aWe 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.
Panel Narrator, Steve Frenda,
Managing Director of Path to Purchase, EnsembleIQ Company:
Producing displays, as Duracell certainly knows, is an expensive endeavor. How should you best examine the financial viability of producing displays and in-store messaging?
Panelist, Brandon Barr: Director of Retail Marketing and Insights for Duracell:
I think we treat in-store displays just like any other marketing vehicle. You're going to do a marketing mix analysis on it, and it's going to drive results. We know that when we get compliance, that stores with secondary displays drive up to 24% more sales than stores without.
For us, it really pays back. The key is being able to get that compliance. Being able to measure and analyze real time data that's actionable, enabling us to drive compliance, is crucial. It’s another lever that you pull out of your marketing tool bag. But it's like anything else.
You can't just throw money at it.
It's got to perform.
"Context is really important. Display execution is extremely important. Today if you look at a warehouse delivered item, it's typical that a mandatory display will, (across the industry), get about 35% compliance. We are leaving a lot of opportunity on the table."...Steve Frenda
Excerpts from our upcoming eBook:
"Can SXSW Save Retail?"
Erik McMillan, March 12, 2017
"Shelfbucks is all about generating new data in retail.
The topic here is, "Can SXSW Save Retail?"
Brands spend billions of dollars marketing their products in stores. They ship it into the supply chain, but they don't get any data on their merchandising. Then once the merchandising is in the store, hopefully it sells and they do it again next time with little learnings here and there.
Shelfbucks has a small, low cost sensor that goes into that merchandising display. When it's shipped in the supply chain it chirps data a few times a day. Now CPG's can see data on every piece of merchandising that ships into their stores. CPGs and retailers can see what promotional merchandise is currently shipping. They can see what's happening with their promotions every single day, every single store, and how much money they're making off each display. That's what Shelfbucks is doing.
We generated a lot of data last year in about 300 stores. Historically CPGs have sent people into stores to take pictures of their displays to make sure they are set up correctly. With very little data being generated from that market segment. Shelfbucks generated over 20 million pieces of data in less than six months across 300 stores with 12 CPGs. We're looking to create more than 5 billion pieces of data in 2018. Just from this place that didn't even have data before. It's pretty exciting."...Erik McMillan
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 email@example.com
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