MARKET WATCH
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3D Content Library for CPG in the Works
CPG brand owners and retailers in the U.S. will soon have quick and affordable access to a library of 3D models for consumer packaged goods (CPG) products. The 3D content library is the result of a collaboration between Gladson, provider of e-content and syndicated product databases for the CPG industry, and Red Dot Square, which has a system to create 3D models from 2D product images.
The 3D content library - an industry first - enables the CPG industry to use virtual reality technology to plan merchandising and shopper marketing programs and to conduct market research.
The growth in popularity of virtual reality technology in the CPG industry has been tempered by the time and expense required to create 3D models for each project. Together, Gladson and Red Dot Square aim to address these obstacles by delivering affordable 3D models at unprecedented speed. The solution combines Gladson’s database of hundreds of thousands of products and its industry-leading process for capturing product images and attributes with Red Dot Square’s system for creating 3D models from 2D product images. These models will be available in platform-agnostic, industry-standard formats, and a format that is optimized for the Red Dot Square virtual reality platform.
“Our manufacturer and retailer customers are increasingly interested in using virtual reality to speed the time to shelf for new products and new merchandising programs. Gladson’s 3D library builds on decades of experience creating digital content and will help our customers make even more use of this innovative technology to grow their businesses,” said Gladson President and CEO Sue Sentell.
Costco Tops List of Financially Promising Pure-Play Brands
Costco, the warehouse club operator, is the country’s most financially promising pure play brand based on new Brand Equity Relationship Assessment (BERA) findings from Vision Critical, provider of insight community technologies.
BERA platform provides brands with voice of the market, voice of the customer, valuation and investment analytics. When combined with Vision Critical Insight Communities, BERA is able to dive even deeper by enabling in-market testing and offering visibility into what marketing mix levers brands need to pull for optimal results.
Other brands in the top ten are: Cisco, Movado, Columbia, Coach, Michael Kors, LG, Amazon, Electronic Arts and Adobe.
BERA took a snapshot of pure play brands to find that Costco presently tops the list in having a positive brand relationship and is best positioned for future financial success. Respondents weighed in on whether or not they would consider buying from a brand and if they felt the brand has a positive future. Consumer insights were then linked with financial data, captured from publically available corporate financial information, to estimate brand worth.
New TPM System for Dr. Fresh
Dr. Fresh, one of the fastest growing oral care companies in the U.S., desired a more strategic and proactive process for managing trade promotions. The Los-Angles-based company offers consumers more than 250 affordable personal care products with distribution in over 35 countries worldwide.
The multinational company will manage its trade spend activity using the TradePro Retail Trade Promotion Management (TPM) solution from AFS Technologies. The TPM tool will empower the manufacturer with a centralized system to plan, forecast and analyze trade dollars more effectively. In addition, Dr. Fresh will have the ability to automate deductions and expedite settlements more efficiently. Overall, the move will enable Dr. Fresh to improve business operations and sustain a strong competitive advantage in the oral care category.
VideoMining Corp. Strengthens Executive Staff
VideoMining Corp., the leading provider of in-store intelligence for retailers and consumer packaged goods manufacturers, has announced executive appointments for its new Client Solutions division. Priya Baboo has been promoted to President, Client Solutions, and Matt Wheeler has joined the company as Vice President, Client Solutions, based in Chicago.
Baboo moves into the role of President of Client Solutions from her previous role as the head of the Shopper Insights & Strategy at VideoMining. In the new role, she will lead a geographically distributed team that is responsible for building and maintaining relationships with CPG and retailer clients, understanding their shopper marketing needs, and making final presentations and recommendations
Wheeler is an accomplished leader who has been consistently recognized for performance and achievement within the CPG industry. A solutions-oriented executive with vast experience, he has a diverse background and a solid track record of developing strategies and providing superior insights that drive business growth. He most recently was Vice President of Insights and Team Leader at Symphony IRI Group
“We are very excited about Client Solutions and these appointments, especially at a time when there is a strong industry need for creating standardized shopper metrics and solutions,” said Rajeev Sharma, Founder and CEO of VideoMining.
“Our goal with this move is to collaborate closely with our CPG and retailer clients to apply our breakthrough in-store measurement and analytics solutions to benefit different aspects of their business -Shopper Marketing, Category Management, Merchandizing, etc. - basically to incorporate the ‘voice of the shopper’ into their retail strategy,” he said.
CART Partners with National Grocers Association
The Center of Advancing Retail & Technology (CART) has formed a partnership with the National Grocers Association (NGA) to bring innovative solutions, research and industry best practices to the independent grocery retailer.
“Today’s retail environment is more competitive than ever. In order to succeed in the face of growing pressure from larger retail chains, independent retailers must have access to the latest technologies, information, and resources as it relates to both business and customer intelligence. That’s where CART comes in,” said Gary Hawkins, executive director of CART.
Learning will take place at a network of real retail locations throughout different markets, and the findings will be accessible to NGA members.
GS1 US Celebrates 40 Years of Barcode and Standards
This month markets the 40th anniversary that organizations united to adopt a universal way to conduct business using GS1 Standards. Beginning with a U.P.C. (Universal Product Code) barcode, the GS1 System of Standards has set the foundation for a technological revolution that has changed the way companies, from manufacturers to retailers, conduct business around the world. Now, more than five billion GS1 barcodes are scanned every day.
In the 40 years since their adoption, GS1 Standards have grown into a global system, used by more than two million companies doing business in 150 countries across 25 industries, including apparel and general merchandise, fresh foods, consumer packaged goods, grocery, foodservice, healthcare, and defense. Introduced to speed the supermarket checkout process, the grocery retail industry was the first champion of standards in 1973. Today, supply chains representing nearly every sector in the world rely on GS1 Standards for identifying, capturing, and sharing information about goods, services, locations, and more in real-time. Barcodes and Electronic Product Code (EPC) enabled radio frequency identification (RFID) have evolved to capture a broad range of information to drive supply chain visibility.
“Trading partners use our standards to share many complex pieces of data globally in order to transact business, and they need to be able to automate these business processes to reduce cost, human error, or improve safety and interoperability of systems,” said Bob Carpenter, president and chief executive officer of GS1 US. “For example, manufacturers and distributors must communicate product information and company location, at minimum. A common language and globally accepted standards are essential for trading partners to be able to understand each other, conduct business one way around the world, and collaborate efficiently.”
Shopper Technology Enhances Efficiency: Retail Designer
The rise of free shipping, mobile retail, “show-rooming” and the like means that stores are now just one of many different purchase options. But this does not mean technology should be considered a death knell for brick and mortar, says Joseph Bona, President of Branded Environments at CBX, a brand agency and retail design consultancy.
“To be sure, the pressure is on for stores to be more meaningful and experiential,” he said. “But the digital sphere has actually enhanced brick-and-mortar operations because it has allowed retailers to connect with consumers in ways they never could before. This translates into incremental purchases, long-term loyalty-building opportunities and other benefits,” said Bona in a recent presentation on retail design in Chicago at Global Shop, the annual retail design and shopper marketing show.
Macy’s and other chains are now using brick-and-mortar assets as shipping and distribution centers for online orders, in-store pickups and same-day delivery, he pointed out. “Such channel-neutral strategies, sometimes dubbed ‘omni-channel retail,’ are empowering retail companies to react more nimbly to the marketplace. Technology is helping retailers to become dramatically more efficient,” he said.
Shoppers Want More Personalization and Mobile Services
American and European consumers are eager for mobile interactions as part of their overall grocery shopping experience, says a new survey from Symphony EYC, provider of customer-driven retailing software and services.
The poll identified three key shopping trends:
- Personalization - Shoppers want to be recognized when they walk into a store, receive individualized offers and manage retail loyalty programs via their mobiles.
- Mobile Services - Majority of shoppers want to use their mobiles to compare prices in-store, locate products and provide feedback.
- Mobile Shopping - Despite thirst for mobile services, very few shoppers are actually using their mobiles to buy groceries.
“While American and European grocery shoppers differ in how they are interacting with their grocers, the majority would like to enhance their in-store shopping experience with mobile services,” said Ellen Dixon, Global Senior Vice President of Marketing, Symphony EYC. “In particular, shoppers want to be able to use their mobile devices to locate specific products within the store, to compare prices with those elsewhere and to provide feedback and suggestions on grocery assortments.”
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