NCS hit Vegas Shoptalk 2022, and no, what happened there thankfully did not stay there. SVP Head of Advertising Sales, Patrick Gut, and Senior Director of Retail Partnerships, Dwayne Flood, accessed a behind-the-scenes look from the latest tech to new partnerships and brought back these three key Shoptalk takeaways.
#1 Partnerships are critical
At Shoptalk, it was obvious that collaboration is the key to brand success and strengthened business foundations. As retailers and CPG brands continue to innovate, they can add value to their marketing by partnering with companies that complement their strategies.
“I was sitting in a breakout session where DoorDash is now partnering with B.J.’s. We have and continue to see these partnerships start to rise. This is why we constantly ask ourselves: How can NCS make partnerships even stronger? Then we find solutions to make it happen.” - Dwayne Flood
Our takeaway: It never hurts to admit you can't do it alone. Retailers and CPG brands should be looking to team up with the right companies that offer transparent insights, resources and long-term stability, all in a privacy-safe environment.
#2 Tech continues to innovate
Each year, more than 1,000 tech and direct-to-consumer startups attend Shoptalk, showcasing the most innovative technologies in the industry. As Dwayne and Patrick made their way through the event, their senses were flooded by the evolved next-level tech presented around every corner.
"The number of tech companies I saw at Shoptalk...everything from scannable grocery carts to delivery autonomous vehicles. It was awesome to see how companies are continuously innovative just like NCS – I'm excited for all the opportunities in our industry!" - Dwayne Flood
Our takeaway: Remaining stagnant in a tech-forward world means losing out on opportunities to grow. By keeping updated on the latest tech, advertisers create a work smarter, not harder, environment that inevitably sparks a greater return on ad spend.
#3 Retail networks are hot
There was a lot of buzz around retail media networks. According to a recent survey by Brand Innovators and NCSolutions, 73% of CPG marketers plan on advertising with a retail media network in the next 12 months. While such networks are great for demonstrating return on ad spend in their own environments, they can also make it difficult for marketers to know what impact their advertising had on consumers in other channels, causing inefficiencies and redundancies.
"Some questions advertisers might be asking themselves are 'how do I manage all this fragmentation?' and 'What are my solutions to have a holistic marketing approach instead of thirty different ones?' This is an area where NCS can help." - Patrick Gut
Our takeaway: Retail media networks (RMN) are still evolving but growing fast. It’s difficult to manage what advertisements have been repeated on different platforms or performances outside of a specific market. Make sure to choose a collaborator that can help declutter the chaos.
How NCS can help
Strengthening partnerships, following next-gen tech, and observing retail media networks are part of our day-to-day discussions at NCS.
Strengthening partnerships: Collaboration is key. We’re at the center of the CPG landscape, connecting, innovating and building foundations through our unparalleled insights transparency.
Tech innovation: Innovation is in our DNA. We are firm believers in leaning into tech and constantly work to be one step ahead through our solutions – meeting our clients’ productivity timelines.
Retail networks: Close the loop. We help you go beyond your own customers and understand the rest-of-market purchasing.
With our team, the learning never ends—learn more about our recent collaboration with Snowflake.
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