The 2020 Mid-Year Economic Update_long

Tip: Compete in New Markets by Leveraging Technology

Sophistication can fuel growth, even for smaller distributors.

Technology has made the world a smaller place, and in the new competitive landscape, distributor sophistication has become more important than size, according to Mike Bohannon, senior vice president of corporate strategic sourcing for Bunzl, in A Growing Competitive Threat.

"Technology enables a larger than normal geographic reach," he says.

Smaller distributors can reach a broader audience and become more efficient by using e-commerce. And using redistributors or creating collaborative partnerships will enable them to compete in markets they might not have been able to reach previously.

New technology paired with changing customer demand is also creating new options for minimizing capital investments – which provides new opportunities for companies that may not have had the cash flow to grow their delivery fleets to meet increased demand. 

Distributors that strategically leverage this technology will gain market share, while those that don't risk losing customers to the competition.

Read more about how to stay on top in the changing distribution landscape in A Growing Competitive Threat.

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