Shannon Blandford

Selection bias is at the root of so many bad decisions in retail. Here are three claims I’ve actually heard over the years from either tech vendors pushing their solutions or brand execs blowing their own horn: 1. “Our loyalty program members spend X% more than non-members, so our loyalty program drives higher LTV.” No, it doesn’t. Most likely, what’s happening is that your heavy buyers are enrolling in your loyalty program to get discounts on products they were previously buying at full price. 2. “AOV on our mobile app is X% higher than on our website, so our mobile app drives higher AOV.” No, it doesn’t. Again, what’s probably happening is that the only people motivated enough to download your mobile app are customers who were highly loyal to your brand in the first place. (Also, if you’re running any app-specific promos, see the point above.) 3. “Our post-purchase surveys show that customers come from <insert random channel>, so we’ll double down on our investment there.” I… don’t even know where to begin with this one. When you put it like this, the problem is obvious. Unfortunately, reality is much more complicated than a LinkedIn post, and while these conclusions may never be explicitly stated, they will still live rent-free in the minds of decision-makers if you leave them unchecked. There’s only one reliable, repeatable solution that I know of: Write. Things. Down. Having a system for going from hypothesis to conclusion to initiative is the only way to systematically minimize bias in decision-making. I would love to say “eliminate” instead of “minimize,” but that would be a bit too ambitious, not to mention unnecessary: as in most things, you don’t need to be perfect—you just need to be better than the other guy. #ecommerce #retail #strategy #decisionmaking #data

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Dollar General is enhancing its retail media program by teaming up with solutions provider Criteo. The commerce media platform will work with the retailer's Dollar General Media Network (DGMN) arm to support onsite sponsored ad offerings. Through this arrangement, brand partners can access inventory and campaign execution and utilize Criteo’s self-service demand-side platform. Among other capabilities, brands can leverage DGMN’s inventory within their private market through Criteo’s retailer monetization platform. In addition, the technology enables brands to reach Dollar General’s digital customers who often build lists online before making their weekly in-store purchases. Omnichannel insights will be available for marketers to see if sales are taking place online or in-store. | Progressive Grocer https://lnkd.in/gATgumgr #retail #retailmedia #grocery #shoppers #media #digital

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Building on the success of the company’s VISPER solution, Birdzi, Inc. has launched VISPER Live with the aim of setting a new industry standard for shopper engagement and outreach. Capabilities of the AI-powered solution include: 𝗖𝘂𝘀𝘁𝗼𝗺 𝗔𝘂𝗱𝗶𝗲𝗻𝗰𝗲 𝗘𝗻𝗴𝗮𝗴𝗲𝗺𝗲𝗻𝘁: VISPER Live allows grocers to tailor unique outreach to custom audiences. While previous VISPER campaigns are typically two weeks long and focus on one core audience, VISPER Live runs continuously to generate new campaigns and engage with multiple defined audiences on a weekly basis. 𝗜𝗻𝘁𝗲𝗹𝗹𝗶𝗴𝗲𝗻𝘁𝗹𝘆 𝗥𝗲𝘀𝗽𝗼𝗻𝘀𝗶𝘃𝗲 𝗖𝗮𝗺𝗽𝗮𝗶𝗴𝗻𝘀: VISPER Live campaigns are more advanced and responsive to customer preferences. Leveraging a retailer’s entire catalog, historical purchasing patterns and proprietary KIC scores, an individualized shopper quality index developed by Birdzi, VISPER Live can generate the most valuable promotions for each shopper. Personalized offers seamlessly appear in both mobile and desktop coupon galleries, allowing shoppers to access their discounts in a convenient and efficient way. 𝗖𝗼𝗺𝗽𝗹𝗲𝘁𝗲 𝗥𝗲𝘁𝗮𝗶𝗹𝗲𝗿 𝗖𝗼𝗻𝘁𝗿𝗼𝗹: Brands retain full control over how VISPER Live runs within their operations, ensuring that the solution can be thoughtfully molded to a retailer’s specific goals and needs. | Progressive Grocer https://lnkd.in/gecx5WbY #retail #supermarkets #AI #artificialintelligence #shoppers #grocery

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In today's rapidly evolving digital landscape, retailers like Walmart and Ulta Beauty are embracing innovative technologies, even when the path to success may not be immediately clear. Walmart's "Walmart Realm" and Ulta's "House of Joy" on Roblox demonstrate a forward-thinking approach to engaging with younger audiences who are increasingly active in virtual spaces. These initiatives highlight the importance of staying ahead of consumer behavior trends and exploring new platforms, such as the metaverse, to build lasting connections with future customers. For retailers and consumer brands, prioritizing strategic initiatives in emerging technologies requires a focus on understanding where their audience is headed and being willing to experiment. While the ROI may not be immediate, these efforts can provide valuable insights into customer preferences and behaviors. Companies should consider aligning these initiatives with their broader brand goals, investing in partnerships with influencers and creators who resonate with their target demographics, and remaining agile to adapt as new opportunities arise. By doing so, they position themselves as leaders in innovation and ensure they are ready to meet the demands of tomorrow's consumers. #RetailInnovation #FutureTrends #DigitalTransformation #MetaverseMarketing #CustomerEngagement #StrategicInitiatives #InnovationLeadership #GenZConsumers #EmergingTechnologies #BrandStrategy

Consumers are not spending with their feelings, but with their wallet The National Retail Federation's (NRF) 2024 Consumer Data Panel brought together leading industry experts to discuss the evolving landscape of retail. With Suzy Davidkhanian, Jonathan Silver, Mark Mathews, and Katherine Cullen sharing their insights, the panel provided a comprehensive overview of the current state and future trends in retail. This article delves into key points from the discussion, offering a holistic view for C-level executives exploring AI strategy, digital strategy, data strategy, and cybersecurity posture. #NRF2024 https://lnkd.in/ewwEggKK

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Consumers are not spending with their feelings, but with their wallet The National Retail Federation's (NRF) 2024 Consumer Data Panel brought together leading industry experts to discuss the evolving landscape of retail. With Suzy Davidkhanian, Jonathan Silver, Mark Mathews, and Katherine Cullen sharing their insights, the panel provided a comprehensive overview of the current state and future trends in retail. This article delves into key points from the discussion, offering a holistic view for C-level executives exploring AI strategy, digital strategy, data strategy, and cybersecurity posture. #NRF2024 https://lnkd.in/ewwEggKK

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Another AVN season in the books (exhale). Not surprisingly, 72% of brands faced some level of challenges within their negotiations compared to 15% citing collaborative or efficient AVNs. 14% haven’t resolved their AVNs yet. According to our benchmarking, negotiating favorable terms is the #1 challenge brands face during AVNs. What challenges did you face within your AVN? And are you curious how your Amazon AVN experience, terms, and profitability compare your peers? Join me and Martin Heubel next Tuesday 6/25 where we’ll dig into the full results from our AVN Wrap-Up survey of 250+ brands. Register here: https://lnkd.in/eAD48b_g We’ll be covering: ✅ AVN intensity ✅ 2024 trade term %s ✅ AVN impact to brands’ margins ✅ Key profit levers for the year ahead ✅ and a chance to ask ALL your AVN questions! A must-attend for 1P vendors. See you there!

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Grocery TV has partnered with Hy-Vee, Inc. to power in-store retail media across 10,000+ screens in 400+ locations. This collaboration will help brands reach millions of shoppers with high-impact digital advertising, while Hy-Vee enhances its retail media execution and shopper experience. This partnership exemplifies innovation in retail media, enabling brands to engage shoppers at key touchpoints. Path to Purchase Institute #RetailMedia #CPGMarketing A. Micah Mills Check out the story here: https://lnkd.in/eyvccnY6

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TRENDING ARTICLE: Retail Media Networks Set to Forever Transform Loyalty and Consumer Engagements https://lnkd.in/gpviYHnR In 2023, Amazon generated $46.9 billion from advertising. This compares to Walmart at $3.4 billion and Target and Instacart, both earning more than $1 billion. #retail #innovation #leadership

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My interview with Lowe's Companies, Inc. SVP of Marketing, Jennifer Wilson, highlights the true value of consumer data. The new MyLowe's loyalty program incentivizes and even gamifies the capture of customer preferences ahead of making purchases. Which accelerates personalization and the overall performance of the program. Listen here: https://lnkd.in/gz8A3qUa #podcast #marketing #loyalty

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Walmart has reported strong earnings in the first quarter, with a 6% year-over-year improvement in sales and growing profits. The retailer has seen traction among higher-income shoppers, although it is not specifically targeting this demographic. Walmart is investing in renovating its stores and building new locations to create a more inviting shopping experience. The company is expanding its product selection, including the launch of its premium private label brand Bettergoods, and has seen a significant increase in third-party marketplace sellers. The convenience of e-commerce, particularly through delivery and curbside orders, is contributing to sales growth. Walmart's combination of nicer stores, upscale merchandise, and convenient services is making it resemble Target. Target, on the other hand, has projected a decline in sales and has faced criticism over its handling of its annual Pride celebration. Walmart's success in emulating Target is surpassing Target's success in emulating Walmart. Walmart continues to be effective in its core business while also improving its performance in areas traditionally associated with Target. #walmart #target #retail

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Had a great chance to speak on the topic of Embracing Tech with Erin Del Conte, Adi Dhandhania, CFA and Mike Templeton 📲🏪 today for CStore Decisions. Wonderful to hear about what small retailers, larger retailers and the overall retail space thinks about digital integration, mobile apps, loyalty programs, omnichannel and unified commerce to augment their in-store and out-of-store experience. The topics that were discussed in depth were: 1) How the industry is shifting. 2) What’s driving the adoption of digital integration. 3) How a big national chain like 7-Eleven and a small regional chain like Neon Marketplace are each finding success with digitalization 🔗 https://lnkd.in/gNP2Di3z #7eleven #cstores #conveniencestores #digital #webinar #innovation

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