We hope you were lucky enought to attend the Shelfbuck sponsored panel discussion at NRF 2017. Our industry leaders had much to say about the future of retail. Whether or not you attended, here are the highlights from the discussion.
Chapter Six (2:25) Video eBook
Panel Narrator, Steve Frenda,
Managing Director of Path to Purchase, EnsembleIQ Company:
Can you talk about the importance of displays in building brand equity? From a retailer and brand side?
Peter Bond: Managing Partner of Bond Unlimited
This new technology, having been on the brand side as well, allows brands, (either a national manufacturer or a store brand for a retailer), to reach beyond the shelf and communicate with customers…at the moment of truth.
The display allows you to communicate content that's critical to drive behavior and purchase.
A lot of people respond well to price.
The right price may get them to pick it up, but a lot of them are driven by content, information, and experience.
Our ability to include that on a display is critically important.
Particularly around new product innovation where no one's ever seen it before, they have no familiarity with the product.
The only way you're going to get a customer to put it into their basket is to give them a little bit more knowledge about what that product is, what its benefits are, what its use is.
That's what displays offer…that real estate just doesn't exist on shelf.
That's a great point, Peter. It's breaking through the clutter.
How do you get new items sold? Related item sales? Those types of things.
Mobile continues to mature, but it's still not totally fulfilling the promise of where we need it to be.
From a branding perspective, my category is 45% impulse. The secondary display serves as a point of disruption for me. It helps me intercept that consumer while in-store.
Once I've intercepted them, I have a chance to give them a really concise reason to buy my product.
I can't necessarily do with the main shelf.
It enables me to, not only reach more consumers, but also reinforce my brand and drive equity with claims at the point of disruption.
The new sensor technology that's coming out in the future will be able to push messages to their phones.
As someone walks by, we can start developing ways to push them a relevant coupon as they walk by the display in-store and start engaging.
Or, push them a message that's relevant to them based on their phone's browser history.
Things like that will start to have more one-on-one conversations with consumers versus just trying to reach the masses broadly.
"In the digital age, consumers are always shopping around. New research shows that hooking them early is the strongest path to growth...Since 2009, McKinsey has studied the emergence of consumer decision journeys (CDJs)—the often irregular paths consumers take as they move from brand awareness through to purchase and loyalty—as a critical lever to driving top-line growth..." Article - McKinsey Quarterly -
By David Court, Dave Elzinga, Bo Finneman, and Jesko Perrey
View Related Shelfbucks Videos:
NRF 2017 Panel Speakers:
Brandon Barr: Director of Retail Marketing and Insights for Duracell
Peter Bond: Managing Partner of Bond Unlimited,
Jill Andersen: Director of Marketing for Menasha Packaging Company
Frank Krug: Director of Technology for TPN
For more information contact Will Phillips at 512-442-6818 or firstname.lastname@example.org