|MONDAY, APRIL 29|
|4:00 – 7:00||Registration|
|6:00 – 8:00||Velocity Conference Opening Cocktail Reception|
|TUESDAY, APRIL 30|
|7:00 – 8:30||Breakfast|
|6:00 – 12:30||Presentations|
|12:30 – 1:30||Lunch|
|1:30 – 5:00||Presentations|
|4:00 – 5:00||Vertex Awards|
|5:00 – 8:00||Up On The Roof – Cocktail Party & Networking sponsored by MBD|
|WEDNESDAY, MAY 1|
|7:00 – 8:30||Breakfast|
|8:30 – 12:30||Presentations|
|12:00 – 1:00||Lunch|
|1:00 – 3:00||Presentations|
THE 2019 PRESENTATIONS
Check back frequently as we announce more presentations.
Evolution of Our Brands: From “Knock-Offs” to “Knock-Outs”
One of the industry’s most established and highly regarded grocery retailers won’t stop pushing the boundaries to increase its private brands’ competitive edge. Hear Kroger’s VP of Branding, Marketing & Our Brands, Gil Phipps, discuss the series of strategic actions he sees fueling Kroger’s continued growth in Our Brands.
Velocity Connections: A Conversation with Tim Cox, Director of Creative Services, Publix Super Markets
Tim will sit down with My Private Brand President Christopher Durham to discuss Publix iconic private brands, their history, evolution, and future.
Private Brand 2.0: The Next Generation of Prince & Spring at Boxed.com
In this thought-provoking presentation, Jeff will discuss the evolution of internet retailer Boxed.com‘s award-winning private brand and provide an inside look at where it came from and where it’s heading.
Retail Disruptors: The Spectacular Rise and Impact of the Hard-Discounters
Professor Jan-Benedict Steenkamp of UNC Kenan-Flagler Business School will present a look inside his new book“Retail Disruptors: The Spectacular Rise and Impact of the Hard Discounters” where he explores the biggest disruption in grocery retailing in 50 years. He analyzes hard discounters from an international perspective to raise awareness of who is under threat and what can be done about it.
Velocity Conference attendees will each receive a copy of the book.
The U.S. grocery market is the biggest in the world and it’s under competitive threat from “hard discounters” like Aldi, Trader Joe’s, and now Lidl.
Hard discounters are the source of the biggest disruption in grocery retailing in half a century. Whenever they enter a market, grocery retail is profoundly and irrevocably changed, and their sites are set on the U.S.
A new book is the first to explore this upheaval: “Retail Disruptors: The Spectacular Rise and Impact of the Hard Discounters” by Jan-Benedict Steenkamp, Knox Massey Distinguished Professor of Marketing at the University of North Carolina Kenan-Flagler Business School, and Laurens Sloot, Distinguished Professor of Retail Marketing at the University of Groningen in the Netherlands. They are leading authorities in branding, retail strategy, private brand, and hard discounting. Private brand readers may remember Steenkamp’s 2007 book “Private Label Strategy: How to Beat the Store Brand Challenge.”
“Hard discounters are the only players that brought mighty Walmart to its knees, not in one major market but in two: Germany and Great Britain,” said Steenkamp. “Is America next? Aldi is expanding its U.S. network by 60% to 2,500 stores in 2022, second only to Walmart and Kroger. And everywhere Lidl enters a market, prices drop steeply.”
Hard-discount retailers offer basic goods and daily necessities at the lowest possible prices – usually 50-60% lower than national brands – while maintaining high-quality standards. “Through a sophisticated sourcing and assortment strategy, they have achieved operational efficiencies that even Walmart cannot dream of,” says Steenkamp.
According to Steenkamp, “The market share of Private Brands in America reached an all-time in 2018 of 22%. A key catalyst that is driving US private brands is share gains from hard discounters (Aldi, Trader Joe’s, Lidl) and conventional retailers’ reaction to their growth by upgrading and expanding their own private brands assortment. It will not be long before one out of every four dollars spent on grocery products (foods, beverages, personal care, household care) will be spent on private brands.”
“Underestimating this new threat has led to dramatic decreases in the market share of conventional retailers and brand manufacturers in market after market – first in Germany, followed by France, the Netherlands, Belgium, Poland, the U.K., Italy and Australia,” the authors write. “As part of their aggressive strategy of international expansion, hard discounters have set their sights on the ultimate prize: the U.S.”
Hard discounters are having phenomenal success in many countries, says Steenkamp. “And when it comes to innovation, hard discounting is the biggest in brick-and-mortar retailing in the past 25 years.”
“Retail Disruptors” analyzes the discounters from an international perspective to raise awareness of who is under threat and what they can do about it, says Steenkamp. “We offer a message of hope, but competing is going to be challenging.”
Using data and providing actionable strategies, the authors address:
As they redefine value for money, hard discounters will remain a permanent fixture in grocery retail, says Steenkamp.
“The ultimate winner is the consumer,” he says. “Once hard discounters become a meaningful market presence, conventional retailers respond by dropping their prices – so even consumers who don’t shop at hard discounters benefit from their market success.” In 2018 alone, U.S. consumers save $20-30 billion dollars on their grocery purchases because of the success of hard discounters.
Fairway Market: The Transformation of an Iconic Brand
Since 1933, Fairway Market has been a leading food destination in the Greater New York City metropolitan area. It’s no secret that through the years and influx of fierce competition, Fairway Market has struggled to keep up with the changing landscape but what has helped it survive is the ‘Like No Other Market’ experience they offer its very loyal customers. In this sit down interview (or presentation), Jason will discuss Fairway Market’s efforts to leverage its differentiated customer experience and how the use of a revamped private brand program has brought this iconic retailer back to prominence.