"It has to be a partnership. Getting more displays on the floor equals greater sales for both the brands & categories. Real time data is going to take a partnership between retailers and brands to make it drive the increased compliance"...Brandon Barr
..."The broader movement towards intelligent, integrated stores has been incubating for years."...ChainLink Research
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 Seven (2:48) of Video eBook
Panel Narrator, Steve Frenda,
Managing Director of Path to Purchase, EnsembleIQ Company:
"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.
I looked at the late '90s as a very important point. That was when the brands were moving away very aggressively from direct sales organizations and their own people in the store. Retailers were consolidating and abdicating some of their responsibility for execution.
There was this collision of these two forces.
During the 2000s, we didn't recover from that. Only now with the ability to utilize new and improved techniques across loyalty and compliance, the things we're talking about are coming back. As you look at the marketplace today, where's that responsibility for compliance exist? Brands or retailers."
Panelist, Brandon Barr: Director of Retail Marketing and Insights for Duracell:
"I think it has to be a partnership. As a brand, there are only so many things that I can do to get things on the floor.
I have a sales force that's in the store once a week, but that's just a single point in time. The displays we send into stores are to drive the category.
Real time data is going to take a partnership between retailers and brands to make it drive the increased compliance.
The retailer will need to be able to communicate with their stores so those people in the stockrooms, who can put the displays out, will know exactly where they are in the back room. We can tell them exactly where to put it in the store.
On the brand side, we'll have our people in the stores as well. If I'm only in there once a week and I missed it, I need the retailer to help us out.
If we are both partnering together, we'll get more displays on the floor. Getting more displays on the floor equals greater sales for both the brands and the categories."
Panelist, Peter Bond, Managing Partner of Bond Unlimited:
"Having spent a good deal of time in stores over the last couple years and particularly in the back room, there is some responsibility, certainly on the part of the retailer.
All too often the display gets lost. If you've ever been into a back room, you will know what it's like. I certainly know what it was like in a chain drug retailer. There can be a lot of product there and it can be lost very easily.
Having tools that help us identify what's missing, allows people at retail to go find what's not been executed and make a judicious decision to put it up.
That's what ultimately is going to get it in front of the customer and drive incrementality of sales."
..."The broader movement towards intelligent, integrated stores has been incubating for years."
Shelfbucks—A Practical Approach to Tracking Promotion Execution
"Shelfbucks is focused on providing visibility to both the manufacturer/brand owner and retailer to ensure proper execution of promotions. Their solution is designed to minimize the effort and friction to get set up and start. They are working with promotional display manufacturers to get their tags built into the displays. Their readers are completely self-contained, with a 5-year battery and built-in cellular connectivity, so there’s no requirement for power or network connectivity from the retailer on-site. It is magnetically mounted, so just find a place to stick it and you’re good to go. Neither the retailer nor the manufacturer pays for readers or infrastructure, so there are zero incremental startup costs. Instead, they pay by the campaign, so are only paying as they are receiving value, getting ongoing data about the disposition of the displays for the campaign.
Their solution uses proprietary long-range IoT radio sensor technology, which Shelfbucks told me has a read range of over a kilometer. That means you don’t need many readers—just three readers per store, even for very large stores, it provides the required locating capabilities. With that setup, they can tell when a display has arrived at the store and whether it is still sitting in the back of the store or has been put out onto the sales floor. Those of you in the industry with longer memories may recall Goliath did promotional display tracking for several years. There was a lot of interest and Goliath proved out the potential and value. However, the technology wasn’t quite ready; readers were quite expensive, the cost per store was high, and the business model not quite right. Costs have come down a lot and a lot has been learned about the right business and technology model. Shelfbucks acquired the IP assets of Goliath last year, as well as some of their key employees. It looks like Shelfbucks is well positioned to finally make promotional display execution tracking work at scale, with a clear ROI." (by Bill McBeath, Published on March, 14, 2017 ChainLink Research)
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