MARKET WATCH
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VideoMining Corporation Awarded Patents
For Hardware Implementation of Video Analytics
The U.S. Patent and Trademark Office (USPTO) awarded two new patents to VideoMining Lab (VML), the R&D Division of VideoMining Corporation, for hardware implementation of video analytics for object recognition and audience measurement.
The first patent is for an embedded platform for measuring audience using dynamically-configurable hardware architecture. The system provides an end-to-end solution for audience measurement that includes demographics classification, gaze estimation, emotion recognition, behavior analysis, and impression measurement. The technology has many applications such as audience analysis and content targeting for digital signage, out-of-home media, and mobile media.
The second patent is for a hardware solution for object recognition including human faces. It uses an artificial neural network mathematical model and a very flexible architecture. The applications of this technology range from user authentication on mobile devices and matching scene objects for mobile applications such as augmented reality to more traditional video surveillance applications using smart cameras.
Both inventions are based on FPGA (Field Programmable Gate Array) platform that allows the packaging of video sensor and processing unit into an extremely small form factor with a low cost of production. The technology thus enables specialized video analytics applications to be implemented on mobile devices or smart cameras.
“VideoMining is committed to bringing the very best technology to the market. This development is another demonstration of our leadership in video analytics,” said Dr. Rajeev Sharma, Founder & CEO of VideoMining. “We are quite excited by the broad potential of this technology in industries that go beyond our current commercial focus in the retail industry.”
The two patents enhance VideoMining’s intellectual property portfolio of over 50 patents related to video analytics, retail data analytics, audience measurement and other applications of video analytics.
GS1 US Gears Up for 2012 ‘Connect’ Conference
GS1 Connect - the conference formerly known as U Connect - will take place June 4-7 in Las Vegas where technology and supply-chain executives will learn the latest strategies and developments affecting consumer packaged goods, grocery, general merchandise and other industries.
The event is hosted by GS1 US, the standards-setting organization. Companies from many different industries use GS1 standards as a foundation for sharing information and creating more-effective and efficient business processes. This will be the first gathering with the new name.
“GS1 Connect is the premier conference in the U.S. for industry to learn about GS1 standards from industry leaders and GS1 standards experts,” said Bob Carpenter, president and CEO of GS1 US. “The knowledge GS1 Connect offers is increasingly important as smartphone and computer applications make the supply chain visible to consumers, and as developments in areas such as RFID and Product Data Management change the playing field for everyone.”
Keynote speaker Biz Stone, the co-founder of Twitter, will head up the agenda that consists of a diverse selection of industry-specific sessions and workshops. The event theme, “Business Moving Forward,” continues the model of a conference planned by industry, for industry. It will cover the timeliest and most important issues facing business leaders in Consumer Packaged Goods, Grocery, General Merchandise, Foodservice, Fresh Foods, Healthcare, and other sectors.
The exhibit floor will feature nearly three dozen solution providers, including Gladson, Pinpoint Data, Zebra Technologies, and others. To learn more about sponsorship or becoming an exhibitor, contact GS1ConnectSales@GS1US.org or call (609) 658-5863.
Rite Aid Unveils Free Mobile App
To make life easier for the growing ranks of on-the-go shoppers who carry mobile smartphones, Rite Aid has launched an official mobile app offering one-click prescription refill scanning, locations and features of the nearest Rite Aid stores, and weekly sale and promotion listings. Members of Rite Aid’s free customer loyalty program wellness+ can even manage their accounts from anywhere by checking their point status and using Rite Aid’s Load2Card program to virtually clip coupons and add them to their wellness+ card for instant register savings.
The mobile app is available for free for Android and iPhone operating systems. It expands and simplifies the mobile services Rite Aid has long offered through its mobile-optimized website. .
“We’ve seen traffic to our mobile-optimized website grow steadily as proof positive that our customers’ communication preferences are evolving,” said John Learish, senior vice president, marketing. “With this new app for Android and iPhone-powered devices, Rite Aid is ready to further engage customers when and how they choose to communicate, adding relevant services inside the app that increase the convenience and value we can offer.”
7-Eleven TV Network Scores Early Success
7-Eleven TV significantly increased sales and revenue for advertisers across 4,344 stores in its first year of operation, validating the influence that digital out-of-home media has on consumers.The company reported that:
- Well-known national carbonated beverage brand sales were 17-35% higher in stores using digital advertising versus non-digital tactics.
- Targeted Hispanic language advertising resulted in a 21% sales increase for a leading national soft drink advertiser.
Meanwhile, the new Nielsen Fourth Screen Report confirms 7-Eleven TV advertisers are reaching targeted demographics and attracting viewers, with approximately 93,500,000 monthly ad exposures. The report arms media buyers with valuable audience metrics on one of the nation’s largest digital out-of-home networks, with targeted impressions rivaling the top four broadcast TV networks.
Harris Broadcast Communications provides network management capabilities across all store locations. 7-Eleven TV network advertisers include major brands such as Pepsi, Frito Lay, Hershey, ESPN and the California Lottery.
Combining In-Store Marketing with TV Ads Pays Off
The results of a new study demonstrate a methodology for optimizing the mix of in-store marketing and television advertising using single-source, household level data. A methodology for optimizing product price, in-store marketing and television advertising together and measuring how they work in tandem never previously existed, according to TRA and dunnhumbyUSA, the research companies that co-sponsored the study.
Leveraging the dunnhumbyUSA database of the anonymous household level purchase behavior data from 60 million households across the United States that is matched to second-by-second measurement of
TV viewing habits from more than 2 million set-top box households provided by TRA, the TRA/ dunnhumbyUSA study focused on heavily advertised consumer packaged goods (CPG) brands that average upwards of $20 million in television advertising within the categories of toothpaste, yogurt, and cereal. While marketing mix modeling analyzes the market average level, this analysis was performed at the household level and involved approximately 2,500 retail stores.
Among the study’s findings:
- TV advertising does not soften impact of price discounting It has been commonly believed that TV and a temporary price reduction should not be used at the same time because TV reduces the impact of discounting. The study found that to be an inaccurate assumption. In six case studies, approximately 50% of all households exposed to TV were also impacted by the temporary price reduction and exhibited higher sales increase than the remaining 50%, reached only by TV. The study also found temporary price reduction to be a significant driver overall with an 11.83% average further sales lift over what only TV achieved.
- Using all in-store marketing tactics with TV simultaneously maximizes brand sales Using TV in combination with a temporary price reduction (TPR), feature and display simultaneously maximizes sales response. The study found a combined average of more than eleven times the sales effect of TV alone.
“Marketers, media planners and researchers have sought to understand the relationship between in-store marketing tactics and television advertising for many years and the TRA/dunnhumbyUSA study is a game-changer for the industry moving forward,” said Matthew Keylock, Senior Vice President, New Business Development & Partnerships, dunnhumbyUSA. “This type of household-level analysis allows us to understand under what conditions and for which product categories there is a positive synergy between tactics. Further, it allows us to understand how different consumer groups respond to these levers which will significantly help to optimize campaigns and overall marketing ROI.”
Digital Coupon Users Shop More, Spend More
Consumers who use digital coupons shop more frequently and spend significantly more during each trip than the average U.S. consumer, according to a study by GfK Knowledge Networks. The research was based on more than 200,000 households using digital coupons and compared to 2.3 million shoppers.
The research found that:
- Digital coupon users make 22% more shopping trips per year than the average shopper. The digital coupon user and the average shopper make 69 and 57 trips, respectively, per year.
- Digital coupon users spend 23% more per shopping trip than the average shopper. The digital coupon user and the average shopper spend $55.05 and $44.87 per trip, respectively.
- Digital coupon users spend 49% more per year than the average shopper. The digital coupon user and the average shopper spend $3,803 and $2,545 per year, respectively.
- Digital coupon users make 48% more “stock up” trips than the average shopper, with 18.6 and 12.6 stock up trips, respectively, per year.
“What this research tells us is that brands wanting to reach heavy grocery spenders need to strongly consider digital coupon sites as an important piece of their coupon and brand advertising market mix,” said Neal Heffernan, Senior Vice President/General Manager of the Behavioral Insights Group at GfK Knowledge Networks. “The findings are unique from other studies out there in both the scale and the fact the research measures actual purchase behavior - not purchase intent, therefore making the results extremely accurate.”
The study evaluated the shopping behavior of over 200,000 of the households that use digital coupons. These households were identified as having redeemed coupon sourced from Coupons.com or one of the tens of thousands of websites in the Coupons.com digital coupon network. Shopping behavior was compared to that of 2.3 million households in the GfK Knowledge Networks National Shopper Lab.
SymphonyIRI Launches Analytics2020 Initiative
A new economic model for the CPG and retail industries is emerging, resulting from a radical shift in shopper behavior and built on the integration of advanced, predictive analytical models and new flexible technologies. Addressing this transformation, SymphonyIRI has launched “Analytics2020,” a CPG and retail industry initiative to identify and define the roadmap for consumer and retail analytics innovation in the next decade.
The initiative will comprise a global industry survey to study in detail the requirements for success in the evolving retail landscape and how to leverage analytics to create competitive advantage, coupled with creation of an Analytics2020 Consortium, including leading manufacturers and retailers, academics, and media agencies. The Consortium will develop a series of position papers that taken together will articulate the capabilities and anticipated results of the new generation of analytics on manufacturers, retailers and shoppers. An online field guide will be published to take the research into practice with specific recommendations to unlock growth and value creation.
The Grocery Manufacturer’s Association (GMA), in collaboration with SymphonyIRI Group, will release initial industry research findings from Analytics2020 in August 2012 at the GMA Executive Conference. The GMA will also sponsor a related executive working session at its Trading Partner Alliance Strategies 4 Growth conference in late October 2012.
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