Retail Underwent Revolution in 2020: Innovations Will Continue in 2021
BOCA RATON, FL, Jan. 07, 2021 — The retail landscape underwent major upheaval in 2020.
Forced to innovate because of the pandemic, retailers responded with curbside pickup, contactless deliveries, and increased emphasis on digital sales.
“Savvy retailers developed new ways to sell to consumers and to reach them,” said Mitch Gould, a 30-year retail professional in consumer goods. “Retailers developed virtual showrooms, increased their usage of social media influencers, including new platforms, such as TikTok.”
Gould asked how many people knew of Zoom or Instacart before 2020.
“Today, they are part of our daily lives. Zoom has become a verb,” Gould said.
Instacart also played a role in helping grocery stores and suppliers meet the increased demand for products by sharing data with food producers, which helped keep the supply chain running smoothly.
“Now, retailers have developed apps that allow point of sale purchasing, which eliminates waiting online at checkout,” Gould said. “In my 30 years in retail, I have not seen such innovation as I did in 2020. Henry Ford revolutionized the industrial world with the assembly line. What you saw in 2020 comes pretty close.”
Gould said convenience, price, and immediacy are three major consumer considerations.
“Consumers want convenience when they shop, regardless of whether it is online or in-person,” Gould said. “They want the best price, and they want it as quickly as possible.”
Several years ago, Amazon made next day delivery the standard.
“Consumers now want same-day delivery,” Gould added.
Gould, founder and CEO of Nutritional Products International in Boca Raton, is a long-time retail professional whose career has spanned most consumer goods categories, including lawn and garden, hardware, sports nutrition, dietary supplements, skincare, nutraceuticals, cosmeceuticals, and beverages.
Gould and Nutritional Products International work with domestic and international health and wellness brands seeking to enter the U.S. market or expand their presence.
“The companies I talk to daily realize the retail landscape has shifted,” Gould said. “They knew online was important pre-pandemic. They know it is essential post-pandemic.”
Gould said health and wellness brands also realized that consumers, more than ever, want dietary supplements that will help them stay healthier.
“Many wellness companies did well during the health crisis because people became focused on their health,” he said.
Brands today also realize a significant number of consumers are looking to buy products from socially responsible companies.
“The values of the company will become more important in the years to come,” Gould added. “Brands also need to innovate more than ever if they want to succeed.”
Gould understands the importance of innovation.
Almost two decades ago, Gould realized that international brands struggled to export their products to America.
“The companies didn’t have the infrastructure in place to succeed,” Gould said. “They also didn’t understand the American consumer culture, which doomed them to failure in many cases.”
Gould said he developed the “Evolution of Distribution” platform, which puts the sales, marketing, logistical services under the NPI umbrella, to help companies sell their products in the U.S.
“We have sales professionals, an in-house marketing team, and operations services at a cost-effective price point,” Gould said. “We make it easier for brands to sell their products in the U.S.”
To achieve success, Gould has surrounded himself with a team of retail professionals.
Jeff Fernandez, NPI president, previously worked as a buyer for Amazon and Walmart, the world’s two most dominant retailers. Kenneth E. Collins, formerly a top sales executive at Glanbia Performance Nutrition, the world’s largest sports nutrition company, recently came aboard as NPI’s Executive Vice President.
“We also provide operations services, FDA labeling compliance, and a marketing team — all under the NPI roof,” he said.
For more information, visit Nutritional Products International online.
MORE ON NPI AND ITS FOUNDER
NPI is a privately-held company specializing in the retail distribution of nutraceuticals, dietary supplements, functional beverages, and skincare products. NPI offers a unique, proven approach for product manufacturers worldwide seeking to launch or expand their products’ distribution in the U.S. retail market.
Mitch Gould, the founder of NPI, is a third-generation retail distribution and manufacturing professional. Gould developed the “Evolution of Distribution” platform, which provides domestic and international product manufacturers with the sales, marketing, and product distribution expertise required to succeed in the world’s largest market — the United States. Gould, known as a global marketing guru, also has represented icons from the sports and entertainment worlds such as Steven Seagal, Hulk Hogan, Ronnie Coleman, Roberto Clemente Jr., Chuck Liddell, and Wayne Gretzky.