When it comes to limited edition products, there’s no denying that scarcity drives serious demand (and maybe a little FOMO). So why aren’t more brands leveraging this type of marketing strategy?
I’ve been to my fair share of conferences and Shoptalk has easily become my favorite. This was my third year attending and I’m even more impressed than ever before.
Here are the highlights from this year’s sessions and show floor:
Mobile Experiences in the Customer Journey
Key takeaway: Apps and digital channels should be at the forefront of retailers’ business plans.
Panera Bread: Everyone claims to have a mobile strategy but few have actually perfected it. Mark Berinato, VP, Digital Experience spoke to the evolution of Panera’s core customer. He explained that its loyal consumers want to feel recognized and special. For that reason, Berinato implemented a ‘digital flywheel’ of connected touch points. Whether the customer dines in, takes out or orders delivery, Panera’s personalized end-to-end journey heavily relies on its point of sale, back of house, 1:1 marketing, customer data and big data to create a seamless experience – not an easy feat when the majority of its customers dine during three “core” mealtimes. And the company’s digital customer is much more valuable than its regular customer: The chain sees increased frequency and incremental transactions from digital diners, as well as an additional 1-2 visits per year. So just how powerful is Panera’s digital journey? In 2017, the company did $1.2 billion in digital sales (30% gross sales through digital). Additionally, Panera has a 5-star mobile app rating and 30 million MyPanera Members.
Let’s be honest, NRF can be extremely overwhelming. To make it easier for you, I’ve rounded up a list of innovative technology players from this year’s NRF floor – most of which are new to the market. Consider these companies and their services as you plan your 2018 retail strategy. As we all know, if you aren’t innovating, you’re allowing your competition to eventually put you out of business.
Retailers, take a peek:
Electronic Shelf Labeling is the new “it” technology. Pricer is the only company to offer the three fundamentals to store digitization: product positioning, device tracking and universal product/label flash. Best Buy is one of many major retailers to sign on with Pricer for their Electronic Shelf-Edge solutions. Nicole Nelson, Vice President at Best Buy said, “having electronic shelf labels in place allows employees to focus on serving customers instead of changing paper price tags.” In addition to the ESL solutions, Pricer has also combined wayfinding/product locator for large retail storefronts. Pricer’s wayfinding technology easily detects the physical location of shelf tags – for example, if you happen to move an item or tag from one aisle to another, its system will automatically update the location on your store map.
Excerpts from an article in Mobile Marketer
Written by Robert Williams
Tilly's, the teen retailer with 221 stores in the U.S., launched a mobile scavenger hunt this week that urges shoppers to visit its stores and win discounts. The promotion uses augmented reality (AR) to let app users search stores for prizes.
Shonduras, the online star with more than 1 million subscribers on his YouTube channel, is hosting the contest and frequently hints to mobile users where to collect virtual coins in stores. Android and iOS users who collect enough coins are then offered prizes and discounts, as Shonduras demonstrates in a YouTube video. The scavenger hunt runs August 1-14.
New GPShopper report uncovers consumers reaction to today’s shopping experience
GPShopper, the leading mobile commerce and engagement platform for retailers that want to create custom app experiences for customers, released its “Reality of Retail: Consumer Connection” report that found more than one third of consumers typically feel nothing when asked what their initial reaction was when shopping in-store.
The study, conducted online with third party research firm YouGov, looks at not only how consumers who own a smartphone feel about the current in-store experience, but what innovations they want retailers to incorporate– whether digital or physical.
GPShopper’s consumer emotion matrix measures how American shoppers typically feel when shopping in-store.
Topics: Infographics, Press, Mobile Apps, Loyalty, Location-Based Marketing, Market Research, In-Store Mobile, Benchmarks & Statistics, Omnichannel Retail, Best Practices, Grocery Retail, Apparel Retail, Beauty Retail, Lifestyle Retail