Sometimes, the ingredient declaration is just not enough to answer the long asked consumer question, “what’s in our food?”. Now, more and more people want to know what ingredients are and why they are being used in addition to the statement of their presence. However, it can be difficult for them to find reliable information. When searching for an ingredient, there can be an overwhelming amount of results, some of which are not reliable, but may appear above other more reliable resources. Obviously, this information is too much to print on a package, so it can be difficult for brands to provide this information in a manner that is easy for customers to find.
The news this week starts off with 3 more acquisition announcements that our team found particularly interesting in the news this week. The acquisitions point to the disruption that is taking place across the industry, representing activity by a retailer (walmart), a CPG Brand (Unilever), and a 3rd party solution provider (Syndigo). Following from the acquisition news the team found news articles related to non traditional foods interesting and they found and shared posts around pickle chips and meatless hamburgers - for some reason. Lastly the list of curated news ended up with an informative article about the challenges of large retailers making the change to support e-commerce. In this case it was a fairly detailed exploration of Kroger's challenges. Definitely worth a read. Hope you had a great Easter weekend. Have a great week ahead. Walmart acquires ad-tech startup Polymorph to capture more brand dollars - marketingdive.com Walmart has acquired Polymorph Labs, which offers a cloud-based ad serving platform, in a deal whose terms were not disclosed, according to a blog post by the retailer. Polymorph's founders, product developers and engineers will join Walmart Media Group and Walmart Labs. (curated by @davebyman)
We wrap up this week with a video that discusses the evolution of Category Management practice over the last 3 decades, and explores whether Category Management is working presently. “If all you have is a hammer, then everything starts to look like a nail" – Marc Childs, principal of Childs Davidson Limited The high level coverage of the evolution of Category Management is very helpful context for those that may not be aware of how we got to where we are. The second part of the video discusses Category Strategy, and how this, in differentiation from category management, can help to move retailers and brands forward more productively by giving category management some focus and guidelines, therefore aligning category captains and insights within a framework. It seems clear that to get to the future of grocery retail, there needs to be significant further evolution of the category management practice. It's fascinating to watch this space to see those changes coming. I hope this helped give you a slightly new perspective. Have a good weekend.
There are 4 key returns on investment (ROI) stories that we help our customers to understand before they make a decision about LabelSync. All can be found here, outlined on the LabelSync solution page. Today we’re going to dive into “Improved Operational Efficiency” to better understand how and why a CPG manufacturer would get a return on their investment in LabelSync. Who is LabelSync for? To start with, LabelSync is a best-in-class solution that helps CPG manufacturers and brands manage their product data for digital transparency. The LabelSync solution is for brands who want to finally solve their digital product data challenge, after years of struggling to create, verify, and manage product data that meets all needs. LabelSync is utilized for such use cases as best-in-class SmartLabel product data (there is an option to add on the pages for an all-in-one solution) but can also go beyond SmartLabel to power all digital product data initiatives.
This week we partake in some gratuitous self promotion with 3 posts published by some of the brightest among our team!!??!! The first is a post by yours truly, published in fooddive.com exploring how the consumer demand for transparency is changing the way we think about Category Management. The second is a guide to help brands with their SmartLabel decision making process, and the third is an exploration of how off-package attributes can change the way your brand is perceived in the market. The remaining articles this week are largely related to developments in retail and in particular e-commerce, exploring the space from both a trend and business model perspective as well as a user experience perspective. Hope this keeps you curious heading in to this week. Transparency and buying behavior are changing the game for category management - Fooddive.com The last several years have proven challenging for the CPG industry. With more emphasis than ever on convenience and experience, customers are demanding a personalized shopping experience. Busy shoppers no longer want to spend time walking down each aisle in the grocery store. That quest for convenience has driven many customers to buy groceries online. Nielsen and the Food Marketing Institute forecast that e-commerce could grow more than $100 billion from 2017 to 2025. This fundamental shift has created both a massive challenge and opportunity for CPG brands. (curated by @antonxavier)
Another video about Alibaba's Freshippo (formerly known as Hema) shopping experience in China. I'm a little obsessed about the new ideas and the connectedness of these stores. “If I have any questions at all about a product, I just scan and get the full ingredient list on my phone." – Alibaba I continue to get excited about the level of data competency that Alibaba displays in the Freshippo execution. In this video in particular the host talks about the importance of freshness using the example of how some fresh produce has a large "3" printed on the packaging so that you know it arrived and was packaged that day (Wednesday in the video) and is therefore fresh. The bringing forward and connecting of data competency, logistics innovation, and a digital shopping experience can truly change the way we shop. As you can tell, i remain very excited about the future of grocery. Have a good weekend.
It's no big secret that Millennials are more likely to purchase products from brands they feel a connection with. Even when we’re not actually shopping local, we crave insight into the lives of the people who created the products we use and consume. Millennials are interested not just in what you make, but how it’s made. In fact, a 2017 study done by graduate student researchers at the Fashion Institute of Technology found that 48% of Millennial consumers are more likely to buy from a brand if they know the people behind it, and recommend creating a “strong brand community” to target this subset of shoppers. Given the amount of research that has been done on the topic, it is no surprise that brands are clamoring to respond. But with limited space on product packaging, brands have had to think outside of the box, pun intended, to tell their brand's story. Hence, the rise of “off-package attributes.”
Everywhere we look these days, technology is driving change and growth. Phones are folding, groceries are being delivered to our doorsteps, and our parents are investing in digital currencies that may or may not be real. Not immune from change, Amazon’s acquisition of Whole Foods has added fuel to the fire of technology-driven change in the retail environments and the means in which we interact with food and everyday products. One example of this change is being driven by the GMA’s SmartLabel initiative, which allows customers to interact with a digital replica of their products in their hand via their SmartPhones to gain additional insights. As companies increasingly look to leverage technology to meet their goals, here are five questions to consider before participating in SmartLabel.
In last weeks post of "video of the week" we introduced a video about the "Hema" shopping experience - a new concept in grocery retail that is growing rapidly in China. This week we follow on from that with a video from Alibaba, the leaders in online commerce in China and their explanation about what the "Hema" stores are all about. “For Alibaba, the future isn't total domination of e-commerce, rather it is the complete digitization of ALL commerce that could be the key to saving retail. We call this NEW RETAIL" – Alibaba It is exciting to see this holistic vision being executed. It's also eye opening when we think about Omni-channel, and Transparency, and Digital Commerce vs Mobile Commerce, each individually as hurdles to overcome, we aren't really seeing the forest for the trees. A vision like Hema, takes complete, and connected data and systems to execute. No matter which way you look at the future of grocery commerce, it is, in the least, going to be interesting!! Hope you had a good week.
My name is John Veltri, and I am a product manager at Label Insight, responsible for the success of our joint offering, Nielsen Product Insider (NPI), as well as our solution offerings of using attributes for insight and category management. I’ve been with Label Insight for a bit over two years now, where prior to leading our product efforts for these use cases, I was responsible for other joint offerings Label Insight has with our connected partners. I’ve been working within the CPG, Retail and Analytics industry for the last seven years, and am incredibly passionate about using data to innovate and bring new offerings to market in this rapidly-evolving industry. In my day-to-day, I’m constantly thinking about ways we can make it easier and faster for our customers to realize insights about their category and see more value from using Label Insight data. This could mean anything from partnering with industry powerhouses such as Nielsen to integrate derived high-order attributes (HOAs) into a portfolio of advanced Analytics offerings, making it easier for Label Insight’s customers to join high-order attributes with other data sources in their data lakes, or making it easier to analyze data directly in our Explore platform.