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Five new realities of the buyer's journey

Five new realities of the buyer's journey | CPG | Scoop.it
The buyer's journey isn't what it used to be. Thanks to the transformational nature of the digital world, the buyer's journey has been radically changed.
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Marketers: Embrace the Extended Customer Lifecycle - CMSWire

Marketers: Embrace the Extended Customer Lifecycle - CMSWire | CPG | Scoop.it
Marketers: Embrace the Extended Customer Lifecycle
CMSWire
The traditional customer journey has fundamentally changed.
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CPGmatters_Shopper_Marketing

CPGmatters_Shopper_Marketing | CPG | Scoop.it
Editors@Fresh's insight:

Supermarkets in the future will leverage digital technologies and other tactics to create a more engaging and personalized shopping experience. That notion, presented by the Food Marketing Institute (FMI) at its recent trade show, will have implications for retailers and food makers whose products will be on the shelves.

For now, however, retailers and shoppers have differing perceptions on customer centricity, says a study by LoyaltyOne released at FMI Connect in Chicago.

The Retail Experience of the Future (RETF) exhibit, which debuted at the show, provided attendees with a preview of how current research, trend analysis and future-focused leaders suggest the world of food retail is expected to change in the next ten years. Included were ideas for enhancing the shopping experience and adapting effectively to the changing landscape.

“The goal of the RETF initiative is to provoke thought, create conversation and inspire optimism among FMI Connect attendees about the possibilities ahead,” said Leslie G. Sarasin, president and CEO of FMI.  “The exhibit serves as an informed observation of where consumers, food, marketing and technology are headed, and what that may mean for the food retail industry in the future.”

The main area of the RETF exhibit incorporated a series of provocative “what if” scenarios and inspiring motion vignettes with a structured focus on the following topics:

  • Hyper-Showrooming: What if consumers could truly engage with products?
  • Micro-Personalization: What if customers could personalize their shopping?
  • Lifestyle Consultation: What if store associates could help shoppers live happier and healthier lives?
  • Transforming Store: What if the store could truly transform?
  • The New Front End: What if checkout was frictionless?
  • Technology: What if technology will enable the experience without interrupting it?

“The power of the Retail Experience of the Future exhibit is the opportunity it provides to discover, experience and discuss the changes that are coming to our industry and contemplate how our future success as food retailers will be determined by our ability to adapt and meet the evolving needs and wants of our customers,” said FMI Connect chairman Randy Edeker, chairman, president and CEO of Hy-Vee Food Stores.

Meanwhile, for both retailers and shoppers, customer-centricity is the Holy Grail now and in the future. They agree that this approach to retail is essential to the long-term success of every grocer. However, new research from LoyaltyOne released at FMI Connect shows that while retailers say they are delivering now, shoppers just aren’t buying it.
 
According to the research, U.S. retailers (food, drug and mass) are more than twice as likely (35%) to believe a customer-centric strategy is the most important factor for the long-term stability of their retail organizations when compare to profits and growth strategy (14%), high quality products (12%) and low prices (10%).

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CPGmatters_Shopper_Marketing

CPGmatters_Shopper_Marketing | CPG | Scoop.it
Editors@Fresh's insight:
Beech-Nut long has been a distant No. 2 in the U.S. baby food market to giant Gerber, so it always has had to try harder. Now brand executives at Beech-Nut Nutrition believe they’ve found a way to do that: By beating Gerber to the punch with the launch of an all-natural line that will get Millennial moms revisiting the supermarket baby food aisle that they’ve increasingly abandoned.

By packaging the new “Just” line in highly transparent glass jars with short lists of ingredients and making the food the star, Beech-Nut executives believe they can create a lot of “in-the-aisle” conversions of mere shoppers into loyal customers for these revolutionary new products. They are using traditional shopper marketing tools as well as the visual allure of the foods themselves to grab the attention of mothers who increasingly have been choosing other, new brands of baby food with healthful reputations – or even are making their own baby food at home.

“The challenge lately has been even getting young moms to go into the baby food aisle,” Andy Dahlen, vice president of marketing and sales for Amsterdam, N.Y.-based Beech-Nut Nutrition, which is owned by Swiss conglomerate Hero Group, told CPGmatters. “But once we do, we’re now equipped to make the sale as we haven’t been before.”

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CPG companies: Your next growth opportunity has a username and password

CPG companies: Your next growth opportunity has a username and password | CPG | Scoop.it
With the pace of digital commerce in consumer packaged goods expected to accelerate, CPG companies should act now with a coordinated, systematic approach.
Editors@Fresh's insight:

Recent research suggests that many consumer packaged goods (CPG) companies may be less prepared to capitalize on e-commerce than they should be—or than many CPG executives would like to be. In a 2013 study comparing consumers’ and CPG executives’ views on e-commerce, fully 92 percent of CPG executive respondents agreed with the statement, “The e-commerce channel is a strategic sales channel for CPG companies.” Yet only 43 percent of these same executives thought that their company had a clear, well-understood digital commerce strategy, indicating a substantial gap between e-commerce’s perceived importance and CPG companies’ readiness to execute.1


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Digitizing the consumer decision journey | McKinsey & Company

Digitizing the consumer decision journey | McKinsey & Company | CPG | Scoop.it
In a world where physical and virtual environments are rapidly converging, companies need to meet customer needs anytime, anywhere. Here’s how. A McKinsey & Company article.
Editors@Fresh's insight:

Many of the executives we speak with in banking, retail, and other sectors are still struggling to devise the perfect cross-channel experiences for their customers—experiences that take advantage of digitization to provide customers with targeted, just-in-time product or service information in an effective and seamless way.

Companies must apply advanced analytics to the large amount of structured and unstructured data at their disposal to gain a 360-degree view of their customers.

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Why the Future of Retail Will Blow Your Mind

Why the Future of Retail Will Blow Your Mind | CPG | Scoop.it
Merchants will merge shoppers’ physical and digital worlds, bringing an online data-driven strategy to storefronts
Editors@Fresh's insight:

For the past few years, brick-and-mortar retailers didn’t have a fighting chance to compete with the personalization and convenience provided by online shopping. By cultivating mountains of rich customer data, online retailers had the upper hand.

Every action and inaction -- from what customers clicked on and how much time they spent looking at certain products to their social activity and response to email programs – helped online retailers tailor each email, pop-up or recommended product to drive sales and provide a superior experience. For consumers, it was a welcome reprieve from the antiquated task of visiting a store, being treated as a stranger and receiving often-questionable customer service.

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Sprouts CEO: Selection, staff key to winning natural shopper | Sprouts Farmers Market content from Supermarket News

Sprouts CEO: Selection, staff key to winning natural shopper | Sprouts Farmers Market content from Supermarket News | CPG | Scoop.it
The trend toward healthier eating is making product attributes more powerful than brands, favoring specialty retailers with deeper selections of such items and a staff knowledgeable about them.
Editors@Fresh's insight:

The typical supermarket approach to natural foods has been to stock the top 20% of SKUs in their stores. Where Sprouts has an advantage would be on the offering itself,” Sanders said when asked about the effect of supermarkets increasing natural and organic selections during the BMO Farm to Market Conference.

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MediaPost Publications Cross-Screen Users Are All Over The Place 05/23/2014

MediaPost Publications Cross-Screen Users Are All Over The Place 05/23/2014 | CPG | Scoop.it
Cross-Screen Users Are All Over The Place - 05/23/2014
Editors@Fresh's insight:

According to comScore and Millennial Media, in a new Cross-Screen study to inform brands and marketers on who the new world of cross-screen users are, the types of content they are consuming, and how they are most likely to use a specific device (over another), women aged 25-49, 80% are cross-screen users and 11% are mobile-only users, making this demographic the largest spending time on mobile.

The online, connected digital universe that accesses the Internet via PC and mobile devices is growing, and will continue to grow as device adoption, multiple device ownership, and access to faster network connections develop around the globe, says the report. Consumers are becoming increasingly comfortable moving across a number of devices to stay connected and consume content.


Examples of Findings

  • The total digital universe that accesses the Internet via PC or mobile device has grown 4% in the last year to 201 million users. The mobile-only user base has grown at 9 times this rate and PC-only users have decreased at 11 times this rate.
  • PC & Mobile users ages 18-24 grew 9 percentage points in the year, while their time spent on smartphones grew 20%.
  • Mobile technology is helping baby boomers jump to a mobile only (and non-PC) world. Mobile users aged 50+ have grown their number of cross-device users in the last year by 19%, while the number of aged 50+ PC-only users decreased 19%.
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Branding-Focused Ads Remain No. 1 for US CPG Industry

Branding-Focused Ads Remain No. 1 for US CPG Industry | CPG | Scoop.it
For the consumer packaged goods (CPG) and consumer products industry, branding remains the main focus. According to a new eMarketer report, direct response accounts for about one-third of digital ad spend in the space, while brand messaging claims the other two-thirds. Brands are also upping spend on mobile, which will grab 33.5% of CPG and consumer products digital ad spending this year.
Editors@Fresh's insight:

The CPG and consumer products industry remains focused on branding. Because CPG brands traditionally rely on retailers to do much of the actual selling of products, direct response is not as crucial to marketing efforts as in other verticals.


The opportunity exists for CPG companies to build a new direct relationship with consumers and it can do that by truly understanding and then activating the shopper’s journey.

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Brick and Mortar Stores Benefit from Tech Innovation | NACS Online – News & Media Center – News Archive

Brick and Mortar Stores Benefit from Tech Innovation | NACS Online – News & Media Center – News Archive | CPG | Scoop.it
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CPGmatters_DigitalSolutions

CPGmatters_DigitalSolutions | CPG | Scoop.it
Editors@Fresh's insight:
Supermarkets in the future will leverage digital technologies and other tactics to create a more engaging and personalized shopping experience. That notion, presented by the Food Marketing Institute (FMI) at its recent trade show, will have implications for retailers and food makers whose products will be on the shelves.

For now, however, retailers and shoppers have differing perceptions on customer centricity, says a study by LoyaltyOne released at FMI Connect in Chicago.

The Retail Experience of the Future (RETF) exhibit, which debuted at the show, provided attendees with a preview of how current research, trend analysis and future-focused leaders suggest the world of food retail is expected to change in the next ten years. Included were ideas for enhancing the shopping experience and adapting effectively to the changing landscape.

“The goal of the RETF initiative is to provoke thought, create conversation and inspire optimism among FMI Connect attendees about the possibilities ahead,” said Leslie G. Sarasin, president and CEO of FMI.  “The exhibit serves as an informed observation of where consumers, food, marketing and technology are headed, and what that may mean for the food retail industry in the future.”

The main area of the RETF exhibit incorporated a series of provocative “what if” scenarios and inspiring motion vignettes with a structured focus on the following topics:

  • Hyper-Showrooming: What if consumers could truly engage with products?
  • Micro-Personalization: What if customers could personalize their shopping?
  • Lifestyle Consultation: What if store associates could help shoppers live happier and healthier lives?
  • Transforming Store: What if the store could truly transform?
  • The New Front End: What if checkout was frictionless?
  • Technology: What if technology will enable the experience without interrupting it?

“The power of the Retail Experience of the Future exhibit is the opportunity it provides to discover, experience and discuss the changes that are coming to our industry and contemplate how our future success as food retailers will be determined by our ability to adapt and meet the evolving needs and wants of our customers,” said FMI Connect chairman Randy Edeker, chairman, president and CEO of Hy-Vee Food Stores.

Meanwhile, for both retailers and shoppers, customer-centricity is the Holy Grail now and in the future. They agree that this approach to retail is essential to the long-term success of every grocer. However, new research from LoyaltyOne released at FMI Connect shows that while retailers say they are delivering now, shoppers just aren’t buying it.

 

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CPGmatters_DigitalSolutions

CPGmatters_DigitalSolutions | CPG | Scoop.it
Editors@Fresh's insight:

Supermarkets in the future will leverage digital technologies and other tactics to create a more engaging and personalized shopping experience. That notion, presented by the Food Marketing Institute (FMI) at its recent trade show, will have implications for retailers and food makers whose products will be on the shelves.

For now, however, retailers and shoppers have differing perceptions on customer centricity, says a study by LoyaltyOne released at FMI Connect in Chicago.

The Retail Experience of the Future (RETF) exhibit, which debuted at the show, provided attendees with a preview of how current research, trend analysis and future-focused leaders suggest the world of food retail is expected to change in the next ten years. Included were ideas for enhancing the shopping experience and adapting effectively to the changing landscape.

“The goal of the RETF initiative is to provoke thought, create conversation and inspire optimism among FMI Connect attendees about the possibilities ahead,” said Leslie G. Sarasin, president and CEO of FMI.  “The exhibit serves as an informed observation of where consumers, food, marketing and technology are headed, and what that may mean for the food retail industry in the future.”

The main area of the RETF exhibit incorporated a series of provocative “what if” scenarios and inspiring motion vignettes with a structured focus on the following topics:

  • Hyper-Showrooming: What if consumers could truly engage with products?
  • Micro-Personalization: What if customers could personalize their shopping?
  • Lifestyle Consultation: What if store associates could help shoppers live happier and healthier lives?
  • Transforming Store: What if the store could truly transform?
  • The New Front End: What if checkout was frictionless?
  • Technology: What if technology will enable the experience without interrupting it?

“The power of the Retail Experience of the Future exhibit is the opportunity it provides to discover, experience and discuss the changes that are coming to our industry and contemplate how our future success as food retailers will be determined by our ability to adapt and meet the evolving needs and wants of our customers,” said FMI Connect chairman Randy Edeker, chairman, president and CEO of Hy-Vee Food Stores.

Meanwhile, for both retailers and shoppers, customer-centricity is the Holy Grail now and in the future. They agree that this approach to retail is essential to the long-term success of every grocer. However, new research from LoyaltyOne released at FMI Connect shows that while retailers say they are delivering now, shoppers just aren’t buying it.
 
According to the research, U.S. retailers (food, drug and mass) are more than twice as likely (35%) to believe a customer-centric strategy is the most important factor for the long-term stability of their retail organizations when compare to profits and growth strategy (14%), high quality products (12%) and low prices (10%).

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Why are so many CPG innovators frustrated and demotivated?

Why are so many CPG innovators frustrated and demotivated? | CPG | Scoop.it
Many people developing new products at CPG companies feel frustrated and demotivated according to a new survey, which probably comes as no surprise given the high failure rate in the trade. But looking at what firms that produce more winners have in common could help boost everybody's mood, claims Affinnova.
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MediaPost Publications When More Data Is Too Much Data 06/03/2014

MediaPost Publications When More Data Is Too Much Data 06/03/2014 | CPG | Scoop.it
When More Data Is Too Much Data - 06/03/2014
Editors@Fresh's insight:

Keeping data becomes a liability, too. Certain manipulation of data sets, like aggregation, might not be allowed per the original license agreements, but who is tracking that, and how? And even discarding data requires effort, as somebody needs to decide what can be removed and then actually has to get around to actually purging it.


The data assessment project at a major agency holding company took four months and countless meetings, emails, conference calls and spreadsheets before somebody knew how big the problem was.

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New Retail Reality: Online, Offline Technologies Converge Onto a Single Platform

New Retail Reality: Online, Offline Technologies Converge Onto a Single Platform | CPG | Scoop.it
I had the privilege to team with Tom Litchford, VP of Technology at NRF, and Anita Bhappu, Professor at University of Arizona, on ground breaking research in t…
Editors@Fresh's insight:

A Single Platform

The new retail reality will be better served by a single platform at the center of the consumer shopping experience. A single platform simplifies the technology environment, serving as the bridge between the virtual and physical shopping worlds. This capability enables retailers to move at the speed of consumers, while also consolidating and managing key data elements, business rules, and functionality that historically lived in multiple systems. As a result, retailers can deliver a seamless shopping experience across channels. And this aligns with what retailers are looking for.


According to the study, retail leaders stated a single platform should enhance customer service, standardize business processes, and increase store associate productivity.



Read more: http://insights.wired.com/profiles/blogs/online-and-offline-technologies-converge-onto-a-single-platform#ixzz33b4s30Sv
Follow us: @Wiredinsights on Twitter | InnovationInsights on Facebook

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MediaPost Publications Is Big Data Helping Or Hurting The Shopper Experience? 05/28/2014

MediaPost Publications Is Big Data Helping Or Hurting The Shopper Experience? 05/28/2014 | CPG | Scoop.it
Is Big Data Helping Or Hurting The Shopper Experience? - 05/28/2014
Editors@Fresh's insight:

Among the findings: 52% said that shopping is too impersonal these days. They are concerned about the reliance on algorithms to dictate their purchases. And 57% worry that they’ll discover fewer new things if companies always show them exactly what they’re looking for. 

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Beyond the Grocery Smart Cart, the iBeacon Beckons

Beyond the Grocery Smart Cart, the iBeacon Beckons | CPG | Scoop.it
Despite e-commerce’s surge, some 90 percent of what people buy still comes out of brick-and-mortar stores. And when it comes to consumer-packaged goods, that figure is even higher. A recent study by Kantar Worldpanel predicted it may take another decade before online purchasing grabs even 10 percent of grocery purchases.
Editors@Fresh's insight:

“There’s been a huge transition of the shopper journey,” says Bob Tomei, president of IRI’s consumer and shopper marketing unit. “There are a significantly larger number of opportunities to engage with customers.”

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Big data's big payoff arrives as customer experience insights drive... - IT-Director.com

Big data's big payoff arrives as customer experience insights drive...
IT-Director.com
The power of big data technology is being successfully applied to understanding such complex unknowns as consumer sentiment and even intent.
Editors@Fresh's insight:

Part of the equation for making Social CRM effective comes from properly capturing the natural language knowledge delivered through the many social channels available to users. But even that is but a first step to being able to gain ever-deeper analysis, and rapidly and securely making those insights available where they pay off best.

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