Retailers are petrified with the recent decline in foot traffic at brick-and-mortar stores. The closure of thousands of retail stores from established brands such as Payless, Radioshack, and Kmart, witnessed in this decade, adds to their fear. In this state of panic, CPG firms have abandoned the basics of retail merchandising over intense efforts to digitize their businesses. Undeniably, an online presence is essential but forgetting retail basics causes further damage. More than ever, effective implementation of fundamental principles such as Planogram Compliance is necessary for retail success amongst millennials and Gen Z.
For decades, CPG companies are implementing retail execution on a daily basis, some manually and some by using technology. As we speak, the transition from manual to automatic continues from west to east and small to big brands. Thanks to all the revolutionary retail technology innovators. However, even with all the innovation and transition, many CPG manufacturers and distributors still explore the perfect execution strategy for their brand.