Using In-Store Grocery IoT For Better Marketing | PYMNTS.com
On July 4th, red, white and blue sheet cakes and cookies fill grocery aisles. But if those seasonal items don’t sell out that day, grocery stores will scramble to slash prices to move them before their expiration date. But what good are sales if the right consumers are unaware? In the latest Intelligence of Things Tracker, Michael Klein, director of retail, travel and hospitality at Adobe Labs, tells PYMNTS how analytics derived from in-store IoT tech can help grocery stores target promotions and increase sales without the creep factor.
Shoe sellers can dust off a pair of unsold sneakers and keep them on the shelf until they sell, but businesses like grocery stores don’t have that luxury. Instead, they must keep a tight focus on moving goods out the doors — especially items with an expiration date.
As such, grocers are turning to old retail standbys — sales and discounts — to help spur purchases, and for good reason. One 2017 survey found 38.5 percent of grocery shoppers would buy more if given coupons, and more than 39 percent would buy sooner.