MARKET WATCH
SECTION ONE
SECTION TWO
 |
Shoppers to Stay Loyal to Value/Dollar Channel: Study
Roughly nine of ten shoppers in value/dollar stores plan to continue shopping the channel even if their current economic situation improves. That’s the key result from a new study from VideoMining Corp., the leading provider of in-store behavior analytics.
This result reflects increased loyalty in the channel, once thought of as a clearinghouse for unsold products, but steadily becoming a critical retail battleground for manufacturers with its own shopper base. The study also revealed greater frequency among shoppers, as 54% indicated that they increased shopping in the channel over the past year - twice that of the next highest channel.
These findings are the result of a nationwide survey, conducted by VideoMining late last year, of 2,500 nationwide Value and Dollar shoppers on all aspects of their shopping trips. Collectively, the results of the study are available in a report that offers an overview of shopper behaviors and points to numerous areas for growth and improvement in the channel, including information on specific retailers like Family Dollar, Dollar General, and Dollar Tree.
“We’re excited by the findings from this year’s study,” indicated Jeff Friedlaender, VideoMining’s President of Shopper Research. “It shows the continued growth of this key class of trade, and takes a deep look at the factors that are affecting conversion for these cost-conscious shoppers.”
The study also uncovered other intriguing findings about the way shoppers approach the channel. For instance, 80% of all Value/Dollar Store shoppers said they planned their trips in advance. Despite the destination status of the channel, shoppers remain open-minded, as more than half (51%) made their final brand-buying decisions in the store.
The report marks VideoMining’s initial industry-wide offering of its Value/Dollar Shopper Insights (VSI) program, which ultimately is expected to include a nationwide, behavioral MegaStudy of millions of in-store shoppers. Similar research was done by VideoMining in the Grocery and Convenience channels. Currently, the company offers custom in-store behavior testing of Value and Dollar shoppers, which can be combined with findings from the study for a complete view of channel shoppers.
For highlights from the VSI study, consult VSI at a Glance, a one-page summary of findings from the study. For additional information on the report or to order it, please contact Jeff Friedlaender at jfriedlaender@videomining.com or (914) 468-0808.
JICC Calls for Industry Comment on Retirement of Coupon Barcodes
The Joint Industry Coupon Committee (JICC) has issued a call for industry comments on its intent to initiate the GS1 Global Standards Management Process (GSMP) to retire the use of the GS1 UPC Prefix 5 and GS1/EAN Prefix 99 barcode symbols on all coupons issued in North America by June 30, 2015. The JICC will accept comments on its intention until June 16, 2014.
The JICC plans to submit a request to GS1 to retire the UPC Prefix 5 and GS1 Prefix 99 symbols from use as described in the GS1 General. Specifications to help move the industry toward exclusive use of the GS1 DataBar symbol on coupons (and away from hybrid formats containing both the DataBar and the UPC Prefix 5 or GS1 Prefix 99). In addition to coupon redemption efficiencies, exclusive use of the GS1 DataBar can reduce incidences of intentional coupon fraud and unintentional coupon mis-redemption.
To affirm its strategy, the JICC is inviting industry stakeholders to provide comments on the committee's plan to seek retirement of the UPC Prefix 5 and GS1/EAN Prefix 99 symbols on all coupons in North America. Stakeholders should submit comments to Jeanne Iglesias, senior director of industry affairs at GMA, by June 16, 2014, at JIglesias@gmaonline.org.
The JICC works to increase efficiency and effectiveness in the development, distribution and redemption of coupons. It is comprised of retailer and manufacturer executives who oversee coupon programs and is administered by the Food Marketing Institute, Grocery Manufacturers Association, National Association of Chain Drug Stores and National Grocers Associatio.
GS1 Connect Conference to Address Improving Supply Chain
Executives from more than 50 organizations in the grocery, retail, foodservice and healthcare industries, including The Coca-Cola Company, The Kroger Co., Eli Lilly and Company,Target, US Foods, and Walmart will headline the conference program at GS1 Connect. The conference and exhibit, themed “Reinventing Business,” will be hosted by GS1 US at the San Diego Marriott Marquis & Marina and the San Diego Convention Center June 8-12.
GS1 Connect 2014 provides an opportunity for attendees to explore how GS1 Standards can improve product traceability, operational efficiency, data quality, business growth and collaboration between trading partners. Offering five distinct tracks in Grocery, Retail, Foodservice, Healthcare, and GS1 Standards and Solutions, attendees will have the opportunity to learn best practices for leveraging GS1 Standards, and hear directly from industry leaders about how they are implementing standards to address critical business process needs.
“Every industry is experiencing a shift in the way they do business, and for many industries, innovation is being driven by organizations that must adapt to the digital world and modern-day consumers’ high expectations for complete and accurate information,” said Bob Carpenter, president and CEO of GS1 US. “GS1 Connect provides the opportunity to exchange ideas with peers, suppliers and customers.”
Among the tracks at the conference:
Grocery: Key topics in this track include the alignment of traceability processes across all food categories; case study implementations of GS1 Standards; a panel discussion on Global Data Synchronization Network (GDSN) use cases; fresh approaches to meeting customer needs; and the benefits of implementing Produce Traceability Initiative (PTI) recommendations. This track includes speakers from H-E-B, The Kroger Co., Meijer, McLane, The Nunes Company, SuperValu, Tanimura & Antle, Wakefern Food Corporation, Sam’s Club, Walmart and Wegmans.
Retail: This track offers a range of topics, including understanding e-commerce fulfillment models; the impact of omnichannel strategies on six key business functions; the resurgence of Collaborative Planning Forecasting Replenishment (CPFR); enhancing the customer experience using Radio Frequency Identification (RFID); data management; deploying rich online content with product and image attributes; and optimizing business processes with Electronic Data Interchange (EDI) for automated distribution center operations. Speakers in this track include experts from Best Buy, Bar Code Graphics, Brown Shoe, DiCentral, Dillard’s, Genesco, Hudson’s Bay Company(HBC)/Lord & Taylor, J. Renee Shoes, Lowe’s, Market Techniques & Innovations, Macy’s, Motorola Solutions, Nordstrom, Sears Holdings, Target, True Value and Zappos.com.
GS1 Connect 2014 is sponsored by The Coca-Cola Company and The J.M. Smucker Company.
IRI and GuestMetrics Form Exclusive Alliance
A new alliance between IRI and GuestMetrics offers the first integration of on-premise POS and off-premise point-of-sale (POS) data for a more complete view of the shopper. GuestMetrics is well known for capturing POS data virtually anywhere people consume a product on premise, particularly in the bar, restaurant, food service and hospitality sectors. IRI is also taking an equity position in the company.
Through this alliance, IRI clients will have the opportunity to access data on consumer purchases made on premise; for example, food purchased and consumed at a restaurant. This data will be integrated with the existing IRI off-premise purchase information for food and beverage products purchased at grocery stores, mass merchandisers and other retailers, and consumed at home. Marketers can study the impact of on-premise sales on off-premise purchase behavior, and more effectively coordinate activities to maximize the opportunities within both channels.
World Alliance Launches Gold Certification Program
World Alliance for Retail Excellence & Standards has launched its Gold Certification Program. It is the first of several initiatives designed to create system-wide improvements for the retail services industry.
The World Alliance Gold Certification Program provides a standardized, “no cost” solution to manufacturers and retailers working through the process of vetting out and selecting retail service providers while looking to protect their brand, minimize risk and deliver a positive customer experience. Being awarded Gold Certified status makes World Alliance members the first and only companies to receive such a designation in the retail service category.
Executive Director Tom Caddell said, “Since the Standard applies to management, operations, performance systems and processes, compliance demonstrates an organization is structured to deliver consistent, quality services that are designed to meet the customer’s needs and expectations. By identifying the standards that are indicative of quality retail service companies, we are providing a path of operational and managerial improvement for our member companies.”
For additional information, contact Rhonda Bauer, Senior Director, Marketing and Trade Relations, at 720-442-9011, ext. 102, or via email at rbauer@worldalliance-retail.org.
The association unites retail service providers, manufacturers, retailers and support service members in a global association marketplace exemplified by professionalism and high ethical standards
SECTION THREE
