WHITEPAPER: Transforming CPG Retail Through In-Store Behavior Analytics
June 21, 2017
There are numerous ways in which digital advances have been disrupting the very core of CPG Retail. But at an even more basic level, the true forces of change within the CPG Retail industry are the shoppers themselves.
A collision of multiple trends has consolidated power in the hands of shoppers instead of retailers or CPG brands. Omnichannel pressures have transitioned into a true channel blur where shoppers are more likely than ever to use multiple channels to complete their shopping depending on their specific needs. At the same time, shoppers have less time to dedicate to shopping, so they are more likely to rely on quick trips to the store or online shopping from their mobile devices. Changing demographics and generational preferences also lead to drastically different and quickly evolving shopper behaviors and preferences.
Truly, the shopper now holds the most power in retail. This has led to retailers and solutions providers creating new digital avenues to take advantage of shifting shopper preferences in order to compete in this new environment. Digital platforms provide a level playing field for all types and sizes of retailers to carve out their own niche and win shoppers through memorable shopping experiences.
This whitepaper will identify the specific areas where brick-and-mortar retail has lagged behind online retail in shopper measurement and analytics, explain how using new technology for in-store behavior analytics will address these gaps, providing a platform for transforming CPG retail across a range of functions for both CPG retailers and manufacturers.