Source: NielsenWire.com

Delivering the retail keynote at Nielsen’s Consumer 360 conference this afternoon, Sam’s Club President and CEO Brian Cornell said that retailing today can be a “daunting task” and understanding what is important to your consumers and what value means to them is key to retailing success in the “new normal.”

Cornell noted that while everything around us is changing, we’re also dealing with the tough realities of the current economy. Consumers’ expectations have changed dramatically and they have recognized the need to change their behavior.

“For the first time in my 20-year CPG career, consumers have aligned their attitudes and actions. They are absolutely harmonized,” he said.

Cornell outlined two major consumer trends important to retailing success today, the first being a shifting consumer landscape, including aging baby boomers and young multicultural families. Understanding today’s consumer requires the realization that dad is just as important as mom in the shopper decision trip, that many consumers are likely thinking about making healthy lifestyle adjustments and that consumers are connected. A big part of today’s consumer’s recreation is tied to a keyboard or smartphone.

The second major consumer trend retailers are thinking about a lot today is the return to basics, or home economics.

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