Dee Set Group and Reapp CEO, Greg Philips has revolutionised Dee Set Group’s field sales operations, propelling the company from traditional logistics to the forefront of technology within just five years.
Working with big names such as Sainsburys, Morrisons, Unilever, Kelloggs and Mars, Greg can offer a full view of the retail sphere.
In 2023, Greg oversaw an ongoing £7 million into Reapp tech and AI which dramatically redefined their product lineup to become the ‘ultimate FMCG toolkit’ for major brands.
Reapp uses industry-leading AI technology to analyse multiple sources of data, providing the latest retail insight to brands to help improve store performance and drive sales growth.
Below are Greg’s predictions for 2024 and how some of the most asked questions in the industry will play out from an expert’s perspective.
Inflation and the cost-of-living within retail
“The cost-of-living crisis will remain a huge challenge for shoppers in 2024 and there will be shades of the spending habits we saw last year, with shoppers trying to stretch their spending to cover more bases than ever before. Retailers will once again be challenged with re-engineering products, supply chains and service to meet decreased consumer spend.
“We’re not escaping the turbulent trends we saw last year with inflation. We won’t see double digit inflation again for some time, but the headline rate will still remain higher than it has been over the past two years and any recent decrease trends will come to a halt.”
How own-label will perform in 2024
“Own-label will continue to sky-rocket in popularity and performance, as supermarkets continue to invest in innovation and lowering prices. The bar will continue to be raised with more premiumisation in own-label, particularly across the big four.
“There will be lots of interest around price and proposition this year, supermarkets will need to continue to compete against each other in the race to lowering prices for shoppers’ everyday essentials, this is because shoppers’ loyalty is at an all-time low with the majority trying to find the cheapest supermarket within their area.”
The loyalty-card scheme debate
“The loyalty-card scheme deliberation will be one of the hottest topics within the industry this year and it will be interesting to see how the big retailers react to media interest in their schemes.
“It’s important to note that as well as our major supermarkets’ loyalty schemes, there is also a proliferation of independent businesses that are entering the market. There are so many players involved that there is a real danger that we don’t know where shoppers’ data is going, and the idea of loyalty schemes will be harder to control.
“The challenge for retailers and businesses will be to reassure their shoppers that these schemes are not invasive, but equally consumers need to be more open to the fact that if they want everyday low prices, then they need to comply in some sense.”
Limiting technology in-store to increase footfall and customer experience
“At a time where everything is dominated by online shopping, another challenge for retailers this year will be providing a reason for people to physically visit their stores. I think the way things are going in terms of introducing more and more technology within supermarkets, this will be toned down as we’re starting to see backlash from shoppers’ for the lack of human touch.
“With an increase in self-automated checkouts and even having to produce receipts to prove your innocence against shoplifting, this is completely unfair and a displacement of labour.
“We’re heading for a future dominated by technology and AI, but for the time being that is still some distance away. Retailers need to find the sweet spot between humans and the machine.”
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