Byron Chew

US consumers continue to spend more online, via both desktop and mobile, with $1.3 trillion in 2023 — or about $1 trillion more than they did in 2013, when spending totaled $235 billion, according to the Comscore, Inc. “State of Digital Commerce” study. 2023 was the highest-spending year in online retail history, and the fourth quarter of 2023 was the highest-spending quarter in online retail history. A few highlights of the study: 😮 Between the second and fourth quarters of 2023, e-commerce growth beat the rate of growth in U.S. inflation, roughly 4% to 3%. 😮 The percentage of total consumer online spending in the fourth quarter by month was largely unchanged from the fourth quarters of the previous several years - October 29%, November 37%, and December 34%. 😮 There has been a 287% increase in online grocery spending since the fourth quarter of 2019, which comScore attributes to new shopping habits formed during COVID-19, which have remained in place even as the pandemic has waned. #Ecommerce #retailing #online #insights #data

13

2 Comments

#RetailMediaNetworks have a promising role to play in the #FutureOfRetail and consumer experience. Why?   Retail media networks offer unparalleled access to first-party data, allowing brands to tailor their messaging and reach the right audience, creating seamless and relevant shopping experiences. Think about tailored ads and promotions that meet consumers where they are and make their journey more enjoyable.   Happy customers are loyal customers, and that’s a win for everyone.    Retail is a service now and brands must align and strategize to deliver on the customer promise, simultaneously improving their bottom line.   Find more in our latest video👉 https://lnkd.in/e468RVZG   #RetailInnovation #RetailRevenue #BusinessStrategy

15

Retail Media Network Basics At A Glance At the Path to Purchase Institute, we've curated all the essential retail media intel, terms, and definitions you need to know. Whether you're new to retail media or looking to refresh your knowledge, this article is packed with valuable resources to help you stay ahead of the curve. Take a look and get up to speed on the latest in retail media. #RetailMedia #Marketing #P2PI #membership #MediaTrends https://lnkd.in/eS4Jnid8

11

This is the Pokémon Go of shopping carts. Caper Cart is gamifying shopping. And according to VP David McIntosh. The goal is a Pokémon Go experience. (While giving brands precision in-store marketing.) And they’re evolving faster than retailers can roll them out. Here’s what the next gen of this cart will offer: -> AMSR lights and sounds. -> Spinning coupon wheel. -> Running savings tracker. -> Deal location finding. You wanted Retailtainment? Get ready. ——— 🔹 We increase velocity in Whole Foods, Walmart, Target, Walgreens, CVS, Kroger, Sam's, COSTCO, and lots of other cool retailers. 🔹 We grow brands on Amazon. #cpg #cpggrowth #retailgrowth #retailvelocity #omnichannel #retail #amazonagency #retailmedia #shoppermarketing #instacart #sprouts #sproutsinnovation #capercart

35

34 Comments

Excellent Retail Experience without AI My LinkedIn feed is full of AI tips, life saving, business enhancing, time saving, how to improve the customer experience, maximize the value of each customer, etc. For $.04 Ace Hardware in Los Gatos, CA has a customer for life. Received a $10 off coupon for a purchase over $50. Needed to buy some Meat Church Blanco seasoning, etc. When to the checkout with my four items. The new checkout employee informed me that my total was $49.96 and thus ineligible for the $10 discount. I looked around at the impulse buy items and just didn't feel like animal crackers. Then the seasoned employee, next to the newer employee, asked if I had any sale items (protecting the store margin). The season employee then told the other employee to sell me a screw for $.04 thus making me eligible for the discount. They also made sure that i knew that I could buy the screw for $.04. $.04 to save me $10.00. Great experience! Savvy employee taking care of the store and the customer. Try and get an AI powered POS system to make me feel great! And in an ironic twist I have a prompt from LinkedIn to have this post rewritten with AI! #acehardware #customerforlife

24

5 Comments

All the rage is "Retail Media"...everyone talking about how best to leverage retail media with advertising budgets. Two alarming statistics. #1 Retail Media will attract more incremental advertising spend than Alphabet and Meta combined. The more alarming statistic? Amazon is forecasted to earn 76% of that retail media advertising spend. Next closest within retail media is Walmart with 6%. Google and Meta have been called duopolies but the "toll booth of eCommerce" has emerged. Amazon keeps collecting and reports this Thursday. https://lnkd.in/gBWUwZSB $AMZN $META $GOOG $WMT

17

1 Comment

Retail media will make up one-fifth of worldwide digital ad spend this year. Take a moment to digest that number. That's 20% of all worldwide ad spend - or in other words - a $293 Billion market by 2029! I've already written about retail media before, but in this article I went more in depth to explore what retail media is and how it is reshaping retail as we know it - from online to physical stores, which retailers are already offering their own retail media platform (and some companies who are not traditional retailers, such as T-Mobile and PayPal as well!) and of course - who are the Israeli startups shaping the future of retail media - weR, Catch, buywith and Mabaya which has already been acquired by giant ad tech company Criteo. Read the full article in the comments below, and let me know your thoughts!

172

32 Comments

Change often happens slowly, then suddenly. The consequences of technology and change passing us by are not being able to define ourselves and missing the transitions. The consequences are always catastrophic. One of my favorite quotes is JFK “for time and the world do not stand still. Change is the law of life. And those who look only to the past or present are certain to miss the future.” The newest lesson is RedBox. As a 90s kid, we spent most Fridays at blockbuster or a red box. Although in decline for years, Redbox was founded in 2002 and had over 42,000 kiosks with 52% of the rental market share. The leaders were late adopters as they believed they had more time to develop digital services. In a world of constant disruption, sustainable success requires us to pay attention and constantly pivot. #retail #innovation #change #technology https://lnkd.in/gVR42-w5

12

1 Comment

Reaching customers wherever they are along their shopping journeys is increasingly more complex. Brands also need to be able to effectively reach relevant targets and measure their impact in ways that matter. That’s why we’re incredibly excited to make that easier to accomplish with Disney+ and Hulu’s premium streaming content through this first-to-market collaboration with Disney Advertising. This winning combination will be another powerful way for advertisers to tap into Walmart Connect’s full-funnel, omnichannel capabilities to create integrated campaigns across offsite media like CTV, Walmart digital properties, and in our stores. In fact, Walmart Connect campaigns that ran both CTV and Onsite Display ads saw a 10% higher conversion rate on average vs.campaigns used Onsite Display ads alone (Walmart first-party data, Feb. 2023-Jan. 2024.) Disney Advertising, welcome to Walmart Connect’s Partner Lab – we’re excited to unlock new capabilities for marketers together!

473

13 Comments

A quick read that hits some key elements of effective loyalty programs.... Ultimately, the business goal of driving incremental trips profitably, requires a level of personalized and relevant messaging that deepens customers' affinity with the offering. Many try, but only few loyalty programs get it right, finding a true collaboration across ... 1.Data science teams (e.g., MLops, CRM, customer analytics, etc.), 2.Business acumen teams (e.g., merchant promo/offers, fp&a/mp&a, etc.), and, 3.Customer engagement teams (e.g., branding/creative, marketing channel, etc.).

3

Our team talked through the differences in physical retail vs. digital this week. Cole Walker presented some great insight in the differences in Instacart behaviors and typical store patterns. The big underlying theme? Visibility means something entirely different when you’re talking digital vs. physical in retail. One of my favorite things to do in store is tidy up the shelf (most CPG folks I’ve found do this 😆). The physical shelf requires price tags, inventory, some decent packaging, and merchandising to look good. It also is seen by the human eye, which has a wide lens and can capture a lot of info at once. The digital shelf largely relies on inventory, reviews, and an algorithm paired with searches. It has a very narrow lens for viewership (1 listing per 1 inch of screen essentially) and is noisy in its own way. As the two worlds grow more intermingled, it’s imperative to remember the core ingredients that fuel each medium, and the recipe need for success.

16

🔍 Consumer Behavior Insight: Trust vs. Value Fascinating to see that while 94% of US consumers surveyed do NOT trust Temu, 68% still shop there. This highlights how powerful prices, ease of use, and deals can be. Despite an instinctual feeling of distrust (System 1 thinking), more deliberate, analytical thinking (System 2) considers financial benefits strong enough to outweigh trust issues. Read more: https://lnkd.in/e7DbveKB

3

3 Comments

I tried to get rid of ROAS this week. Just end it as a viable metric. In dramatic LinkedIn post fashion to get you to expand … I failed. At the Ascendant Network #retailmedia event this week in Palo Alto Andrew Lipsman and Jaiah Kamara, MBA. and I led a conversation on ROAS vs. iROAS. We polled the room and asked, “how do you feel about ROAS – 5 means you love it, 1 is you hate it and hope to never see it again.” The room was less divided than I thought. In a group of Brands, Retail Media Networks, and Tech partners, no one had higher than a 3, with most of the group at a 2. 💡 Turns out, we’re all in alignment that ROAS isn’t a great metric! 💡 We all know that it’s overly correlated to brand sales. We all know it’s easy to manipulate. We all are aware that if we try to present a ROAS that is more conservative and more transparent, we can loose out to our competitors who have a ROAS calculation which is more of a black box. So, what do we do? The obvious statement is we need to move towards #incrementality. But because #math we can’t always get to statistical significance for every campaign. I’m going to propose we think about Retail Media Measurement in a different way. What became obvious during our conversation is the power of closed-loop measurement comes when Retail Media Measurement is combined with measurement that is owned by the Brands. As Retail Media moves towards maturity, Retail Media Networks need to find ways to support Brands own internal measurement. This means providing the right data for measurement in the ways the brands want it, when they want it, and how they want it. We're moving towards what's next at Albertsons Media Collective - are you?

403

48 Comments

You have to give credit to Walmart. Many large companies have struggled to keep up with market change. Sears, with their legacy catalog, was uniquely positioned to transition to the e-commerce space but failed to adapt. Blockbuster, once the king of home entertainment, couldn't pivot fast enough in the face of Netflix's streaming revolution. Many companies are too entrenched in their legacy operations to embrace the speed of change. Walmart, on the other hand, has not only recognized these shifts but is actively leaning into them. From expanding their Marketplace to building out Walmart Fulfillment Services (WFS), they are rewriting what it means to be a big-box retailer in a digital-first world. Bringing in top talent from Amazon—arguably the leading pioneer in e-commerce and supply chain innovation—demonstrates a clear commitment to accelerating this shift and a willingness to change. While there’s still work to be done to catch up in areas like last-mile delivery and seamless omni-channel experiences, Walmart’s recent results show they are doing something that few companies of their size can: evolving their business model to stay ahead of the curve. It will be fascinating to see how this leadership change will accelerate Walmart’s journey into advertising.

4

Exciting news from PepsiCo’s #Gatorade. Leveraging generative #AI via the Gatorade iD platform, members can now personalize squeeze bottle designs based on their interests. Powered by Adobe Firefly and in collaboration with Work & Co., this initiative enables athletes to express themselves creatively while utilizing loyalty points for customization. The integration of data, insights, and digital innovations strengthens Gatorade’scommitment to enhancing personalization and elevating the athlete experience. #PepsiCo #Gatorade #AI #Personalization #Innovation CGT - Consumer Goods Technology check out the article From Liz Dominguez : https://lnkd.in/eFarWbHz

12

It’s no secret that the retail dynamic is complicated right now — brands are fighting for every conversion in an increasingly expensive ad environment where consumers are less loyal and more price-conscious. But Walmart thinks it has the answer, for its own suppliers at least — making its robust slate of first-party data on shopper behavior and supply chain journeys available to brands via the Walmart Luminate suite of insights tools. #data #retailanalytics #walmart #dataventures

6

Which is the superior primary image for CPG eCommerce? We've seen the emergence of the new ribbon banner image on the right, which breaks the sides of the pack instead of zooming but doesn't call out size / count to the shopper. What do you think? Is this a better image for shoppers? Should GS1 allow this image?

159

95 Comments

🎉 Big News From Pacvue! - As I teased a few weeks back, we’ve just added a powerful new offering to our platform!  Pacvue has released our new #iROAS Dashboard, part of our Incrementality Console, to tackle one of the biggest challenges in retail media… #Measurement.🚀 Understanding the incremental impact of advertising efforts is critical to planning budgets and measuring the effectiveness of campaigns - yet remains one of the most ambiguous areas, causing uncertainty in digital marketing. Our new incrementality model enables brands to see the impact of advertising on sales, optimize their budgets, and make better data-driven decisions on overall marketing strategy. Pacvue’s iROAS model leverages years of deep industry expertise combined with dozens of inputs and data sources to bring brands the most accurate measure of incremental revenue growth. 👇 Check out the link below for more details. https://lnkd.in/g_KRiHs3 #incrementality #retailmedia #commercemedia #martech 

175