Industry NewsSpend Management Tags: Containerboard prices in the United States have remained relatively unchanged since Aprilwhich, according to RISI, represents one of the longest periods of price stability in this market since Most analysts in the paper industry expect a continuation of stable prices early in Downward pressure will likely occur in the first quarter due to weakening export demand in the US, which will drive an overall decline in recycled containerboard prices.
From adapting to shifting consumer demographics and evolving appetites to competing with online sellers and a fast-growing class of powerful pet specialty chains, these are the issues that will ultimately decide the future of the pet retail landscape.
Will it remain the vibrant and diverse marketplace that has made the pet specialty channel the envy of other retail industries, or will competitive pressures eventually lead to an environment where price and convenience—instead of innovation and personal connections—distinguish the winners from the losers?
It all depends on how pet specialty retailers respond to the challenges set before them. Kevin Fick, CEO, Worldwise How do you expect the dynamics between online and brick-and-mortar stores to play out over the next few years?
Is there anything traditional retailers could be doing to compete more effectively with internet outlets? Online will definitely continue on its growth path as consumers of all ages especially the Millennials increase their comfort level of shopping on their phone and laptops.
In order to compete more effectively with them, I think the brick-an-mortar retailers will definitely need to leverage a great store experience and over-the-top expert service, and provide competitive retail prices.
Anything short of this will likely prove to be a difficult path to compete with online. What consumer demographics should retailers be focused on over the next few years? How can they effectively reach these shoppers and turn them into loyal customers?
The internet will continue to grow and take share from all offline channels. The retailers who can adapt quickly and figure out what they are good at will continue to do well. Strong retailers will begin to gradually reduce their emphasis on brands that are not exclusive and re-build their assortment with exclusive brands that are seeking exposure in the specialty channel.
What are some of the lessons that brick-and-mortar stores can learn from their competitors on the internet? Retailers should remember that there is no replacement for individual service and the experience of shopping one-on-one. Making the shopping experience memorable and enjoyable is critical.
Hiring great employees who are friendly, well-trained, knowledgeable about the products you carry and know how to engage with customers is the key. What we can do is to focus on the consumers who appreciate a good shopping experience with fair pricing and actually meeting real people who can answer questions.
This includes carrying the innovative new products that are exclusive to pet specialty stores. Bryan Nieman, Brand Director, Fromm Family Foods What are some of the strengths that pet specialty retailers have that will be particularly important in driving growth for the industry over the next few years?
One of the biggest strengths pet specialty retailers have in the market is the ability to develop authentic relationships with their customers. Customers often choose a neighborhood or specialty retailer in part because of the intimate buying experience they have.
These stores are small and mighty, with very dedicated and knowledgeable staff. Because they are typically independent or family-run businesses, there is a level of personal attention they give their customers.
In turn, the customers often trust the counsel of the staff and owners even more. The result is, if a neighborhood pet retailer gets behind a brand or a trend, they can often quickly convert new customers while answering questions and strengthening the sale.
What do you think will be the key pet nutrition trends that will drive continued sales growth in the pet specialty channel? One of the key trends that will continue to drive growth for the pet specialty segment is variety.
Pet owners are looking for options for their pets—some for health reasons like sensitivities or allergies and some for the simple pleasure of delivering something new and exciting at mealtime for their pets that are truly family members.You can also swap the width, length and depth dimensions.
The objective is to keep the cube size of the box unchanged, but use less paper in the manufacturing process. Depending on the original box specifications, a change like this can reduce paper costs %.
2. What role do you expect the internet to play in the corrugated box industry?
What are some ways that Edmunds could better use the Internet to foster growth? I would expect that the internet would be a great resource for researching other corrugated box companies.
It would be good for advertising as well. What Role Do You Expect The Internet Play In The Corrugated Box Industry.
CASE STUDY: EDMUNDS CORRUGATED PARTS AND SERVICES. Larry Edmunds grimaced as he tossed his company’s latest quarterly earnings onto his desk. What role do you expect the internet to play in the corrugated box industries? What are some ways that Edmund could better use the internet to foster growth?
Internet can help develop a sustainable competitive advantage. This will help to lower down costs in all ways. A web-based inventory control system can be used to reduce storage costs. -We expect that the Internet could be a way to develop the corrugated box industry more quickly and widely.
Because the Internet is transmission without borders. It can transmit the information for a long distance just in a second. What role do you expect the internet to play in the corrugated box industry?
What are some ways that Edmunds could better use the Internet to foster growth? I would expect that the internet would be a great resource for researching other corrugated box .