MARKET WATCH
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VideoMining Launches Platform for Ongoing Retail Optimization
A new suite of analytical tools and services called ShopperPRO (Platform for Retail Optimization) has been released by VideoMining Corp., the leading provider of in-store behavior analytics.
The platform represents a new approach to in-store analytics that enables collaborative optimization of retail strategies based on ongoing collection of shopper behavior data. By extracting insights from store panels at key retailer partners, ShopperPRO builds on VideoMining's extensive in-store analytics experience and industry tracking programs that have delivered channel-specific insights for nearly a decade.
ShopperPRO is powered by VideoMining's recently-announced OmniSensr technology. The all-in-one hardware and software solution is optimized specifically for anonymous shopper tracking and generation of deep in-store behavior analytics. The new sensing platform integrates video, Wi-Fi and beacon technologies. It enables cost-effective deployment of the store panels that generate the core behavior data for ShopperPRO.
For the end user, ShopperPRO takes the form of powerful cloud-based tools enabling on-demand access to rich shopper behavior insights and the flexibility to track performance, learn more through further analysis, and test new concepts to gauge the responses of real shoppers. This suite of interactive tools creates a prescriptive analytics framework comprised of a range of application-specific modules.
ShopperPRO modules include:
- Total Store / Trip Optimization providing key insights needed to compete in the hyper-competitive retail environment
- Category Optimization which puts the shopper squarely at the center of all category management processes
- Brand Optimization delivering behavior-based measures of brand strength at the shelf and crucial understanding of shopper segments
- Display Optimization which provides a data-driven solution for rating in-store display locations and optimizing promotions.
"Our new analytics platform is the culmination of several years of R&D and collaboration with some of the best minds in retail and consumer goods," said Dr. Rajeev Sharma, Founder & CEO of VideoMining. "We are very excited to take this next step in our mission to make in-store behavior a truly integral part of critical CPG and retailer business processes."
Jeff Hershey , EVP of Strategy and Development, said, "Our goal in developing ShopperPRO was to maximize the access and application of the incredibly valuable shopper behavior information we gather from our panel stores. This information is only as useful as one's ability to harness it to solve real-world problems. We focused on creating modules that mapped to specific functions from storewide trips to brand engagement at the shelf level. Add in the elements of ongoing data collection and the ability to activate learnings at a specific retailer, and you have a truly innovative, prescriptive approach to leveraging the power of in-store behavior."
For more information about ShopperPRO or VideoMining's range of Shopper Analytics solutions, contact VideoMining at info@videomining.com or 800.898.9950.
Furmano Foods Selects AFS for Trade Promotion Management
Furmano Foods has selected AFS Trade Promotion Management Foodservice (TPM Foodservice) from AFS Technologies to better manage their foodservice trade spend. A growing fourth-generation family owned company for nearly 95 years, Furmano Foods will rely on the program to mitigate the complexities of their market and deliver the automation, audit, and analysis required to make informed trade investment decisions.
“AFS has been a proven partner of Furmano Foods for many years. They understand the nuances of the foodservice market and support our commitment to using state-of-the-art technologies across the business,” said Robert Vanderhook, Vice President of Sales & Marketing at Furmano Foods. “We are excited to see how automating our processes and analyzing promotional data can help amplify our efforts to tackle trade spend challenges.”
AFS TPM Foodservice is an end-to-end solution providing contract management, full claim validation and settlement services, and analytics that can identify trade spend errors to ensure accurate payments. By providing manufacturers with visibility into both distributor and operator trade spend through a proven approach involving automation, audit capabilities and analysis, customers can experience rapid ROI through productivity gains, exposure into trade spend errors and real-time insights into contract performance.
“With the complexities in the foodservice market abound, effectively managing trade spend even down to the operator level can be a time consuming and daunting task,” said Chris Than Win for AFS Technologies. “By combining our market expertise and services with our innovative solutions designed to address the unique needs of the foodservice market, Furmano Foods will be able to gain control of their trade spend and position themselves for success.”
IRI, Return Path Partner for e-Commerce Receipts, Transaction Data
Information Resources, Inc. (IRI) and Return Path, a global data solutions provider, are partnering to give fast-moving consumer goods companies e-commerce receipts and transaction data. IRI will integrate data from Return Path’s Consumer Insight business and other e-commerce transactional datasets to create a comprehensive view of the rapidly growing online activity in the CPG industry.
The new, integrated dataset is designed to give CPG marketers:
- Significantly enhanced understanding of e-commerce activity
- Interaction of online purchasing with traditional brick-and-mortar transactions
- Deeper awareness of the path to purchase.
This complete view aims to provide more effective shopper insights, marketing activation, and a holistic approach to measurement.
Return Path’s Consumer Insight business provides in-depth visibility of consumer behavior in real time. It captures shoppers’ inbox data, which provides a unique, real-time view of behavior, from brand affinity to detailed purchase records.
“IRI is the first data partner to gain deep access to Return Path’s Consumer Insight data, giving IRI clients a significant advantage,” said Robert Tomei, president, Consumer and Shopper Marketing, IRI. “This is an opportunity to create a best-in-class alliance to help clients gain strategic insights from previously unavailable data.”
Through the alliance, IRI will gain access to e-commerce receipt data as well as purchase data and will collaborate with Return Path on future products and services, such as scorecards, analytic services and market share reports. In addition, the alliance will give IRI clients new access to e-commerce purchase data, including product-level, basket and unique transaction information, such as pickup versus delivery.
Grocery Apps Can Build Customer Loyalty
Consumers download smartphone apps developed by grocery retailers for savings and convenience, according to a three-year research project by St. Joseph’s University and the Food Marketing Institute (FMI). These reasons are quickly matched by enjoyment and enthusiasm for mastering the app.
The research concluded that grocery retailers can expect to see a correlation between how engaging and entertaining their app is and their digital customer retention.
“The findings are exciting for food retailers,” says Nancy M. Childs, Ph.D., Gerald E. Peck Fellow and professor of food marketing at Saint Joseph’s University, who employed both qualitative and quantitative methods to measure consumer behavior for the Peck Fellowship research report. “Grocery app use is important to track and engages customer loyalty, and app quality and functionality can differentiate retailers in a consumer’s mind.”
Childs also found that active grocery app users are not overly concerned about their privacy, but appreciate transparency by retailers regarding how their data is used.
“Digital trust is key,” she says. “The more consumers feel they are in control of their data, the more generous they are with information, and the more they are locked into an app for sales. The level of digital trust a consumer has with an app is critical and will be a meaningful differentiation when choosing grocery apps.”
Childs’ research with FMI over the past three years has focused on multiple aspects of digital grocery commerce, while this recent report focused on consumer perspectives of grocery retailer mobile apps and digital trust.
For a copy of the report, visit www.fmi.org/store. Members of the press can request a gratis copy through FMI’s media relations team or visit: http://www.sju.edu/int/academics/hsb/foodmarketing/academy/peck/resources.html
Most Shoppers Want Faster Retail Checkout Experience
Nearly nine of ten of U.S. consumers (88%) want their store checkout experience to be faster, says a study conducted online by Harris Poll and commissioned by Digimarc Corporation.
Other findings:
- Nearly half (45%) of consumers who avoid self-checkout do so because of technical or barcode scanning difficulties
- Six of ten (61%) agree clerks focus most on scanning items and less on finding out if customers are satisfied
- A combined 50 percent say slow checkout speeds and long lines are their top grievances.
“Checkout is the last opportunity a retailer has to make a positive impression on a shopper,” said Larry Logan, Chief Marketing Officer, Digimarc. “Asking customers to endure a lengthy wait to process and pay for their order can spoil what may have otherwise been an enjoyable shopping experience.”
Also disappointing shoppers at checkout is a lack of quality human interaction and perceived gratitude. Thirty percent of survey respondents say they feel like a burden to the clerk and other customers when they have a full cart.
The survey also suggests that self-checkout (which nearly three quarters have avoided) could be more appealing if there were fewer technical problems. Of those who avoid self-checkout, forty-three percent cited technical or barcode scanning difficulties as reasons they avoid the self-checkout lane.
The survey also shows that many consumers would like to use smartphones to scan packaging to get additional product information. This is consistent with the findings from a recent report form Cisco Research showing that three of four shoppers (73%) would scan products for special, customized offers and promotions in the store.
Digimarc has developed a way to boost shopper satisfaction. Its Barcode solution allows retailers and brands to encode existing barcode data invisibly and repeatedly over the surface of packages and labels, dramatically improving ease, reliability, and speed of scanning by point of sale (POS) scanners, smartphones, tablets and other devices equipped with Digimarc software. With the entire package scannable, POS systems can quickly identify the product regardless of how the cashier orients the item in relation to the reader, paving the way for shorter lines, better customer service and improved margins.
This survey was conducted online in the U.S. from June 12-16, 2015 among 2,079 adults ages 18 and older.
Beacons Connect with More Millennial Moms
More Millennial moms are reachable via beacons and proximity-based engagement programs in stores, according to data released by inMarket, operator of a beacon proximity platform.
The research reveals that 38% of the 9 million U.S. Millennial moms - those born between 1982 and 2000 - are actively using beacon-enabled shopping apps every month. Trading partners can reach this audience via location-based mobile engagements such as welcome messages upon entering a store, calls to action based on specific marketing efforts or branded engagements that are native to the app which they are delivered in.
Beacons are Bluetooth-enables devices that connect with partnered mobile apps nearby, even if the app is closed and the phone is in the user’s pocket. Beacons rely on apps to receive their signal, which then “wake up” to send ads, coupons or supplementary product information to shoppers.
“Millennial moms have become the most coveted part of the 18-34 demo due to their leadership role in family spending,” said Todd Dipaola, CEO and founder, inMarket. “Brands know they need to reach these mobile natives on the medium they use most intimately. It's no wonder that modern moms are using the defining technology of our time, mobile phones, to the fullest extent in-store.”
inMarket's beacon proximity platform reaches over 36 million monthly active shopping app users in thousands of U.S. retail locations.
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