Chapter Five (2:08)
The old retail adage of stack it high and let it fly has way outlived its usefulness. Execution and effectiveness with a shopper focus is key. Give me your comments on emerging capabilities in this important area.
Having the data or the ability to measure ROI on merchandising has been the holy grail of the industry and hard to get at.
Today, beyond the use of third parties and field agents, the ability to see real time, on a given day, a specific store, whether or not your merchandising has been executed is extremely valuable, both to the brands and the retailers we work with.
I just think you can understand your displays better.
Instead of stacking high and sending them in and loading the retailer's inventory, we can be smart about what we put on the displays and making sure it's the right SKUs, the right mixes so that they sell through the store appropriately and the retailer is not sitting with a lot of inventory. You are not waiting for him to move through product so that you can ship more displays in the future.
You can get the size right, the mix right and the SKUs right.
This is crucial for both the brand and the retailer so no one is sitting on excess product and being penalized for just making one big display and sending it to the store.
There's a second component to that as well…engagement.
The opportunity to engage the shopper with your merchandising.
You can utilize technology, the ability to feed in real time; product education, specials, and promotions.
The ability to talk to that shopper, at the very moment that they're choosing a product, is key.
With technology today, we're able to do that.
“Stacking high and let it fly” is about 50 years old, back when the retailers would promote items at a loss. They would of course make it up with volume.
- In-store analytics. "For all the advances in retail analytics over the past decade, the store has largely remained a data black hole: even where retailers have detailed purchase data, they rarely know how shoppers shop the store. A number of startup companies are trying to bring cutting edge technologies to capture and analyze in-store traffic flows, shopping behavior, employee activity, and more...ShelfBucks offers a more specialized system, analyzing the performance of in-store merchandising displays as well as offering the opportunity for marketers to use beacons to deliver offers and other content to shoppers..."
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