Jun 7, 2023 17:00 BST
An independent research report, commissioned by Colateral and Taylor Corporation, that interviewed 225 leaders at multi-location retailers in the US and Canada has highlighted a technology gap. It found that 97% of retailers want to use technology to manage in-store marketing, but only 14% use tools more comprehensive than email and spreadsheets.
NORTH MANKATO, Minn., June 7, 2023 (Newswire.com)
The in-depth analysis report, conducted on behalf of Taylor Corporation and Colateral, Uncovering the Secrets of Successful In-Store Marketers, surfaces research conducted from interviews with 225 influential marketing leaders representing multi-store U.S. retail organizations in November 2022.
The report found that marketers need help adapting to recent changes in shopper behavior, with 62% needing to distribute localized materials to every location daily. However, 76% of retailers highlighted that producing one round of materials takes a lot of time and effort.
Dorian Spackman, Colateral CEO, highlighted that “with physical retail still accounting for 80% of purchases, retailers must maintain control of their in-store marketing and promotions. This new research demonstrates that in-store marketing is at a point where it needs significant investment to keep up with the changing landscape.”
Additionally, the report found that less than 50% of retailers have a process to ensure proper installation of marketing materials at each location, and only 29% of retailers know how much of the marketing materials they produce are used versus not used.
Spackman continued, “Retail media networks are growing significantly, but retailers are already waking up to the significant opportunity of commercializing physical retail spaces similarly. However, this is almost impossible if retailers don’t have complete visibility of their spaces, including when they are occupied, by whom, and the performance of their campaigns.”
Technology is the solution favored by most retailers, with 97% saying they would like to use technology to connect the shop floor to corporate headquarters. However, 86% said they rely on emails, spreadsheets, and docs to manage their in-store marketing materials.
Additional findings in the report include:
- The two most significant pain points when managing in-store promotion materials are (1) Communication between store managers and corporate (64%) and (2) Different stores needing different materials (59%).
- 85% of retailers provide guides to store managers to implement materials, but only 48% have a process for ensuring materials are implemented correctly, and 29% know when materials are used versus not used.
- 95% of retailers have a process for managing and approving artwork. However, 76% of retailers say it takes a lot or an extreme amount of time and effort to produce one round of marketing materials, and 72% of retailers must distribute campaigns at least weekly.
Download the full report here.
Colateral Ltd. enables multi-location retailers and brands to deliver localized on-brand marketing campaigns in every store. Our SaaS platform provides end-to-end control of in-store marketing campaigns, from briefing to implementation and analysis, with full traceability. Founded in 2015, we support over 10,000 stores for leading retailers, brands, and financial services companies across the UK, Europe, and North America.
Source: Colateral Ltd.