In today’s market, European retailers and manufacturers are often pitted in a fierce battle for share of declining disposable income. They face major disruptions, including new shopper values, changing habits and technologies. In short, developing and selling new products and services has become more complex. To survive, companies must understand the changing shopper needs and proactively alter their business strategies.
In this report, the Europe Council found that many well-known shopper insights, such as their need for smart convenience and focus on sustainability, are still poorly met. Retailers can capture business growth opportunities by finding more effective solutions to those needs.
If retailers and manufacturers want to reignite growth in the European retail sector, they must shift from lengthy market research projects and learn by adhering to three fundamental principles: think big, test small and learn fast. Read the report below to discover more about these approaches.