Channel expansion strategy: How to driving profitable and incremental growth
Expanding in new or underdeveloped channels can be a tremendous source for growth for both new and established consumer brands. When successfully executed, channel expansion can help brands tap into new consumer segments and shopper occasions. However, brands often find that in reality, they struggle to realize their original growth expectations after investing into new channels. On top of that, brands also have to deal with additional complexities that come with expanding channel distribution such as channel conflict, price integrity and cannibalization risks.
To successfully reap the gains from channel expansion, brands need to develop a channel strategy backed by a robust understanding of the consumer - channels should be clearly prioritized and assigned defined roles. Brands then need to ensure they have the right fundamentals in place to win in their prioritized channels – a one-size-fits-all approach rarely works. In this webinar, Ellen Kan, Senior Director out of our New York office, will share strategies and best practices for getting channel expansion right, covering topics such as:
- How to accurately size and hence prioritize channel expansion opportunities taking into consideration factors such as incrementality and cost-to-serve
- How to tailor your execution strategy to address the specific requirements to win in each channel, including differentiating your messaging, product offering, assortment, pricing and promotion strategy
- How to navigate potential pitfalls and put in place the right organization, processes and programs to mitigate channel conflicts
As consumer shopping behavior and the retail landscape continues to evolve, channel expansion will be one of the critical growth levers for consumer brands moving forward. Join us to learn how to take advantage of these opportunities moving forward.
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