Offline Attribution: The Missing Piece in Retail Media Networks
Offline Attribution: The Missing Piece in Retail Media Networks
Offline attribution is becoming an important concept in the modern retail landscape. In-store data can provide valuable insight into customer behavior, preferences, and buying habits, allowing retailers to make informed decisions on how to best serve their customers. In order for Retail Media Networks to measure the success of their in-store campaigns and return on investment for brands, it's essential to track the effectiveness of their campaigns. This is where Shoppermotion, the leading data and insights provider for retail media networks, comes in.
Shoppermotion provides retailers and brands with an unparalleled understanding of in-store purchasing habits, generating invaluable insights into who is shopping in their stores, where they're coming from, and how they're shopping. This proprietary technology enables tracking every shopper’s journey from the entrance to the checkouts. Tickets are linked to these paths at the point of sale and the in-store data is uploaded and integrated with Retail Media Networks through an API to provide in-depth insights. It allows retailers and brands to accurately measure the effectiveness of campaigns and provide data-driven recommendations for future Marketing Actions.
Example of a flowmap with the movement of one hundred customers in a store
Many other insights can be gained using this technology, including:
Product–level analytics
With in-store data, retailers are able to measure the conversion rate of every single product in the store and the conversion funnel. For instance, the number of customers that pass-by in front of the product, fraction that engages and how many ultimately pick up the product.
Also, this data enables the optimization of products placements and higher visibility on the pricing strategies and Path to Purchase definitions.
Shopper Profile–level analytics
Enriching shoppers profile with their in-store experience provides CRM with knowledge of potential sales. Missed opportunities allow retailers to identify how customers could have been enticed to buy more or stay longer in the store and retarget these customers accordingly.
Promotion–level analytics
Offline attribution allows retailers to measure in which part of the journey the shopper picked up a promoted product and compare the performance of secondary displays versus original locations.
Also, measuring the foot traffic in front of TVs and promotional displays enables brands to track the number of impacts, engagements, and conversions that in-store ads are creating.
Conclusion
Overall, retailers are able to gain access to valuable consumer data, such as offline attribution, in-store shopping journeys, missed opportunities, and Digital Signage conversion. As a result of all of these features combined, retailers gain a better understanding of their customers and can optimize their store layouts, promotions, and product offerings to maximize sales.
Come and have a chat with us at stand ST180 to discover how our in-store analytics technology can transform your Retail Media Network.
Shoppermotion is the premier Retail Intelligence solution trusted by top global grocery retailers in 25+ countries. Our cutting-edge technology tracks every step of the shopper experience in-store, seamlessly connecting in-store visits to point-of-sale transactions.
