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The past year has left a lasting impact on retail and drastically shifted the way customers interact with brands. Matt Katz, Managing Partner and Head of Retail & Consumer Packaged Goods, was quoted in “DTC, Drop Shipping and the New Normal” for Sourcing Journal. He discusses the ways he has seen the market transform and how to nurture customer relationships, develop strong loyalty, and achieve long-term success in the new environment.
The pandemic has driven many retailers to sprint to digital. Matt reflects on the new environment stating, “Absolutely, they value the experience they get to retail, and I also think they value the point of view that both retailer and brand provide. I think no one is regretting the investments were made to push digital forward.”
As retail continues to evolve, brands will need to constantly invest in strategies that bolster customer satisfaction. Matt looks at ways to achieve this stating, “I think what you’re seeing is the recognition that retail is multi-and-omni-channel. I think that retailers are looking for partnership and differentiation, and brands have an understanding of where their products are best distributed, and now they’re trying to marry those two objectives. Those are the macro factors in coming up with an assortment and a solution that consumers are going to gravitate to.”
Read the full article here.
Matt Katz serves as a Managing Partner and heads the Retail & Consumer Packaged Goods and Private Equity practices at SSA & Company