Feature image: Retailers vs package food change market share changes. The top retailers are getting bigger while the smaller packaged goods companies have increased share at expense of larger ones. This visual and additional content about it is contained in the Visual Dataset.
Platform Updates Summary
I want to point subscribers to this post I wrote that rolls up the current state of the retail landscape, how it is evolving and how consumer goods startups can adapt to it. I also added an addendum to University, Section 7: Resellers about doing business with Costco.
COVID-19 is affecting everyone, some much more than others. On the business side, it is causing significant disruption for the other businesses I own. Here’s a few things I am doing:
- Cutting expenses to the bone and removing anything that is not critical. Don’t wait for things to turn around. We may be in for some real disruption for awhile. Cut immediately as fast as you can.
- Increasing some targeted marketing because as other businesses pull back, maybe I can step in to take advantage so that when consumer do start to spend, I might be in a better position to capture those sales. Online marketing inventory has increased lately so pricing may be more favorable.
- Taking advantage of normally paid resourced being offered for free. A great example are SEO courses through Moz that are now free for a few months.
- Keeping an eye out for things that can be purchased on the cheap, which is especially the case during a recession when there are fire sales to raise cash. Are there inventory components or equipment I could use that I can scoop up for cheap?
- Lay off hard selling, and focus on branding and offering free resources to my market. No one is in a buying mood, but stay in front of them, help them and entertain them with creative ads.
- Everyone is struggling. Be nice to people, reach out and offer to help and thank them for what they do. Kind words and encouragement go a long way.
- The evolving consumer product retail landscape and how consumer goods startups can best take advantage
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All updates are recorded in the Changelog:
- Section 7: Resellers – Costco Addendum added
Data Platform Updates
- We are continually adding in new records based on our research.
See Calendar for details.
- Open office hours scheduled as follows:
- Thursday, April 9, 10:00 am.
- Thursday, April 23, 10:00 am.
Other Items Worth Sharing
The following visuals and additional content about them are contained in the Visual Dataset