What happens in Vegas doesn’t always stay in Vegas, especially when it comes to the groundbreaking insights from Groceryshop 2024! This year’s event was a whirlwind of innovation, inspiration, and invaluable networking. From fantastic speakers to retail leaders and one of the best venues in the world, Groceryshop 2024 was truly unforgettable. And let’s not forget, TruRating’s very own CEO and co-founder Georgina Nelson took the stage by storm!
The future of retail media
George kicked off her session with a bang, asking the audience, “Do you know how many people saw adverts in your stores this week?” This question set the stage for a deep dive into the challenges and opportunities of in-store retail media. She emphasized that effective personalization doesn’t require extensive personal data. “You don’t need to know someone’s name and address to provide relevant offers and value to the customer,” she said. The focus should be on delivering meaningful, context-driven experiences.
George also highlighted the importance of measurement and ROI, especially for retail media teams. “Grocery is leading the way, but expect segments like apparel and beauty to join soon,” she predicted, pointing to a broader retail media revolution. She pointed out the limitations of relying solely on sales data, reinforcing the need for nuanced, in-the-moment feedback. TruRating’s integration with payment terminals captures real-time feedback, providing actionable insights for retail media teams and CPG partners alike. George shared compelling case studies, such as a major soft drinks company using TruRating to refine their product mix based on customer preferences for chilled versus room temperature water.
Beyond sales figures
George illustrated how TruRating’s integration with payment terminals captures real-time feedback, providing actionable insights for retail media teams and CPG partners alike. TruRating has achieved over half a billion ratings, with around 80% of global enterprise payments companies on board1. The ROI of exceptional experiences is about higher customer lifetime value, for some retailers that could amount to a multi-million dollar revenue opportunity for improving the lowest-performing stores1.
TruRating’s average response rate is 88%, providing a broad and accurate view of customer feedback1. This high response rate is crucial for getting more data and seeing in-the-moment trends, which helps in understanding consumer behavior and brand sentiment more deeply.
Spotlight on navigating the post-Cookie era
One of the most enlightening sessions at the event was a panel on adapting to the end of third-party cookies. Retail leaders shared how they are pivoting to zero- and first-party data to maintain and enhance customer engagement. Key insights from the panel included:
- Prabash Coswatte, Chief Operating Officer at Heritage Grocers Group, highlighted the importance of understanding customer origins and acculturation to better tailor product assortments2.
- Josh Evertsen, SVP of Customer Development at Mars Pet Nutrition North America, discussed robust pet parent research that revealed macro trends and helped refine product offerings3.
- Amy McClellan, EVP & Chief Customer Officer at SpartanNash, shared how digital engagement is driving customer loyalty and enhancing the shopping experience, emphasizing the need for robust mobile apps4.
The session underscored the shift toward leveraging direct customer interactions and unstructured data, such as social media feedback and reviews, to build more informed strategies.
Want more insights from TruRating? Join our next webinar on what consumers want in-store this holiday season – register now!
Useful resources
- Predictive analytics in retail – examples and strategies
- Retail pricing optimization – strategies, models and examples
- Business intelligence in the retail industry – strategies and trends
- Retail customer journey – how to create a retail customer journey map
- What is social proof and why is it important
