Retail spending has increasingly turned toward customer-centric initiatives, including self-service coin counters. This is part of the plan to overhaul existing in-store layouts that approach design and marketing strategies that are based in outmoded, traditional schemes.
There's a growing sentiment in the retail industry, reflecting an interest in digital advertising that has a verifiable impact on in-store sales and traffic. Citing data from eMarketer, the American Marketing Association explained digital spending among consumer products companies is likely to reach $7 billion by 2018. For grocery stores, the evidence for this shift can be seen in electronic coupons delivered through SMS or email, social media sites that provide access to digital circulars and loyalty cards.
Supermarkets want to generate online traffic that translates into more in-store shoppers, but a big obstacle is consumer insight. While there's a lot of data tied to seeing how customers interact with digital marketing collateral, it can be difficult tying it to actual sales, reported Progressive Grocer. An alternative route that grocers should take is gathering in-store information and connecting it with online insights to bridge the gap.
For instance, supermarkets that have integrated self-service coin counters have frequently found there's increased traffic from individuals bringing in their loose change to exchange it for paper bills. However, retailers can go beyond this to track what purchases customers using coin counters tend to make after they've carried out the transaction. This type of data can help grocers develop more powerful marketing strategies based on in-store traffic.
While there's bound to be a rise in sales from customers coming in to use coin counters, supermarkets need to understand the actual data related to each customer. Accordingly, the merchant personalizes ads for specific customers based on the days they visit and average purchase amount after using the self-service technology. Automated messages could be sent while the shopper is in store to have the greatest impact.
January 15, 2015