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Hot dog straw. Yes, it is important to focus on sustainability in retail that is why the plastic straw has been replaced by paper straws. But what about a hot dog straw? Apparently, Oscar Mayer wants to launch a hot dog straw, perfect for sipping your cold beer at the game.
Drink irresponsibly. You know how every alcoholic beverage campaign recommends you to drink responsibly? Well, this non-alcoholic beverage is telling you to do otherwise. In an effort to promote non-alcoholic beverages and remove the “stigma” that people who do not drink have, Wunderman Thompson created a different campaign for Cold ones.
Technology for retail
Tech budget. A survey by Honeywell indicates that budget constraints are the primary obstacle to adopting emerging technologies for 25% of retail industry leaders. Demonstrating the business value of these technologies is a challenge for almost a third of leaders, while a lack of in-house expertise hinders adoption for 20%. Nonetheless, over a third of respondents noted significant usage of emerging tech in their companies, with AI, machine learning, and computer vision anticipated to have the greatest impact on the industry in the near future.
Grocery and AI. A Deloitte survey reveals that over 40% of top-level executives in the grocery industry anticipate integrating generative artificial intelligence into their business operations by the close of 2023. The same proportion of respondents believes that generative AI holds the potential to make substantial financial contributions through revenue generation and cost savings. Grocers are particularly enthusiastic about employing this technology for customer interaction and loyalty-building, despite shopper concerns about its potential misuse by retailers.
Retail experts sharing knowledge
Retail grocery. Do you think the future of grocery retail will involve only Walmart, Target, and the final one or two remaining grocery supermarkets that have merged? If supermarkets expand their products to non-grocery items, would they be able to increase foot traffic, customer loyalty, and profit? These are the questions that various retail experts answered in one of Retail Wire’s discussions. Here is what Lisa Goller mentioned:
Advertising clutter. How would you rate product placement’s effectiveness in driving brand awareness and trial? Do you see product placement as more of a positive than negative for the TV and film viewing experience? Various retail experts answered these questions in one of Retail Wire’s discussions. Mark Self mentioned this:
In other news…
Peak season. Howard Meitiner, former president of Sephora USA and current managing director at Carl Marks Advisors, notes that predicting holiday season outcomes is challenging due to the ever-changing retail landscape. The accuracy of these predictions significantly impacts a company’s financial performance. However, the integration of AI will lead to winners and losers, as not all companies embrace it equally. In the face of this changing landscape, companies must prioritize customer loyalty, customer service, and adaptability to thrive.
Grocery and inflation. A survey by The Feedback Group reveals that over 50% of consumers are actively seeking to save money while grocery shopping by prioritizing sale items. They are also showing a growing interest in private label products, consulting paper and digital flyers, and comparing prices across different stores. Despite a reduction in the rate of price increases compared to the previous year, shoppers are still focused on avoiding inflationary impacts.