Registration for Shopper Tech's 3rd Annual LEAD (Loyalty-Engagement-Analytics-Digital applications) Marketing Conference in Chicago, Sept. 19-21 is now open, and is complimentary for qualified retailers and manufacturers. Hear speakers from Google, Ahold, dunnhumby, J&J, Bi-Lo, Coca Cola, Supervalu & more. Click here for more information.
What Is the Best Way to Improve Shopper Promotions?
Past promotions may no longer incent today's mobile-reliant, social-networking shopper. Trends in health, cuisine and even childcare come and go. What appealed to "foodies" in 2009 may be pass� in 2011. Shopper data bears this out.
Double coupons still have their place in the aisle and in the wallet. But they are not the best way to reach today's smart, time-strained shopper. So what is?Simply the two-for-one force of retailers and CPG companies partnering to understand the whole of her needs that delivers the most effective campaigns.
But shared ideas can only be arrived at with shared data - a critical element to true collaboration.
To reach today's desirable shopper, trading partners must move beyond promotions as one-time specials, and think of campaigns as solutions to shopper demands...
Retailers - and their manufacturing partners - face many challenges.What is the right assortment at the shelf?How much space should be allocated to store brands?How should the category be arranged?What promotions are most effective?
There are many ways to gain information to answer these questions. There are the more traditional approaches such as analyzing past sales data, conducting shopper surveys, or participating in shop-alongs. There are newer tools such as mining frequent shopper data or conducting biometric studies.While they all offer valuable insights, none of them is definitive.Looking at past sales or frequent shopper data tells you what worked in the past, but does not allow you to evaluate new and different programs.Surveys tell you about attitudes, but not behavior.What's needed is a tool to measure behavior in the present to better predict what will happen in the future.
Virtual shopping research is just the tool.It is essentially the same as doing an in-store test, without the time, expense and hassle...
To develop metrics for what it calls "Share of Shopper," VideoMining Corporation has launched a year-long shopper behavior project called the Center Store MegaStudy.
The project aims to capture 10 million shopping trips. Ultimately, the study will include four or five leading grocery retailers and eight to ten banners, across 15 geographically dispersed U.S. markets.
VideoMining's technology collects the data via a network of cameras throughout the store, producing a feet-on-the floor tracking of each shopper. The network also captures every "Do I buy or don't I buy?" moment, measures them in seconds, and then relates them to sales and conversion...
What Is the Best Way to Improve Shopper Promotions?
Five Rules for Virtual Shopping Research
VideoMining Launches Center Store MegaStudy
