Transcript:
Peter Crosby:
Welcome to Unpacking the Digital Shelf, where we explore brand manufacturing in the digital age.
Peter Crosby:
Hey, everyone. Peter Crosby here, the Digital Shelf Institute. The complexity of driving maximum profitability as an omnichannel brand is stunning. Sales or channel managers today are not just taking orders, they are owning a P&L for their piece of the business, and they need help. For many organizations, that is a revenue growth management function, or RGM. We brought back Jamie Dooley, from The Partnering Group, and his colleague Peter Leech, who is the Managing Director of Retail and Omnichannel Commerce at TPG, for part three of Profitability Month to do a deep dive on this function and some case studies on how it's driving meaningful cross-functional alignment and business shifts towards sustainable maximized profitability. So Peter Leech, welcome to the DSI podcast. And Jamie, welcome back to the DSI podcast for part two of our Profitability series with TPG. Thank you so much for investing in the DSI community this way.
Peter Leech:
It's our pleasure.
Jamie Dooley:
Thanks for having me back, Peter. I'm 70% sure I'm not wearing the same thing I was wearing the first time, but hopefully you can edit it if it's the same thing.
Peter Crosby:
Well, luckily, it's an audio podcast.
Jamie Dooley:
OK.
Peter Leech:
This is part two Electric Boogaloo, right?
Peter Crosby:
Of course.
Peter Leech:
For those of you who have eighties references that you can draw upon.
Peter Crosby:
I'm sure I can feel the reverberations out in the audience.
Peter Leech:
There you go.
Peter Crosby:
But today's topic, revenue growth management, is super cool, super excited to dig into it because RGM is a very important function in organizations because it controls a lot of the elements of the product that gets sold online. And so instead of me trying to define it and butcher it, I thought I would let you do that. So Peter Leech, how would you define RGM?
Peter Leech:
Well, revenue growth management or rev-man or strategic revenue growth management, it comes under lots of flavors and names, but it's definitely evolved over the years. We've had the blessing and the opportunity to work with many CPG firms in terms of setting up the function and capabilities. And they do get scoped in slightly different ways and with slightly different ambitions. But at their core, there are sort of three major components that these teams typically try to undertake and drive real financial wins around.
One is price optimization, which is the constant auditing of commodity price and inflationary impacts, competitive pressures in terms of where competitors are taking pricing and sort of game theory around that and impact from what retailers were asking for in terms of pricing or willingness to take price or not accept price points as they need to flow through the system. So that whole price piece is crucial and it's tied to a lot of data science around price elasticity, as you might imagine. So what is that optimal price where you're getting that sweet spot between volume and margin?
The second bucket is, broadly speaking, has been traditionally called trade optimization or promotion optimization, which is definitely connected to price. And that's why we recommend that people do that work side by side and typically in the same structure because there's interplay between the two. As you change price, you need to rethink your trade and promotional opportunities. The core, I guess, essence of the science behind that is typically price, promotion, post-analysis, looking at a quarter or a full year's worth of promotions, every frequent endeavor with your annual planning or your account planning. Just look at what's working, what's driving incrementality for you as a supplier, what's driving ROI for you as a supplier in terms of price points, depth frequency, which brands to promote and not promote, how competitors are promoting. So that's been a long-standing piece of work. And it's tied to tools like TPO, TPX, trade promotion management, trade promotion optimization tools and software that have really spread across the industry.
And then the last bucket is really, broadly speaking, price pack architecture and assortment portfolio optimization. Really looking at what's the right price and pack, and even looking at different ingredient optimization to tune in profitability and optimize the revenues coming out. And PPA also deals a lot with how do you set your channel strategy for which packs or prices are you going to have in different players in the market? And that's gotten more complex with Amazon and Costco and dollar stores and just the multiple variants of different value plays in the market. So these RGM teams have become really essential drivers of not just, I mean, I think they started off as analytic and consultative support, and I think we're seeing now the leaders really moving them forward into a real seat at the table, often driving governance over requested changes in pack sizes or requested launches of new assortments, placement of those assortments, price pack architecture, trade requests for additional trade funds or requests to break the rules on promotion structures. Those are often really guided and driven by that crucial RGM team. So growing in importance.
Peter Crosby:
So I would imagine where it sits in the org then matters because if they're sort of, I don't want to put it this way, but I will, sticking their nose in to sort of go to market. Where do these functions often sit and how does that relationship work with sort of the folks on the ground in this?
Peter Leech:
Yeah, so it often reports within the sales organization, typically pretty high up. So reporting to a senior sales executive leadership role. And that's the most common execution and there's a lot of reason why it works. But some companies seek the objectivity, the further objectivity and laser focus that comes from having the team report up through finance or through COO operations level. Just so that they're somewhat extracted from and objective to all the whims and changes that drive sales and the sales culture. And so we've seen it work both ways. Definitely, it's probably a little bit more of an aggressive stance to place it in finance, but both work. And yeah, I think that that's a big choice.
Peter Crosby:
And so when you think about RGM as it's evolving now, are you seeing other areas of commercial investment that they're starting to put their energies and focus into?
Peter Leech:
Yeah, for sure. I mean, I think you're starting to see different language, like holistic commercial investment or total customer investment, total customer investment optimization,. And really beginning to look at the total enterprise commercially or precursor to that, looking at total P&L for a customer, a customer P&L. Which would be, optimally, an omnichannel customer P&L and then split out between the store based and the e-com based P&L. And really sweating those costs to ask the question, there's only a certain amount of margin to be shared with the retailer and invested in the retailer, and the net profit output has to be X. So what needs to be, what are the puts and takes we need to make, whether it be from trade, pricing or even supply chain components, cost to serve components or retail digital media, which has become the real, I think, new pain point.
Additionally, some retailers, like Tesco and others in the US, beginning to apply, I'd say fees, cost fees to their e-com business, asking for a certain amount of cents per unit sold through e-com in their business to help defray their costs. All these things optimally are managed within a holistic customer and commercial P&L that allows you the visibility as a manager out in the field to take action and tune your business. So that's where it's headed.
Lauren:
And Peter, when we think about price, it's a popular topic right now due to inflation and a lot of brands are increasing price, and RGM plays a huge role in kind of identifying competition and what's happening in the market. What is the process for RGM to evaluate those changes and then communicate it back into the organization through the sales team, the marketing team, supply chain, just cross-functionally?
Peter Leech:
Well, there's typically an ongoing cadence that's tied to the annual business planning process of the manufacturer and the account planning process, JBP process. But frequent and periodic reviews are done by these RGM teams. So cost input, price changes, changes in demands from the retailer, changes in pricing that's been telegraphed in the market by the suppliers through intel or insights they've gotten about recent price changes. And they're constantly modeling different scenarios to understand which of the choices they need to make and where they think their competitors are going to move. And that's communicated from the RGM team typically to brand management in terms of core pricing. And then brand management would deploy with counsel to the sales teams, with the sales teams, and often sort of a commercial leadership team is huddling around these decisions, a pricing forum if you will, to deploy a common and agreed to decision on a price change, price increase or decrease. And then that's deployed through the field and through broad communication.
Lauren:
Has there been, oh, sorry. Go ahead, Jamie.
Jamie Dooley:
Lauren, I was just going to add that we're coming off of a year in 2022, where the RGM team and finance teams were probably busier than they could have ever been with price changes. I talked to so many brands where normally you'll look for a price increase once a year and multiple brands were talking about them going to their key retailers and asking for price increases two, three, four times in one calendar year or one fiscal year.
Peter Crosby:
Wow. Yeah.
Jamie Dooley:
But yeah, I think that that's been a huge challenge for the RGM team and the finance teams to react, figure out what is the right price increase, and then also work with the commercial teams to actually get those accepted and implemented with the retailers.
Lauren:
Well, that was going to be my comment, Jamie, that I was going to mention is. I feel like there's been an evolution of RGM, especially with the wake of e-commerce being really a prominent channel and selling channel for the brands. Because now you have to look so specifically at each of the different retailers because they're just so different than maybe a traditional brick and mortar approach where you could have more of a broad brushstroke strategy. Would you say that's true and now it's just much more specific and it has to be looked at by each retailer and really nuanced?
Jamie Dooley:
Yes, I think, so there's two basic needs and asks that you're alluding to. One is there are a lot of brands that don't have a consistent customer P&L, they don't know how to consistently build one for Amazon versus Walmart or versus club. So they're working with the RGM team and the finance team, and it's a cross-functional approach to how do we build the right omnichannel P&L. And then the second is how do we look at it from a total retail perspective and look at should we be investing more in growth with customer X because they're 30% less profitable than all of our other omnichannel customers? So one is building it and building it correctly. Second is really optimizing it and looking at from a portfolio perspective, how do we want to strategically approach our top 10 retail customers and then in general, how do we look at omnichannel and e-commerce as these new channels and new retailers continue to grow?
Peter Crosby:
Jamie, I was just going to say one of the things that really comes out to me here and has through a lot of the other conversations we've been having is that need to be looking at executing in omnichannel thinking because often there are things that can happen in store that negatively impact e-commerce or e-commerce could be contributing. And often those things aren't brought together into one view to think what's going to lift the business the most, as opposed to lift in-store the most or e-commerce the most and then not end up with the end result that would be your biggest get. So does that resonate, does that feel about right, that it's driving some of those better behaviors in omnichannel practice?
Jamie Dooley:
Is it driving better behaviors? I think it's driving the aspiration for better behaviors.
Peter Crosby:
You got to start somewhere.
Jamie Dooley:
Exactly, exactly. We're in 2023, and I think the majority of the brands we're working with have still not figured out how do we approach shipments? How do we measure and allocate shipments for omnichannel that a large portion, depending on the category of e-commerce sales, are being fulfilled by that shared inventory in store? So how do we approach forecasting that? How do we apply that to a P&L? How do we attribute digital advertising and marketing that clearly has an impact on brick and mortar and brand, not just on e-commerce? So there are a lot of levers that I think brands are still struggling to figure out how to allocate correctly for a true omnichannel P&L.
So to use a specific example, Amazon. Amazon marketing for years, I think, some of our best in class brands have looked at it and said the Amazon marketing budget is not just an Amazon budget, it doesn't just belong in an Amazon customer P&L. There is impact on other retailers and our D2C business. So how do we allocate that so that it's not just hitting one P&L, but it's truly being measured across multiple channels and retailers.
Peter Crosby:
So let's dig into Amazon, Jamie, since you brought it up. How does RGM analyze that business and how would they engage with the organization around it?
Jamie Dooley:
Yeah, so I think there's probably four examples I've used, and Peter alluded to the first one, which is just the annual operating planning and just building annual target, annual budget, the integrated business planning process where the RGM team, like Peter said, is sitting at the table. They're one of the key decision makers along with finance and the key members of the commercial team for looking at not only sales targets but profitability. And the best brands we work with, their RGM teams are working from a portfolio perspective, and they're not just focused on, "This customer is our biggest customer, what are we going to do with them first?" It's what's the impact on total retail? And so that's the first. Is more just at the annual and integrated business planning level.
There's also the assortment piece that Peter talked about, and I think we've seen best in class brands using the RGM team in consort with finance, in consort with commercial team leaders, almost as a governing board. Let me paint two different pictures of two different types of brands, and these are real things. So one, the president comes back to the team and says, "Hey guys, I was at the JVP and we just gave five exclusive items to this retailer who, by the way, only does $10 million a year in shipments and good luck." We also gave them them millions of dollars in trade and they did it on the fly, and then you have to go back and figure it out afterwards.
The second picture I'll paint is a more regimented approach to portfolio management in particular, where there's a governance of it that looks at the total retail market and says, "OK, we're going to give this item to retailer X. That's going to have an impact on these other five retailers. How are we approaching that?" And before we make a decision on whether we're going to give this club retailer or this pure play retailer or this omnichannel retailer an exclusive item. Or we decide which retailers we're going to launch an item with first that there's a discussion that's very data driven and it's thinking through what's the impact on sales and what's the impact on profitability and what are our goals for this item and for this portfolio of items both online and in store. So assortment is the second piece.
The third is price. And I think as Peter alluded to there that it's price optimization where I see probably half the brands we work with. So we have probably about 250 global clients that we work with from our e-commerce practice to our RGM practices. I'd say about half of them don't really have a sense of what is the right price. They have MAP, or minimum advertised pricing programs. They have some sense of an MSRP, but do they truly know elasticity? Do they truly know what's the optimal price and what's the impact of giving one cost to pure play retailer X versus a different cost to omnichannel retailer Y? So I think there's a price optimization piece, and part of that's MAP enforcement. If it's applicable, that the RGM team should play a very crucial part of. Not only in just measuring it, and measurement is really hard too. I mean, there's just so many different data inputs that come from online pricing. But also where do we want to go? And as a brand, obviously, it's difficult to dictate the price to the retailer. But the best in class ones know what the optimal price should be and they're doing a good job of managing their channel whether they have MAP or not.
And then the fourth I would say is just overall profitability. Looking at total customer profitability, building the customer P&Ls from an omnichannel perspective. And a lot of it, like we talked about, is measurement and correctly measuring all of the puts and intakes that are going to allow for a consistent work of profitability so that you can optimize it. That's probably the number one ask that we're getting from a lot of our omnichannel clients, both on the RGM side and on the e-commerce practice side, is help us look at profitability. Retailer X is 50% less profitable than the rest of our retail customers, which by the way, that's not a real number that they can quantify. They just think that it's 50% less profitable. Help us understand, should we grow with them more? How do we measure it? How do we have more of a consistent customer P&L that now includes more and more omnichannel, curbside pickup and delivery, in-store pickup and just other channels that are impacted by e-commerce.
Lauren:
And Jamie, how should, oh, sorry. Go ahead, Peter.
Peter Leech:
Well, I was just going to throw in there's also RGM-ish behaviors happening at Amazon and other retailers that are more tactical short term or real time in nature. For example, if we're going to promote a product online, are we going to also have an online coupon attached to that? Is it an online only coupon or is it in store as well? Does the combo of those two things live the same as if they'd be separate? Should we then also dial up or dial down retail digital media search investments at the same time? Should we not pay for placement in terms of search on the skew while it's in promotion or should we double down?
And this is really micro-tuning, but people like P&G have been quite public about creating real-time hands on keys, rapid response, even AI-driven, ML-driven models that are looking to say, "We can use the data fees we're getting from leaders like Amazon and Walmart and others to really do this. It's not science fiction, it is manageable." And some of it's really obvious too. It's like, you know, you probably could figure out through some quick testing, the answers to some of those questions and stop doing wasteful double spends or dial it up where you need it. So just thought I'd throw that in there as well.
Peter Crosby:
Yeah.
Lauren:
I think it's a great point. And Jamie, I'm just going to quickly say that I think, and I say this a lot on the podcast, so a lot of people are going to hear me repeat this, but that can only happen if you have cross-functional alignment. The RGM team is talking to the marketing team, to the sales team, to the supply chain team. Retail media is plugged into that conversation because you can't quickly pivot to be able to make those changes if you're not all on the same page. And so just want to make that call out because in the world that we live in the industry and the state of the industry right now, that is just entry level. You have to be able to do that to be successful. And sorry, Jamie, go ahead.
Jamie Dooley:
And I agree. So it's entry level and then I think a lot of people, a lot of brands haven't hit the entry level yet. I'm thinking about one of the brands that I worked with where it was one of the best RGM teams that I've seen. Before we even started working with them, to your point, they were embedded with the digital shopper marketing team. They were embedded with all of promotions and they knew what the guardrails should be. So what's the CPC in this category? What's the cost per incremental unit that we don't want to go above this cost per click because if it stops being profitable for this category versus that category? That's somewhat rare. It's best in class, but it's rare.
And I think to your point, an RGM team can't work in a vacuum. They need data and they need to be on the same page with all of the different cross-functional teams that are executing promotions, coupons, digital advertising, even in-store advertising, all of that. Those guardrails that an RGM team can be instrumental in setting up and holding customer teams to requires a significant amount of data sharing. And it evolves. It continues to evolve, obviously.
Lauren:
Yeah, I just remember if I put my old hat on for a second on the brand side, the RGM team was instrumental into how we thought about e-commerce assortment. Right? They have all the data, they understand it to the Nth degree of what's happening on Amazon and what's happening on Walmart. And Jamie, when we talk about e-commerce specific assortment management, let's talk about some of the models. I get super passionate about this because it was such an unlock for us when we looked into this. But what are some of the models that you're seeing teams implement around assortment in partnership with the RGM team?
Jamie Dooley:
Yeah. So I think one of the best models I can think of is there is a separate governance board where it's not necessarily just the RGM team, but the RGM team is definitely one of the decision makers at the table along with finance, along with commercial team members. So I'll use a case study where I think, well, one was the RGM team had what they call, it was a governance board, where every item online or in store, before it was authorized to be given to retailer X, it had a go and present to this governance board. So obviously, with product launches, that's already decided that's part of the planning process.
Which again, this governance board is part of the planning for the launch of a suite of items. But if retailer X decides, "I want to give this exclusive SKU," either it's an online exclusive or an in-store exclusive or both, "to retailer X," they have to go in front of the governance board, show a business plan. And I think it's a guardrail where the governance board's wearing the company hat. And they're looking at it from a data driven perspective and saying, "OK, if we give this item to retailer X in the southeast, what is that going to do to our biggest online retailer in the Pacific Northwest? And what kind of price matching is going to happen? Is this going to lead to future cost concessions that need to be happening?"
Because that's the case study I'll call out, where we saw this very large multi-billion dollar brand where the head of sales for a relatively smaller regional club retailer, they gave an exclusive club pack item to that smaller retailer and it had epic impact on the entire retail market as a whole, where that brand ended up needing to give millions of dollars of cost concessions and additional trade to another pure play retailer and another larger club retailer. Because the impact online, once that item got picked up in online marketplaces or was price matched, was significant. So I mean, that was an example where that brand didn't have an RGM team and they didn't have any governance body and that ended up being a lot of ad hoc pricing and assortment decisions that were having an impact on them and they had to go figure it out later.
Peter Leech:
No. I was going to throw in there, there's another wrinkle that RGM has expanded their thinking into overtime with Amazon's institution of the crap list. I hate to use the word. It became quite apparent to anyone who was leading the charge in e-commerce that you not only need to know obviously the profitability of your own SKUs to your business, but the profitability of your SKUs through the Amazon P&L. And model that and think forward about which of your SKUs are naturally built well for e-commerce, built well for e-commerce profitability, ship well of large pack size, all the natural componentry, and which ones will need to be evolved.
As you're in the new product development process itself, thinking about that, how are we going to bring this skew to life from its inception in a way that will make it profitable and a stable entry into the full omnichannel ecosystem, including the pure plays that have different pick, pack and ship operational challenges. So I think that that is still not baked into most companies' innovation approach, is to really think omnichannel from the birth of the SKU and even think about omnichannel from the birth of your MPD,. So could your new product development, and obviously, Proctor, I hate to rail on about them, but they've done some great stuff in terms of Tide Pods. Or Nespresso, one of the world's greatest case studies of a born for e-commerce business model with replenishment pods and a wholly direct owned channel for a majority of their time, now just expanding to other channels. So just really, it can be taken to such a great distance if you see it that way.
Lauren:
I think that's such a great point. And the models that we're talking about with Jamie right now help you identify that. And I think something that sometimes digital leaders are uncomfortable with is that not every SKU should be sold online. Not every SKU is going to be profitable online. And if it's not profitable on its own, let's talk about how it can be profitable. Is it a gift pack? Is it some sort of bundle? Is there some sort of combination? And then Peter, to your point, how can you take that learning, bring it to your R&D team and make sure that that doesn't happen again, or pivot and change because you've learned that this item is selling more than another?
So I just love that comment so much because it brings everything full circle where you're really talking about from, "Hey, I have this amazing idea about a product. I'm thinking about how it will ship, what the price will be, how much does it weigh? How am I going to ship it if it has a pump or it has whatever kind of packaging?" So I just really love that point because it goes into e-commerce is in every fiber of the business, and RGM can really kind of help to tie a lot of those pieces together.
Jamie Dooley:
Yeah, I agree, Lauren. I think that there are three different types of brands here. So there's the brands that are behind, that aren't even measuring omnichannel profitability at the item level. They might have customer P&Ls where they have a sense of what the average gross margin is. They have some sense of inputs like chargebacks and digital advertising. But they're not truly measuring down to the item level what the profitability is by customer. Those are the brands that are behind. The ones that are good are the ones that, like Peter said, from out of the gate when the item's launched, they have a very, very accurate understanding and measurement of profitability from the item level all the way up to what it looks like for each customer where they are truly and accurately measuring and consistently measuring all the different intakes that are going to impact that customer's profitability.
The great ones that you implied are the ones that don't just measure it, but they're optimizing it. And I see very few brands, we see very few brands that are doing more than measuring because they're just struggling to measure it. And then are the brands out there, are they leaders in there? Are they looking at things like packaging and saying where this can be more profitable? Ask any member of the finance team or supply chain team and ask them what's the dimensional weight that's going to save us 30% on drop ship? They probably couldn't tell you. It would take them a month to figure it out.
Whereas the leading brands are already skating to where the puck's going to be and they're saying, "All right, well, if we adjust the height of this packaging, if we go to [inaudible 00:31:14]," and it's not just an Amazon thing either, it's for any retailer, if they're drop shipping 20% of their assortment, what's going to be the dimensional way? What can we do to improve profitability from a supply chain and operations standpoint? Thinking about, all right, well, if 90% of our sales for this omnichannel retailer are getting picked from the shelves, what if we make a packaging 30% smaller so we can fit an extra unit on the shelf? This is next level thinking for most brands, but the leaders that we're working with, they're doing it. They're thinking about not only just measuring profitability, but optimizing it through a huge amount of data analysis and then working, like you said, in consort with the cross-functional teams to actually go to the supply chain and operations team and say, "Hey, this is what we should be doing."
Lauren:
Jamie, for those brands that maybe you were saying don't necessarily have this thought processing yet or maybe are thinking about it, what's the best first step? Is it coming up with some sort of assortment kind of plan that we're talking about, whether it's looking at your SKUs and seeing if it's unprofitable or profitable, having the governance board, what's the best first step to just kind of start?
Jamie Dooley:
Yeah, you mean besides hiring a world-class management consulting firm?
Lauren:
Yes, of course. Obviously, that's number one. Well done.
Peter Crosby:
I sense an edit coming in.
Peter Leech:
That might not make the cutting floor.
Jamie Dooley:
Fair enough. Yeah, I think I'll let Peter jump in here as well. But yeah, I think part of it is just setting up the customer P&L stuff. That's probably the number one ask. And that requires a significant amount of data and analysis, some of these data points are really hard. If you have a drop ship program, getting your shipping costs, for example, can take a month and a half to get back from all of your carriers. And then how do you allocate that? So I think data is a really big part of it that's underestimated to building the customer P&L so that you have a consistent viewpoint of profitability. I think that's your foundation though, is truly building an accurate omnichannel P&L for your key retail customers that then you can optimize.
Lauren:
Easier said than done.
Peter Leech:
Yeah. I think I'd throw in there the custom pack arena is just such a important area to dig into. First and foremost, if companies are either not performing in it because they're afraid of impacts against Costco or others, or they have maybe launched a bunch of SKUs and they're questioning the true profitability or how to make that portfolio move towards profitability, that's often a sweet spot to look at. And then from a CEO level, sort of top leadership team level, really taking a look at what does RGM mean in your business? Where are you in the overarching development of that functionality? And is it time for you to expand quite publicly and directly and boldly the remit of that team into some of these holistic areas that we talked about at the beginning?
Yes, we want them to be putting their nose and analytic horsepower into the balance of retail digital media spend versus shopper, traditional shopper versus trade versus above the line. Yes, that's your remit. It's a new world. It's a wider RGM remit. Yes, we want orderly total assortment portfolio reviews that really do ask the question, are there certain SKUs that shouldn't be sold online because they're not profitable to the retailer and then that blows back to us anyways. Or frankly, they're just not omnichannel profitable for us and it's time to evolve those SKUs or drop them. Those are some really hot spaces. And so that'd be my focus for first shots.
Peter Crosby:
Well, gentlemen, we're so grateful for you coming on to discuss this and to finally have an intelligent Peter on the podcast is really a joy. And I appreciate you redeeming the first name by coming on here, peter Leach, very grateful. Jamie Dooley, really appreciative. You know, when we were talking before we started recording, Peter is a marathon runner and it really does make me feel like this process we're talking about and the drive towards real omnichannel profitability is a marathon. It's not something you can do overnight. It might take new functions, it might take new governance, but in the long run or even in the mid-run, it just seems like it's a really critical set of capabilities to have on tap if the company can pull it together with potentially help from others. So thank you. Yeah, go ahead, Peter.
Peter Leech:
Thank you. I love that marathon approach. And just on the positive side, just to remind us as an industry, we've run these marathons before. I mean, we had to ingest the massive wave of change around the club channel and the dollar store channel was another massive wave of change. You got hard discounters, Aldi and Lidl, come in and they'd throw new dimensions into our planning and our go-to market. And we have been such a resilient, data driven, just smart, scientific industry, and I just know that we'll find a way to absorb this, frankly, more massive change in terms of total profit impact that's flowing through retailers and the suppliers. But to close it off, it is a marathon, but we've run these before and we can do it again.
Peter Crosby:
That's a wonderful way to close, and I appreciate that. I want to say anyone that's interested, both Peter Leech, L-E-E-C-H, and Jamie Dooley are on LinkedIn. And then of course, their site is thepartneringgroup.com, and we shorten it to TPG. So again, thank you both for being on the podcast. We appreciate it. And Jamie, twice.
Jamie Dooley:
Thank you for having me Back both times. I really appreciate it.
Lauren:
Thank you both.
Peter Leech:
Thank you guys. Appreciate it.
Jamie Dooley:
Thanks everyone.
Peter Crosby:
Thanks again to the smart Peter and Jamie for joining us. Get all the episodes from Profitability Month by going over to digitalshelfinstitute.org/profitability-month and become a member while you're there. What the heck? Thanks for being part of our community.
