CRITICAL THINKING

Critical thinking doesn’t start and stop with the project brief. We are forever evaluating the world around us and thinking about the future of your industry. So when the time comes to take your brand to the next level, we’ll be ready.

PERSPECTIVE ARTICLE

DRIVING TOPLINE REVENUE THROUGH MERGERS & ACQUISITIONS

April 8, 2021  

When companies go through a merger and acquisition, their first priority tends to be aligning operations and eliminating redundancy. That’s understandable, but it often overlooks the fact that to fully leverage the partnership and generate new revenue, both partners need to focus on their most critical stakeholders—customers, ultimately changing their behaviour. We’ve developed a simple but scalable formula for doing that and driving revenue potential in a way that truly celebrates both brands.

perspectives

perspectives

Our point of view on current industry challenges, emerging trends, and shifting need states that we think deserve better solutions and more strategic thinking.

GETTING PHYSICAL: THE RETURN TO RETAIL

With vaccines now being rolled out, retailers are anticipating the return to full in-store capacity. But not all consumers will be comfortable jumping back into a pre-pandemic retail environment—and online shopping is not enough to bridge the revenue gap. Retailers need to take the shopping experience to consumers, rather than wait for consumers to come to them.In Perennial | DCM’s 2021 Brand Outlook video, Chief Brand Officer Kevin Lund shares our take on the important shift brands must make to succeed in the coming year, and offers three filters for evaluating success.

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THE POST-COVID WORKOUT: A PERFECT FIT FOR GROCERY

Since 1965, when the first Gold’s Gym opened in Venice, CA, the fitness business model has offered consumers a somewhat limited big-box experience that, in five decades, has remained much the same. With COVID-19 now disrupting that model, and changing the way consumers pursue fitness, it’s time for the grocery sector to shake up the routine.

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RE-TAIL: EXPANDING THE POSSIBILITIES FOR PETS

More people are owning pets, and more owners are treating them like members of the family. This growing trend is an ideal opportunity for grocery retailers to cater to an expanding consumer segment that would welcome the one-stop convenience of covering off all their pet supplies—with some added perks—in the same place they buy their groceries.

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TAKING IT OFFLINE: LOOKING BEYOND DIGITAL TO REBUILD CONSUMER TRUST

While digital has proven a communication lifesaver in recent months for brands and consumers alike, its overuse has been shown to erode customer trust, as Canada’s financial institutions are finding out. Now is the time for them to fill this void and bridge the divide that is leaving some customers feeling disconnected.

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THE SECRET TO OUR SANITY IS WAITING IN OUR PARKS

Winter is here—and with it comes the need for distancing and isolation as COVID-19 continues to wear on. But with a little imagination and innovation, brands can create engaging, socially distanced events that bring consumers together safely while generating revenue.
In Perennial | DCM’s 2021 Brand Outlook video, Chief Brand Officer Kevin Lund shares our take on the important shift brands must make to succeed in the coming year, and offers three filters for evaluating success.

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The PERENNIAL | DCM 2021 BRAND LEADERSHIP OUTLOOK

Over the past year, many brands rose to the challenge to stay connected to consumers and drive innovation through adversity. As we head into 2021 and continue adapting with the times, what comes next? How does your brand stay relevant amid ever-changing consumer behaviour?

In Perennial | DCM’s 2021 Brand Outlook video, Chief Brand Officer Kevin Lund shares our take on the important shift brands must make to succeed in the coming year, and offers three filters for evaluating success.

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THE PERENNIAL | DCM BRAND LEADERSHIP AWARDS

As a leader in retail consulting and design, Perennial | DCM has worked with great brands and leaders for over 30 years. In that time, we’ve seen them not only lead in the face of adversity, but use that adversity to drive positive change. With 2020 coming to a close, great brand leadership has never been more apparent—so we’re celebrating it: Introducing the Perennial | DCM Brand Leadership Awards. Chief Brand Officer Kevin Lund has the details in this latest video.

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OWNING THE DELIVERY CHANNEL

In our latest Perennial Perspective video, DCM’s Chief Brand Officer Kevin Lund looks at a solution for reclaiming brand relevance among food-service businesses in the delivery channel. While delivery apps are now a revenue mainstay in the industry, they have made restaurants beholden to a business model that works against them. Delivery is undeniably convenient, but when executed by a third party, it disconnects customers from the restaurant brand. Restaurants need to consider the channel as part of their own business—not someone else’s.

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HOW THE GROCERY SECTOR CAN REVOLUTIONIZE YOUR HEALTHCARE EXPERIENCE

Today the healthcare experience takes place across a variety of touchpoints, with the patient bearing the responsibility of connecting the dots. The opportunity to unify that experience, under a single brand, exists in the grocery channel. The retailer that delivers on this will achieve a new level of customer intimacy and loyalty, maximizing wallet-share potential.

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UNLOCKING THE POWER OF CPG: DIRECT TO CONSUMER IS THE KEY

Direct-to-consumer models have been an industry game-changer for CPG players, unlocking highly coveted access to individual, consumer-level data. But the model also brings with it the risk of mediocrity: simply creating an online catalogue of an in-store offering is not enough. Here’s how we believe CPG companies can use the model to achieve maximum value.

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CAN BRANDS THRIVE IN A WFH WORLD?

When the retail industry was virtually knocked off its feet (aka: disrupted) by the advent of e-commerce a dozen or so years ago, brands had two options: Adapt to this brave new online world, or be left behind by it.

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BRINGING CONVENIENCE TO CANNABIS

From initial annual sales forecasts of $5B to current projections of less than half that, the high hopes for legalized cannabis in Canada have not materialized. The answer lies in the convenience channel.

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WHAT WE ARE SEEING

News that matters from the ever-changing world of brands. Click below for our quick, insightful summary of each article.

What we are seeing

The pandemic has forced brands to pivot and reinvent their customer experience to ensure survival as they respond to reduced capacities and lockdowns. With a large focus invested in accelerating the digital experience to meet those needs, we see not only new opportunities to engage customers, but the need to ensure those investments continue to drive growth when the pandemic ends.

Yum brands, which generated $17B in digital sales, growing at 45% YOY, made their second technology acquisition of the month. TicTuk is a company out of Israel, that enables consumers to order food while on social media and messaging platforms. This combined with their earlier acquisition of Kvantum, who use AI for consumer insights and marketing performance analysis will help ensure continued growth in the channel as customers preferences evolve based on their experiences over the last year.

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What we are seeing

As consumers continue to shop online in greater volumes and greater frequencies, their expectation of that digital experience is changing. Consumers are looking for new ways to shop online, and more channels to access product through. We see a necessity for retailers to expand their e-commerce offer; considering how they might utilize social media platforms to transcend their traditional role as the builder of brand awareness, to serve a greater purpose with respect to the generation of revenue and growth.

Recently, there has been an evolution of commerce in social media with more and more retailers employing a click-to-buy philosophy. Social channels are becoming more attune to the data that they possess and the power and potential of that data. And, as people become more comfortable using these channels, and trust is developed in them, it stands to reason that they’ll also become more comfortable with direct conversions through social media. Thus, providing an additional communication touchpoint for retailers to control the dialogue and adding yet another, more approachable, channel for revenue generation.

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What we are seeing

Food waste continues to be a substantial problem worldwide, including in Canada. According to a Second Harvest report, almost 60 percent – or 35.5 million tonnes – of all food produced in Canada is lost or wasted every year. Consumers are becoming increasingly aware of the issue and are seeking ways to avoid excess by buying food close to its expiration date, consuming leftover meals, etc. We see an opportunity for retailers to play a role in the solution of food waste, and in doing so, create a positive halo with their consumers.

IKEA Canada’s latest move aligns with its goal to eliminate excess food. The home furnishings retailer launched “The ScrapsBook,” a new cookbook featuring recipes made with leftovers that could easily be discarded, such as banana peels or corn husks. The new cookbook, which is available in digital and physical formats, not only helps consumers minimize their environmental impact, but provides them with new meal inspiration.

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What we are seeing

With the rise of fintechs and neobanks, we are seeing a growing number of financial services – like estate planning – being delivered through fully digital channels, challenging the traditional models that have served consumers for generations. Consequently, more and more consumers can have their financial needs met on their terms, as new online products and services that are flexible, convenient and relatively inexpensive enter the market.

Toronto-based Willful, considered to be Canada’s top online estate planning platform, recently debuted in Quebec, launching a bilingual version of its platform in the province. Co-founder Erin Bury says the digital estate platform aims to make end-of-life-planning more simplified, accessible and affordable for clients. With 50,000 documents completed to date, the platform digitally produces wills for consumers at competitively priced rates. In the process, Willful eliminates the need for clients to make in-person appointments or coordinate with another person’s schedule – common points of friction in the traditional estate planning process.

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What we are seeing

Retailers everywhere are reducing their physical networks in favour of investing in digital operations and ecommerce. Lord & Taylor closed its stores and plans to emerge from bankruptcy as an online-only retailer. Disney is shutting 20 percent of its North American store network. The shift to digital is not just omnichannel, it’s omnipresent. Running counter to the trend, Toys R Us has announced plans for a physical retail revival. What we are seeing is a significant opportunity for the brand to redefine its customer experience strategy and create a new retail ecosystem that serves different consumer needs and occasions through a variety of formats.

After declaring bankruptcy in 2017 and liquidating stores the following year, Toys R Us – recently acquired by brand management company WHP Global under the umbrella of its parent company Tru Kids – will make a return to retail in the U.S. The company plans to open an undisclosed number of stores – potentially ranging from flagships to pop-ups and from airport locations to store-in-stores – prior to the 2021 holiday season to capitalize on the current momentum in toy sales.

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