Patrick Raycroft’s Post

Why Retail Media for C-stores and why now? Here, Axonet examines the case for retail media in C-stores from the retailer's perspective. Read the full article below.

For C-store retailers, #RetailMedia is a high margin, alternative revenue stream changing the economics of in-store merchandising. With limited trade dollars shifting toward Retail Media, retailers that lack a retail media offering will be challenged to recover lost funds and will lose customers to competitors who utilized 1P data and Retail Media to improve CX, personalization, and shopper relevance.   Read our latest article to find out why C-stores need to be getting into the retail media game now and the considerations to make when determining the best approach: https://lnkd.in/g99xMGZS #cstores #convenience #datamonetization #retailmedianetworks

In my last post, I talked about how physical stores can boost online sales, as evidenced by the report from ICSC. But I wanted to drill down into the data a bit more to see how that plays out across retail categories. Almost all categories see a nice increase in online spending after opening a brick-and-mortar store, with department stores taking the cake with a whopping 50.6% increase in online sales! Apparel comes in second at 11.6%, followed by home goods (9.9%), discounters (4.8%), and specialty big box retailers (1.9%). But wait, there's more... The size of online shopping baskets increases too. We're talking a jump from $94 to $104 for established retailers after opening a store. And for big-box specialty and home goods stores, the average basket size grows even more dramatically – from $85 to $111 and from $194 to $243, respectively. Stores are powerful drivers of overall financial success, boosting online sales and basket value across categories. But to maximise this effect, stores need to be well-run. Streamlined operations, flexible staffing, and a focus on customer experience are crucial. Brands should be thinking of ways to keep that in-store experience fresh and exciting, like adding healthcare services or experiential events. So, what do you think? Are physical stores rightly seen as a key weapon in the retail arsenal? Share your thoughts in the comments. #AgileRetail #RetailIndustry #OmnichannelRetail #HaloEffect #PhysicalStores

🚀 Unlocking the Power of Retail Media: Why Digitization is Key 🛒 Did you know that more than 80% of transactions still take place in-store? 🛍️ Yet, retailers in North America are just scratching the surface when it comes to leveraging their estates for in-store #retailmedia. The future is digital, and it's time for retailers to modernize their store fleets to meet the evolving needs of shoppers right at the point of purchase. In my role at Threefold, I've witnessed firsthand the transformative power of omnichannel retail media. In my latest article for Threefold-Agency, I delve into the world of retail media and why digitization is essential for retailers looking to stay ahead in today's competitive landscape. Retail media isn't just about placing ads; it's about finding the perfect mix to reach the right shopper at the right time. From dynamic pricing to personalized messaging, digitization opens up a world of possibilities for brands and retailers alike. Retail media unlocks additional revenue streams for retailers while driving sales and building loyalty among shoppers. It encompasses any promotional marketing placed at or near the point of sale, whether in-store, online, or through third-party platforms like Connected TV and social media. Traditionally, in-store retail media has been static and manual. But as technology advances, so do our opportunities. By digitizing in-store touchpoints, retailers can create more personalized experiences for shoppers, streamline the activation process, and engage key audiences in ways that traditional advertising channels simply can't match. Here are three reasons why retailers must prioritize digitization: 1️⃣ Dynamic Creative: Digital in-store media allows for real-time updates, ensuring that content remains relevant and impactful. By leveraging first-party data and loyalty programs, retailers can target individual shoppers with personalized messages tailored to their needs. 2️⃣ Streamlined Activation: Digital touchpoints simplify the activation process, ensuring campaigns are executed precisely and efficiently across multiple store locations. 3️⃣ Enhanced Shopper Engagement: In-store digital media provides opportunities to engage shoppers at crucial moments, driving stronger sales uplift and long-term brand loyalty. At Threefold, we believe in finding the right retail media mix to drive growth for CPGs and deliver meaningful results for our clients. Ready to take your retail media strategy to the next level? Let's chat! 📈 What are your thoughts on the future of retail media? How do you see digitization shaping the industry? Share your insights in the comments below! 👇 https://lnkd.in/gasWZufH

Global Retailer's Success Factors As the #retail competitive landscape intensifies, #customers are building strategies to differentiate and avoid being squeezed in the middle. Few of the strategies are: 1️⃣ Building their global corporate #brand to win loyalty and achieve differentiation, aligning every spectrum of the business to support their positioning, e.g. price-value positioning, shopping experience, merchandise #assortment, #privatelabel, #visualmerchandising, #storelayout, #customerservice and #marketingandcommunication 2️⃣ Segmenting store formats ▶ To cover different channels (i.e. embracing online retailing, launching innovative store formats, expanding into #conveniencestore etc.) ▶ To target valuable #shopperprofiles and purchase attributes (e.g. value, premium, ethnic, health, ethnicity, age and lifestyle) 3️⃣ Aggressively adapting their offerings to support their positioning and meet shopper needs ▶ Building, refining and expanding their range of private brands providing choice at different price points and building profit margin. (e.g. range of private brands, innovation to cover white spaces etc.)  ▶ Obtaining from manufacturers the exclusive products and brands and adapting to meet price points, drive differentiation and support their positioning ▶ Customizing communication and promotions to specific shoppers through the use of technology and #shopperinsights (e.g. leveraging their loyalty card data or purchase history) 4️⃣ Optimizing their #businessmodels to improve #ROI and adapt offerings ▶ Decentralizing decisions to improve local shopper and competitive knowledge, and speed up decision-making ▶ Franchising stores as a way to improve local knowledge, but also cut structural costs and reduce risks during expansion. ▶ Developing innovative supply chain and operational models to cut costs For deeper insights or to train your #salesandmarketing teams on #customermanagement best practice, mail us at hello@boilingpoint212.com Till then, stay tuned👍

Christmas Shopping Concerns: Inflation and Competition Top Retailers' Worries With Christmas just around the corner, a new study by Chain Store Age sheds light on the top concerns for retailers: - Inflation's Bite: Rising inflation is retailers' biggest worry, with the potential to dampen consumer spending power. - Competition Heats Up: The ever-present threat of online marketplaces like TikTok Shop is keeping retailers on their toes. - Inventory Management Woes: Supply chain disruptions and fluctuating consumer demand make inventory management a challenge. The report highlights strategies for success: - Focus on Value: Consumers are likely to be more price-conscious. Highlight promotions and deals to attract budget-minded shoppers. - Omnichannel Optimization: Seamless integration of online and in-store experiences is crucial. - Invest in Loyalty Programs: Strong loyalty programs can incentivize repeat purchases and build customer relationships. How can retailers navigate these challenges and win over Christmas shoppers? https://ow.ly/xU5f50SIRiH #Retail #HolidayShopping #Marketing

We're currently at the height of the retail apocalypse with many retailers filing for bankruptcy. 💻 Instead of shopping at large retail stores, consumers in this post-pandemic world are favoring the convenience of ecommerce shopping on Amazon or DTC sites. 🏆 The retailers that are succeeding are the ones that are partnering with DTC brands. 📈 They are expanding their ecommerce presence, appealing to younger consumers with optimized product assortments, and using data-backed insights to add emerging DTC brands to their stores. ➡ In this report, we’ve outlined success stories and tangible strategies for how retailers can use data-backed insights to partner with DTC brands to grow sales and achieve success. Download the free report: https://lnkd.in/ej-NDTUU #retailgrowth #merchandising #dtcdata #ecommerceanalytics 

Retailers are filing for bankruptcy right and left. How can you avoid the retail apocalypse? Partner with DTC brands. In this free report, Charm.io outlines how you can:  💻 Expand your ecommerce presence  📦 Appeal to younger consumers with optimized product assortments  📈 Use data-backed insights to add emerging DTC brands to your store Download the report & learn how to partner with DTC brands to grow sales and achieve success. https://lnkd.in/g9tNEkgU #retailgrowth #merchandising #dtcdata #ecommerceanalytics

We're currently at the height of the retail apocalypse with many retailers filing for bankruptcy. Instead of shopping at large retail stores, consumers in this post-pandemic world are favoring the convenience of ecommerce shopping on Amazon or DTC sites. The retailers that are succeeding are the ones that are partnering with DTC brands. They are expanding their ecommerce presence, appealing to younger consumers with optimized product assortments, and using data-backed insights to add emerging DTC brands to their stores. In this report, we’ve outlined success stories and tangible strategies for how retailers can use data-backed insights to partner with DTC brands to grow sales and achieve success. https://hubs.ly/Q02Kdfzh0 #retailgrowth #merchandising #dtcdata #ecommerceanalytics

We’re forecasting Walmart to slightly outpace the U.S. retail market, entirely driven by eCommerce. eCommerce is expected to account for 70% (!) of Walmart’s dollar growth this year, up from 56% in 2023. Two key action items for suppliers: 1️⃣ For starters, you need to know the breakdown of growth for your own brand. This is way more impactful than fixating on digital penetration alone. (And btw, you’ll need Luminate Charter to see this granular level of detail.) 2️⃣ Then, you need to align your strategy for growth. Sure, eCommerce may still only account for a small percentage of your sales, but likely the large majority of the growth. Investments need to be right sized accordingly and you need a deep understanding of the digital levers available to you. Our 2Q quarterly business review on Walmart shares more details on our forecasts and the omnichannel tactics needed for success – spanning Walmart Connect, Luminate, 3P marketplace, measurement, and more. The QBR will hit Stratably Premium members’ inboxes later this morning. If you want in on the action, sign up at stratably.com/join or DM me to learn about how we can help you win with your most important retail accounts, in the fastest-growing channel – digital.