Chapter Eleven (2:26)
Interesting that you mention “the moment of truth”.
In 2005, Proctor introduced the term “first moment of truth and second moment of truth”, “when she chooses and when she uses”. That really was very effective for a long time for them.
About six years ago, they came out with generation two, and it was “shelf back” or "store back". It was a recommitment to making sure that it was all happening right in terms of the packaging, the off-shelf display, et cetera. It’s absolutely critical in today's environment.
Peter and I both worked at IRI together. Even to this day I look at reams and reams of data, effective ad, and price cut. Displays can move 10 times normal volume.
Getting that compliance is absolutely critical, and the fact of the matter is, we now have the tools within our reach to start to move this. To get another generation of compliance and personalization. As Peter described, it's a terrific opportunity.
Personalization is critically important as you see a lot of retailers are continuing to reduce the size of their circular if not completely eliminating it. I can't tell you when that will happen, but I know of a couple major retailers that took as many as 48 pages out of their circular tab, just in this year alone. What that means is, it's going to be more difficult for manufacturers to get the attention of customers through displays. The displays that remain have to be the very best because that valuable retail space and that printed space on the circular are a dwindling resource.
That’s a great point about the circulars, too, going on a diet, and you used that in a presentation once I saw from you, Peter. And that is for those, to give you context, at the high water mark, going back only five or six years, well, CVS and Walgreens produced about 60 million circulars a week. That's 60 million a week. It's this stunning statistic. And again, we have to move, we have to move past that as we make the store a destination. With the capabilities of mobile, it's going to be a very exciting time. So with that, I'd really like to thank our panel. Jill, Peter, Brad, Frank, thank you very much for a wonderful presentation.
View Shelfbucks Related 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