausting their power, innovation will determine success or failure. To excel in the future, consumer and retail companies in Brazil should dedicate time to understanding their constantly changing groups of customers in a constantly changing environment.

Six trends that will shape the market

How companies fare in the future will be determined by how well they capitalize on six important market trends that will shape the consumer and retail industry. Here are some predictions about where the market will be heading.

1. Continued consolidation ”
Many local consumer and retail companies have been turning to mergers and acquisitions (M&A) in order to capture economies of scale, fight off domestic and foreign competition as well as secure leadership positions within their segments. Several have become multibillion-dollar market heavyweights in the last 12 months alone.

With companies like Unilever reporting Brazil as their second largest market; making up 21% of global sales and contributing US$6 billion per year to the fast moving consumer goods (FMCG) company; international consumer and retail players are increasingly finding Brazil attractive.

Indeed, Brazil will remain one of the top M&A destinations within the global consumer and retail landscape for several important reasons:

Latin American hub ”
Due to its geographic position, level of industrialization and developed services industry, Brazil is considered a hub to Latin America. Argentina is the second most important destination of Brazilian exports after the US, while Chile, Colombia and Mexico are located just around the corner, so to speak.

Base for manufacturing
“FMCG products such as personal hygiene goods, consumer electronics such as mobile handsets and domestic appliances, as well as processed foods such as potato chips to frozen vegetables, are manufactured in Brazil and shipped to neighboring countries.

Robust economic growth
“Sound economic development as well as two long-awaited events; the 2014 World Cup in Brazil and the 2016 Olympic Games in Rio de Janeiro; are certain to boost the infrastructure, telecommunications, retail and services sectors, among others. GIA estimates that an estimated 2 to 3 million new jobs will be created in Brazil over the next six years.

Large domestic market
“One important consequence of the recent growth in Brazilian economy has been the emergence of the “C SES level”, represented by over 40% of the population that is steadily migrating from poverty levels into consumer levels. In addition to this, the sheer size of Brazil”s entire 190 million population cannot be ignored.

Prediction: Brazil will reduce its dependence on foreign investment, as local companies continue to grow, consolidate and benefit directly benefit from a stronger internal market.
”
2. Impact of social media trends
“E-commerce in Brazil has been growing at over 30% per year since 2000, reaching close to US$ 5 billion in 2009 “” even if broadband, at just slightly less than six percent, is not yet a reality for most people. Brazil also has one of the most well developed online banking systems in the world.

In addition, the country occupies leading positions in terms of number of Internet users (63 million or 35% of the population) and there is ample space for further growth. The time they spend surfing the Web and on social media websites such as Orkut, MSN, and the recently discovered Facebook is phenomenal. At 48h 26min per month, Brazilians spend more time web surfing than their peers in the US (42h 19min) and the UK (36h 30min), based on July 2009 estimates.

Such high Internet usage and participation in social media impacts the way companies sell to and communicate with the market, as consumers compare products, share experiences with peers and, more importantly, participate in the creation of products and even management of companies. Innovative companies are keeping blogs and Twitter accounts to listen to their customers voice their opinions on store layouts, product development and even competing products.

Prediction: The development of certain retail segments such as hypermarkets and even the automobile industry may see radical changes, as consumption migrates from the physical to the online environment.
”
3. The potential of the “unbanked”
“The banking industry saw an important chapter in 2009, when second tier Ita acquired Brazil”s third largest bank, Unibanco, to become the country”s largest bank. It usurped the position of market leader, Bradesco, a position it had held for close to 50 years.

Both groups now plan on targeting the 49% of the population who are “unbanked”, either through new branches to be opened in remote areas of the country, or through partnerships with popular retail chains, who typically sell on credit and are thus already playing the role of a bank. (The “unbanked” are those who do not have any bank accounts, and thus have no access to other financial services such as loans and insurances.)

Prediction: Consumer and retail segments in Brazil will benefit when banks increase their reach through retail stores. This is a trend already in place.
”
4. Greater credit card penetration
“Brazilians have been more inclined to pay with cash, which is typically drawn from automated teller machines (ATMs) only once or twice a month. Credit in Brazil accounts for nearly 40% of gross domestic product, far behind the 70% average of other emerging countries. Over 50% of the population does not have a credit card.

Banks and retail chains are addressing this gap. Bradesco, in partnership with Banco do Brasil, will be launching a credit card in August 2010 that targets lower SES level consumers. Most retail stores offer their private label cards, especially to those people who have little or no access to bank credit.

Prediction: Consumption trends, especially those relying on online transactions, will change, as more and more people become accustomed to using credit.
”
5. Emphasis on being eco-friendly
“Recent panels presented in the World Economic Forum in Davos showed that Brazilian consumers are more demanding than their European counterparts in their concerns about the environment and how products are manufactured or disposed of.

Companies that fail to respect at least the basic environmental rules in the region are at risk of being rejected by a good percentage of local customers. The trend can already be observed in some supermarkets which have started selling eco-friendly products, diminishing the use of plastic bags and providing recycling collection centers.

Prediction: Consumer and retail companies will begin to change their product formulas and possibly even eliminate some product packaging. Examples include the cardboard boxes that come with toothpaste tubes or any excess plastic packaging from a variety of products.
”
6. An aging population
“Store sizes in Brazil have been shrinking, partly due to the aging population, as older shoppers prefer not to carry heavy shopping bags home. Catering to an aging population is not a fad. Life expectancy in Brazil increased from 69.5 years in 1998 to 72.7 years in 2008.

Prediction: Companies will need to develop tools and methodologies to understand this groups needs in order to tap this market successfully. This demographic change also calls for tailored and profitable products and services, such as the tourism industry, industrialized food companies and gym centers.”

With the ground paved for rapid growth in the retail segment in Brazil, consumer and retail companies need to beware of sudden changes that can occur in emerging markets. The entrance of a new player, a merger or an acquisition for example, can change the competitive scenario quite drastically. Demographic and cultural changes can also have far reaching implications.

As competition becomes ever more intense, companies will need to become more concerned with segmenting, positioning and promoting their products and services accurately. All this can only be achieved by close listening to and monitoring the markets they are in.

Creating The Perfect Atmosphere In Your Retail Store

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In a competitive shopping market it is vital to your business not only to attract customers, but to keep them coming back. Lets face it, no one is being mandated to spend money in your store. However, by creating the right atmosphere you will be able to ensure that your customers will keep coming back, hopefully with friends. Here are a few tips for achieving that irresistible atmosphere for your store.

Create Your Stores Identity

First and foremost you need to determine your stores personality and the clientele you are trying to attract. People like places with a distinct style that appeals to them. Imagine your ideal customer, what would they like? Would they like to shop somewhere eclectic and funky or somewhere sleek and modern? Once you pinpoint the type of personality you would like to give your store you can move on to building that perfect atmosphere.

Its All In the Details

After you have decided on the feel that youd like your store to have its important to select fixtures and details that speak to that aesthetic. Investing in key pieces such as furniture, lighting and wall color that reflect your stores style will not go unnoticed by your customers. If you are trying to achieve an artsy and trendy space, go with vibrant colors on the walls like a bright green or blue. Pair that with vintage furniture and eclectic details like an oddly shaped mirror or pictures and paintings with unique frames. Unexpected details like a shag floor rug or mis-matched shelving is sure to draw in a funky crowd! If your ideal store is more modern and upscale, opt for strong, solid colors on the walls like a deep red or cool steely grey. Sleek furniture with clean lines and bold details like a striking light fixture or brushed chrome flower decanters will likely attract the crowd you are aiming for. Putting in the time to pay attention to the little details as well as picking out the perfect fixtures will speak volumes to your customers and will make them want to come back.

Sounds for Success

Just like the look of your store, the sound coming out of it can do just as much to attract or repel customers. If you are going to play music, keep it at a volume that is reasonable. Who wants to shop somewhere that they feel the need to wear earplugs? Also, consider the type of music that your target demographic wants to listen to. Older and more sophisticated clientele will appreciate soft rock and easy going jazz. Whereas a younger and more fun-loving crowd will be drawn to chart topping hits and funky indie music picks. Always keep your customers desires in mind when making your music selections.

The Face Of Your Store

No matter all of the elements you incorporate into your business, the key factor to its success is its staff. They are the face of your store! It goes without saying that your employees should be well trained and customer service oriented. Take into consideration the image that you want them to project. Uniforms are not necessarily required, but it is wise to enforce a strict dress code. You dont want your employees inappropriate dress to be what stands out in your store.
As you begin the process of creating the perfect atmosphere in your store, remember to stay true to your vision. You will know you are done when everything in your store seems to feel just right. Pay attention to the feedback from your customers in case there are any major adjustments that need to be made, or anything that definitely seems to be working. Working to maintain the atmosphere that is most appealing to your customer base will help to ensure your businesss success.

Using air conditioning effectively in shops and retail outlets

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With temperatures already soaring in the UK, many shops and retailers will be wondering whether we are in store for another summer of 06. This renowned year saw recorded temperatures as high as 97.7oF in Wisley, Surrey and the two month period during June and July has gone down on record as the hottest summer since records began over 200 years ago.

If New York is anything of an example to the rest of the world, then retailers can benefit from periods of excessive heat, as consumers seek creative ways to escape the temperatures and resort to some retail therapy on their local high street and out of town retail parks.

And therein lies the issue. Consumers now expect to enjoy their shopping experiences in cool environments and in particular, the air curtain was designed to keep cool air in the stores and dowse the shopper in a refreshing wave as they enter a store.

However, it is estimated that the UKs high street stores waste 300million a year in energy costs to keep shoppers cool in summer and warm in winter, so how can retail bosses align this excessive waste with the demands of their consumers? Perhaps we can learn from our counterparts over the pond, given that they deal with a heat wave on an annual basis?

1. Have your existing, in-built air conditioning serviced well ahead of summer to make sure it is running efficiently. And if you are concerned about any mini-heat waves during downtime, then consider hiring portable air conditioning to cover the intervening period.

2. Have an emergency back-up plan in place if your air conditioning breaks down. Portable air conditioning companies can supply units that replicate the existing system and they will be able to act most efficiently if you put a contingency plan in place before an emergency strikes.

3. Plan ahead for busy periods within the retail outlet: if you are planning a sale, a new range or something similar you may choose to hire in portable air conditioning as extra capacity for key areas of the store, such as the changing rooms and till areas etc.

4. It is also common sense to have a contingency plan in place if temperatures spiral so high that your shop or retail outlet requires additional air conditioning.

5. When your air conditioning is in use – make sure you use it effectively by keeping doors and windows closed. It is a retail myth that propping the doors open may entice more consumers in to a shop. In fact New York has passed legislation actually banning many stores from leaving their doors open during the summer months. This not only helps reduce your carbon footprint and greenhouse emissions but will also reduce your energy bill. It has been estimated that stores that leave doors open waste around 20-25% of the air conditioning they produce.

6. Set the thermostat to a reasonable temperature. The Carbon Trust recommends that buildings do not need to dip below a temperature of 24 degrees Celsius but in the summer of 2010, some outlets were found to set their indoor temperature as much as 8 degrees less than outside, which is unnecessary.

7. Talk to employees about the most suitable temperature in your shop or retail outlet. If they are forced in to wearing their winter woollies to work during the summer months, then the air conditioning settings need a rethink.

When a heat wave hits, it can be tempting to hire the largest available air conditioning unit. However, it is always worth seeking guidance on the type and size of system for individual circumstances to both maximise the effective removal of hot air and avoid unnecessary operating costs. In particular, within a retail setting, it is necessary to consider the health and safety aspects of hiring portable air conditioning to ensure there is a suitable location away from the main areas of highest footfall.

Whilst some shoppers may momentarily appear to enjoy being engulfed in cool air, increasing numbers of consumers are becoming more environmentally conscious and appreciate the need for shops to exercise restraint when temperatures start to rise.

The Migration to Retail S&OP

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Sales and Operations Planning (S&OP) has been considered a best practice in the manufacturing industry for the past 25 years. Initially started as a process to balance demand and supply, retail S&OP has evolved to a more robust Integrated Business Planning (IBP) process that links Strategic Plans, with product portfolio reviews and new product introductions, unconstrained demand plans, supply plans and capabilities, and financial appraisals of the Integrated Business Plans over a planning horizon of 24 months or more.

Significant benefits, both financial and strategic, have been the result of S&OP implementations in the manufacturing sector. However, in the retail sector, S&OP has not been adopted or at least not adopted in what would be defined as Class A Best Practices. This is currently causing the Retail Supply Chain network to remain unpredictable, minimizing some of the benefits a retail supplier would see from S&OP as well as the benefits a retailer would see if it adopted retail S&OP Class A Best Practices.

This article on Retail S&OP will describe recent developments with retail’s migration towards integrated business planning implementations. In detail, we will discuss:

1) Why Retail S&OP?

2) What is Retail S&OP (in detail)?

3) The impact of Retail S&OP on the retailer and the retailer’s suppliers.

The Role of Effective Integrated Business Planning and Communication

Retail S&OP is a step-by-step process that includes monthly reviews, product reviews, and category management. Before it was introduced, however, plans were always kept on the short term horizon, a nightmare for effective planning initiatives. Today, VICS, or Voluntary Inter-industry Commerce Solutions, is a standards body that almost every major corporation, such as Walmart, Lowe’s, and Target, abides by. Before VICS introduced these best practice measures, suppliers were pushed to implement integrated business planning in some form or another into their existing processes – whether they worked or not – in order to reduce costs and encourage in-house efficiency. Essentially, it was to keep up with the competition.

Reciprocation and trust remain vital in keeping the supply chain strong, but these elements have to trickle down to every stepping stone for integrated business planning to work. With VICS heading up retail S&OP initiatives, the process established a more direct approach to integrated business planning, at least two years out, that involved all partners and links in the chain. Information was shared to promote reciprocation. With a more proactive sharing strategy in place, companies using retail S&OP are often more adept at balancing and forecasting supply and demand and product launches, making the entire retail supply chain significantly less reactive and, thereby, saving money for everyone involved.

The product itself benefits from better integrated business planning strategies. In order to decide which new product will in fact be launched or promoted, the merchandising group draws up a monthly review to chart out a course of action. But planning doesn’t stop at the monthly level since many buyers plan well in advance of a year. Clothing purchases can occur eighteen months out; stores change layouts; aisles get wider; and promotional activities are scheduled — this all takes months and manpower to plan. However, if this information is shared in advance, suppliers can plan appropriately.

Some of this shared information comes from various sources, such as the store replenishment group, who indentifies in-store demand. Point of Sale (POS) is another useful retail tool that can scan and record purchases and, therefore, help forecast demand. It’s the responsibility of the warehouse management and logistic transportation group to collaborate to figure out lead time as well as how much inventory should be kept in stock. Routine supply review aggregates this detailed information to ensure there is enough product in the right place at the right time. And, as would be expected, there are significant cost improvements here. Retail S&OP helps avoid supply chain disasters, while keeping necessary merchandise in stock. Too much stock on hand equates to money sitting in limbo, while an extended shelf life requires products to be returned to the manufacturer or, worse, become dated.

The Future of Integrated Business Planning in the Retail Industry

Issues are bound to arise, but any problems should be resolved at the lowest level before being escalated. Potential concerns may center on building new distribution centers, declines in demand, or poor promotions. If questions remain, any financial appraisals can be done by the CFO or executive team, based, of course, on monthly reviews that forecast profit.

Company executives will be looking at the business over the next twenty four months, primarily at the aggregate level, to make sure that the company is going in the right direction. During each strategic meeting, executives will expect retail S&OP to work in this capacity, while hoping to avoid the Bull Whip effect. (In a nutshell, this means if you were to break out the different links in the supply chain and look at each individual product, it would be fairly predictable. If you were to go to different links of supply chain and look at orders between each link, such as supplier to store, the image starts to look like a bull whip, vacillating and unsteady. However, the farther one gets away from the retail store link, the more the bull whip fluctuates up and down.)

You may be wondering what’s next for integrated business planning in retail. Above all, collaboration is the key to success. CPFR(R)(1), or Collaborative Planning, Forecasting and Replenishment, an industry standard of VICS, helps steady the Bull Whip, eliminating many of the emergencies or issues. Integrated business planning also ensures that fires are extinguished at the source. Just remember that the biggest sin in retail is to disappoint customers with ‘out of stock’ notices – largely preventable with a methodical approach to retail S&OP.

References

1. CPFR(R) is a Registered Trademark of the Voluntary Interindustry Commerce Standards (VICS) Association.