Event Buzz: Household, GM and Value Merchandise 8/14/2015
The household, general merchandise and value industries are very mature categories with a large variety of players in the marketplace, and during ECRM’s recent General Merchandise events, which covered household, general merchandise, dollar and value product offerings, ECRM staff held one-on-one interviews with attendees to discuss industry trends, challenges and opportunities in these areas.
Indeed, one might say that the constant influx of new products and suppliers is both a key challenge and opportunity, as retail buyers and suppliers must stay on top of the latest consumer trends in order to select the assortments that best match their markets.
“We’re are moving towards a more customized assortment that is geared towards the audience of each retail partner rather than offering a cookie cutter or blanket program to all retailers,” said one supplier, attendee. “This helps both us and the retailer to stay relevant in a market where the trends are constantly changing.”
In addition to store- or market-specific assortments, two other trends were noted by several attendees interviewed:
Female Product Focus:
With women making the majority of the shopping decision for a household, suppliers and their marketing partners are changing the way that items are packaged in an effort to appeal more to the female consumer. But this does not mean that suppliers are just slapping on a pink label; rather, more attention is paid to package shape, the product’s ease of use and its quality.
All Natural Products:
More and more consumers are becoming mindful of their carbon footprint and this is being addressed in the products they use around their home. For example, many household cleaners have negative effects on the environment and the human body, which is why more suppliers are offering natural and more eco-friendly alternatives. According to a report released by Smithers Apex, “The race is on to develop sustainable cleaning products using detergent ingredients from natural renewable sources that cost and perform as well as being sourced from petrochemicals. Suitable renewable sources include palm, coconut and other plant oils.”
What trends are you seeing in household, general merchandise, dollar and value product offerings? Let us know in the comments section below!
Register for the 2016 General Merchandise Events:
Value & Dollar Merchandise
Housewares, Household & General Merchandise