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GroceryShop 2023 Day 2 Highlights: Driving Innovation and Transformation in Retail

The excitement continued to build on the second day of GroceryShop 2023 as industry leaders delved deeper into the dynamic landscape of retail innovation and the digital transformation of the grocery and Consumer Packaged Goods (CPG) sector.


Ben Miller, the Director of Original Content at GroceryShop, identified four key themes that defined the day’s discussions:

  • Shaping the Purchase Journey:
    • Retail Media Networks: The day kicked off with a focus on advancing Retail Media Networks and their potential to influence in-store purchasing through digital means. Experts emphasized the strategic use of digital media to guide shoppers along their purchase journey.
  • Harnessing Generative AI:
    • Transformative Potential: Generative AI emerged as a pivotal technology with transformative potential in the Grocery and CPG sector. Over 20 specific use cases tailored to the industry were identified, highlighting the need for robust data protection measures and a culture of experimentation to remain competitive.
  • Pursuing Efficiency and Productivity:
    • Adapting to Economic Realities: Businesses are reevaluating their technology strategies in response to the current economic climate. Prioritizing solutions that lower operational costs, enhance data capabilities, and support supplementary revenue streams is paramount.
  • Next-Generation Brick-and-Mortar Stores:
    • Digitizing Physical Retail: The journey towards the digitization of physical retail outlets continued, focusing on streamlining the shopping experience, reducing friction, and ensuring continuous customer engagement.

Here’s a glimpse into some of the captivating sessions that unfolded on Day 2:

Table of Contents

1- Mastering Shoppable Video- Featuring The Fresh Market and Saatchi & Saatchi X:

Both participants explored the potential for growth through shoppable videos and live-streams, highlighting how these immersive experiences are crafted to educate and inspire consumers, fostering a sense of urgency and exclusivity.

2- Breakthrough Physical Retail Experiences for Omnichannel Shoppers-Featuring Schnucks Markets and WD Partners:

The discussion revolved around effective partnerships centering around Retail Media Networks, which involve collaborations with local and regional grocers to create improved Retail Media Networks. This collaboration aims to connect retailers and enhance the consumer’s unified shopping experience.

3- Hiring and Upskilling Digital Talent-Featuring Cub and Save A Lot:

  • Luke Anderson, Chief Information Officer at Cub shared insights about the challenges of attracting tech talents in the retail industry. He emphasized the importance of a strong brand image and values to compensate for the allure of tech giants. The focus on curiosity and willingness to learn was highlighted, prioritizing adaptability over traditional qualifications.

 

  • Additionally, Jennifer Hopper, Chief Information Officer at Save A Lot discussed leading technology transformation through effective hiring methods aligned with the company’s vision and the development of communication-centric skill sets to enhance working environments.

4- New Capabilities Driving In-Store Efficiency and Inventory Visibility-Featuring SpartanNash:

In-store efficiency improvements through new technologies were showcased. It featured innovations like computer vision and smart packaging, offering real-time insights to streamline store operations and boost shelf visibility for retailers and CPG organizations

5- Using Omnichannel Data to Fuel Personalization-Featuring Peapod Digital Labs:

The significance of an omnichannel strategy in elevating the customer experience was discussed during the session. The discussion also delved into the use of data analytics for personalization, emphasizing customization across the customer journey.”

6- Deciphering Conflicting Consumer Data and Behaviors-Featuring 7-Eleven, 84.51° and Central Garden & Pet:

Managing Loyalty Adoption:
The discussion focused on overseeing the adoption journey of a loyalty program, emphasizing the importance of avoiding ‘zombie discounting’ and promoting new shopping behaviors.

 

Addressing Data Conflicts and Navigating Consumer Trends:
The session also delved into challenges related to conflicting consumer data and behavior, alongside exploring various concurrent and conflicting consumer trends, such as Saving vs. Indulgence, Price vs. Quality, Brand loyalty vs. Switching, E-commerce vs. In-store, and more.

Day 2 of GroceryShop 2023 continued to shape the future of grocery retail, with each session adding to the collective knowledge and inspiring innovation.

Stay tuned for more insights and updates as we journey through GroceryShop’s captivating event.

Founded by experienced data scientists and retail experts, Cognira is the leading artificial intelligence solutions provider.

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