VideoMining CEO Presents at 2018 CSP Cold Vault Forum
Rajeev Sharma, Founder & CEO of VideoMining, presented at the 2018 CSP Cold Vault Forum in Chicago. This conference brought together key c-store executives and solutions providers to take a deep look at the challenges and opportunities related to the Beverage department in c-stores, highlighting the critical importance of Beverages to the industry.
Sharma’s presentation, “Understanding the C-Store Beverage Shopper,” used VideoMining insights from the C-Store ShopperImpact (CSI) MegaStudy to focus on some of the key strengths and opportunities for Beverage strategies at c-stores. This includes trends such as Beer Caves, innovations in Wine and promotional tactics used across the industry to make retailers a destination for shoppers on specific trip missions.
The presentation included information on variations in Beverage performance with different demographics, dayparts and cross-purchases. For example, the CSI MegaStudy found that sales of Beer peak at around 5PM, but Beer shoppers skew younger later in the day. Retailers and vendors looking to improve performance in those dayparts must target the correct demographics in order to optimize their promotional activity.
Another area of concern for all c-store operators and vendors is the explosion of SKUs caused by new Beverage trends in areas such as RTD Tea, Sparkling Water, Enhanced Water, Kombucha and other better-for-you and natural/organic Beverages. While these trends can drive growth, the sheer number of SKUs in these areas can create a complex shopping experience. It’s crucial but difficult to balance meeting the needs of many shoppers while still maintaining a frictionless shopping experience.
For more information on the presentation or to learn more about the CSI MegaStudy that powers these insights, contact us.