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Shopper Tech Update February 14, 2013 - Volume 4, Issue 3 |
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STI Social Media Groups | |
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Digital Solutions | |
 In-Store Marketing:
Three Critical Changes
You Can't Ignore
Almost half a century ago, Marshall McLuhan wrote that "the medium is the message," meaning that mediums influence how messages are perceived. Although a revolutionary in its day, that thought is still not fully understood, particularly in the realm of in-store marketing. With the growth of in-store interactive digital media, the platform is becoming more significant than the content it delivers.
"Interactive as a medium ends up sharing power to influence so that the brand can speak to the consumer, the consumer can speak to the brand, and the consumer can speak to other consumers," says Frank Beurskens, chief executive officer, ShoptoCook.
Legacy thinking is alive and well, with talk about applications, content and programs. However, this approach is a remnant of the past when people were looking for the "killer app" to succeed in the marketplace. It's not about the app anymore.
"This interactive channel, this medium is shifting how we relate to the consumer and, in turn, what our strategy should be...
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Analytics | |
How to Use Shopper Data for Better Store Layout
You've already invested in customer data collection, data management and formulating insights. Now it's time to start exploring the myriad ways to apply that valuable data to boost the bottom line. Tweaking store layout is one way to help earn maximum return on investment.
Historically, retailers have relied on a variety of methods, including customer surveys, geo-demographic information, sales dollars and sales velocity when it comes to determining the most efficient store layout. But those methods often fall short of their full potential. By augmenting those traditional approaches with customer-specific basket data, retailers can get a deeper look at the behavior of priority customers, and adapt store layout accordingly.
Customer information helps provide a better understanding of the lifestyles and life stages of a particular store's shoppers. It can be used to identify affinities between items or any types of patterns. Data can then be applied to a number of both promotional and physical re-merchandising scenarios that target a company's best customers.
Here are three ways to use customer data...
read entire story
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Category Management | |
A 'Matrix' View of Assortment
In fast-moving consumer goods, the art and science of merchandising requires an informed balance of interrelated decision processes. Microeconomics tells us that product sales rate will be related to price, albeit somewhat elastically. Space planning endeavors to allow sufficient quantities of each product to be stocked to meet shopper demand, without tying up excess capital. Assortment planning attempts to fit the most productive and satisfying mix of items into the space available. Inventory management balances the labor costs of replenishing shelves against in-stock levels.
There are other "levers" that figure into the process - from promotions, to new product introductions, to the depth and timing of markdowns, to the influence of competitors and even the weather. Taken collectively, these amount to a matrix of influencers on productivity and rates of sales...
read entire story
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STI News | |
Intelligent Clearing Network Joins
Shopper Technology Institute
The Shopper Technology Institute welcomes the Intelligent Clearing Network (ICN) as its most recent sponsoring member.
ICN is an innovative software-as-a-service (SaaS) company that electronically validates and clears paper and digital coupons and other incentives in real time at the point-of-sale in grocery, drug and mass merchant retailers. ICN's single connection to a retailer POS can help solve the problem of mis/malredemption and fraud for the coupon industry.
"We're pleased to have ICN as a sponsoring member," said John Karolefski, executive director of the institute. "The issue of coupon fraud is one that requires the attention of retailers and manufacturers. ICN has developed a solution that the industry needs to consider."
The Shopper Technology Institute is the only national trade organization focused on technologies and solutions that engage and motivate shoppers, analyze their behavior, and enable trading partners to improve their operations.
For more information about ICN, visit: www.icn-net.com.
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JUST PUBLISHED | |
Shopper Technology Institute Publishes Its First Book,
The Essentials of Shopper Technology
Shopper Technology consists of tactics and applications that engage and motivate shoppers, analyze their behavior, and enable trading partners to improve their operations. Retailers and consumer packaged goods (CPG) manufacturers are embracing these new solutions as technology becomes a true agent of change. The providers of these solutions have invested mightily in the future of this industry. Their sophisticated offerings are built on a foundation of thought leadership.
This book is all about sharing that information and insight. There are chapters that outline challenges facing merchants and marketers. Some chapters present the essentials of Shopper Technology, while others offer a deeper dive into these solutions and their implications. Because of Big Data, digital innovations, and an evolving path to purchase, the job of merchants and marketers often seems daunting. So consider this book as a way to cut through the clutter as technology roars on, competition heats up, and shoppers become more demanding. Coming to grips with technological change may be challenging, but it is the key to success.
Click here to read sample chapters and reviews, and view ordering information for the hardcover, paperback, and Kindle editions.
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