Deloitte: CPG companies not keeping up with explosive growth of dollar channel
NEW YORK — Only 58% of consumer packaged goods executives view dollar stores as a strategic channel, according to Deloitte’s new "Dollar Store Strategies for National Brands" study. Deloitte advises that CPG companies may not be keeping pace with the explosive growth of the $56 billion dollar store industry, and should act now to maximize market share and profits.
In other survey highlights:
Three-quarters (75%) of CPG executives surveyed expect dollar stores to continue to expand their geographic presence, and 62% forecast sales at their company’s dollar channel to increase in the next three years; and
Only half (51%) of all CPG executives surveyed believe their companies have increased investment in sales capabilities related to the dollar channel over the last three years.
The top five operational challenges CPG companies surveyed face while dealing with the dollar channel include:
Supply chain, distribution and operations (29%);
Brand, product strategy and innovation (24%);
Channel conflicts (12%);
Margin management (12%); and
Pricing and trade promotions (12%).
Click here for the full report.
FDA regulation of mobile health apps: A prescription for growth?
WHAT IT MEANS AND WHY IT’S IMPORTANT — What if Moore’s law — meaning the number of transistors per square inch on integrated circuits would double every two years — applied to healthcare applications? That actually was all the talk earlier this year at the TedMed conference, at least according to a blog written by Dave Copeland, a well-vetted business and technology journalist. One of the disincentives to the kind of robust healthcare app development that would exemplify Moore’s law expressed by TedMed attendees was regulation, as in the lack of regulation would "discourage risk-taking and innovation."
(THE NEWS: Kaiser Health News: Legislation to be introduced to create new FDA office overseeing mobile health apps. For the full story, click here.)
So creating a new Food and Drug Administration division to regulate the development of mobile health apps might become the big boon in what has already become a big business.
The actual devices that will house those mobile health apps is increasing in penetration across all demographics. As of September 2012, 45% of American adults have a smartphone, according to statistics culled from Pew Internet and American Life Project. And half of U.S. adult cell phone owners now have apps on their phones.
According to Pew’s research, smartphones are particularly popular with young adults and those living in relatively higher income households; 66% of those ages 18 to 29 years own smartphones, and 68% of those living in households earning $75,000 also own them. And young adults tend to have higher-than-average levels of smartphone ownership regardless of income or educational attainment.
The future of how health care is delivered or monitored could be on the drawing board of an app developer even today. What do you think? How do you think an FDA commitment to regulating mobile health apps would impact the industry? Drop me a line at [email protected].
(To check out Copeland’s blog, click here.)
AccuDial introduces five APAP products featuring readily comprehensive weight-based dosing instructions
PALM BEACH GARDENS, Fla. — AccuDial Pharmaceutical earlier this year introduced five SKUs across its Children’s AccuDial Acetaminophen Oral Suspension, featuring one of the only weight-based dosing acetaminophen products with an interactive, rotating label. The single-ingredient products, indicated to help reduce fever in children, are timely for the coming cough-cold season. Children’s AccuDial Acetaminophen Oral Suspension will retail for a suggested $4.99 and is available in five flavors: grape, dye-free cherry, cherry, bubble gum and strawberry.
AccuDial is set apart by its easy-to-use dosing system that helps parents consistently identify the proper dosing of acetaminophen. Parents dial their children’s weight in pounds and the label shows the most accurate dose of acetaminophen. This label technology takes the guess work out of dosing and helps reduce dosing errors.
In a recent study conducted by Concentric Research, 97% of parents who used AccuDial were confident they administered the correct amount of medication.