AFB ( America’s Food Basket Supermarkets ) Massachusetts Locations | [ Website ]
Published by: Blue Label Weekly Magazine | [ Website ]Answering consumer needs increasingly means helping them easily procure the items they want and at desirable discounts. Analytics derived from in-store IoT technology can enable grocery stores to instantly target promotions to opted-in customers and increase sales without the creep factor.
With expiration dates being a heavy burden on grocery stores, keeping a tight focus on moving goods out the doors takes center stage. To help spur purchases, grocery stores have to resort to the old strategies of sales and discounts. Likewise, close to 60 percent of grocery shoppers suggest they would buy more if given coupons as a healthy 30 percent are currently using grocery store’s app to get better deals, discounts and price comparisons.
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Intelligence of Things (IoT) can provide a stronger solution yet to grocery stores by enabling them to better connect with customers, reduce inventory inefficiencies and increase revenue.
Personalizing ads for and connecting with the customers who are most likely to take advantage of special sales and/or coupon campaigns at the right time can make a huge difference.
That said, combining in-store IoT offerings with analytics, detailed consumer data, beacons, radio-frequency identification (RFID), Wi-Fi as well as CRM can help cast discounting and other time-sensitive marketing campaigns info to customers, thereby, provide a viable solution. To make this possible, customers opt-in by signing up with the store’s app, allowing the retailer to send promotions via notifications or SMS messages and detect where they are in the store. Likewise, retailers can utilize proximity marketing along with in-store digital displays to feature personalized promotional offers as participating consumers approach.
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Although some consumers are wary of privacy violations, a great percentage (70 % )of them is generally willing to trade information in exchange for valuable service (discounts, special access, events, services.) With privacy concerned addressed, info ( consumers’ purchasing histories, browsing behaviors, neighborhoods, birthdays and household income ranges, among other factors ) collected on these customers can be analyzed in order to extract actionable insights that can further be used to target the right customers.