THE IMPORTANCE OF FOCUS

May 25, 2017

The challenge facing traditional retailers in the exploding age of ecommerce is finding a way to build on existing strengths, while simultaneously entering new markets. To say the least, it’s a daunting task.

Luckily, the new report from the Coca‑Cola Retailing Research Council of North America features an important tool to help you on that way. The tool—a self-diagnostic of readiness—is a series of questions aimed to help users determine their relative progress in three key areas: ensuring relevance, embracing emerging technologies and stretching boundaries.

As the study, Surviving the Brave New World of Food Retailing, makes clear, all three areas are incredibly important. But to best use the diagnostic, there are a few important things to consider.

First, use the tool as a discussion document with a diverse group of participants. Include people with different skills and job titles, at different levels of your organization and consider involving some trusted trading partners. Diverse views will help create a more honest and complete picture.

But second, and most importantly, don’t view every item in the diagnostic as your “to-do” list. Try to determine the most important places to start and focus there. Working on too many initiatives could diffuse your efforts and limit improvement.

And lastly, get started. Things are changing fast and you need move just as quickly.

The diagnostic tool and the entire study can be downloaded for free here.