Groceryshop Check-Out Time: Dwayne’s Cart is Full of Insights

    GroceryShop_1200x490_9-28-22

    By Dwayne Flood, Sr. Director, Retail Partnerships

    What happens in Vegas stays in Vegas. But today, I am breaking that rule and sharing what I learned from attending Groceryshop. I highly recommend attending to those of you who haven’t been before. The event is the go-to place for the consumer packaged goods and retail industry, chock-full of the industry’s latest trends. 

    1. Retail Media Networks take the show

    While the buzz around Retail Media Networks (RMNs) was exciting, it wasn’t too surprising. We learned earlier in the year from our CPG Brand Marketers Survey that 75% of CPG brands would invest more of their budget into them in 2022. Now more than ever there’s a need for transparent data sets and retailers to stand out among the growth of all the RMNs. They’re not letting grass grow under their feet either. The brand Banza is a prime example. At the conference, they mentioned that just in the last six months, their marketing spend had shifted dramatically into retailer media and that they have taken advantage of the e-commerce space – doubling their share. 

    2. Unifying online and in-store engagement

    Utilizing an omnichannel approach allows seamless, personalized customer experiences. To sum up what Marissa Jarratt, CMO from 7-Eleven presented, the reality is consumers are looking for simplicity and, most importantly, value in and out of the store. Marissa discussed how 7-Eleven’s loyalty program does exactly that, showcasing transactional and experiential value. Transactional: meaning offering discounts, coupons, membership clubs and bonus points. Experiential: meaning that this loyalty program offers exclusive VIP access to out-of-home brand experiences.

    3. Collaboration between brands and retailers has never been more paramount

    Steve Mewborn from Bain and Company led a thought-provoking discussion on how the shift to e-commerce due to the pandemic has put major pressure on retailers on multiple fronts. From product differentiation and surety of supply to new sources of sales and creative solutions for waste and inefficiency, retailers are looking to create new, solid relationships with CPG brands where they can help each other out. To build trust between retailers and CPG brands, Steve recommends they both align to collaborate across stakeholders, provide clarity on all-in economics and finally, they need to believe in each other.

    This is where we come in

    I’ve said it to other attendees at the conference, and I’ll say it here – NCS is all about offering solutions that deliver, actionable applications and insights to enhance advertising effectiveness. Don’t just take my word for it. Check out this case study where our insights helped a popular snack brand drive buyer demand mid-campaign. And as for Groceryshop, I am already looking forward to next year.

    READ CASE STUDY

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