Recent Developments in the Retail Industry: Vericast and other solutions
The retail industry is constantly evolving, with new technologies and strategies being developed to enhance the shopping experience and drive sales. One of the most impressive of late comes from Vericast and its collaboration with Intel to create a Pilot In-Store Retail Media Network.
This partnership between marketing company Vericast, and tech giant Intel, has designed, deployed, and tested a new programmatically enabled digital in-store retail media network. The network serves contextually relevant advertising and product information throughout the shopping experience.
“Whether a consumer is in the bread aisle or at the deli counter, Vericast is building the technology and know-how to engage with any consumer at any point on the path to purchase while respecting consumer privacy demands,” said Hans Fischmann, Vice President of Product Management at Vericast. “This revolutionary retail media network with a fully programmatic process enables brands to stay top of mind and engage with consumers during their purchase consideration, wherever they may be.”
This collaboration is part of a larger industry effort to modernize retail and tap into the digitization of the physical store. It comes at the perfect time in the market when retailers are looking to engage with customers in a more singnificant and specific manner without sacrificing thir privacy or in store experience. Vericast recently tested the network by piloting an advertising campaign for a global beverage company across 50 individually operated convenience stores in Dallas and New Orleans.
But they are not the only ones making strides in the industry, take a look at some other solutions being implemented:
EnsembleIQ Recognized for Career Growth Opportunities
EnsembleIQ, the parent company of the Path to Purchase Institute, has been recognized as one of the “Best Companies for Career Growth” by workplace evaluation firm Comparably. This honor was based on ratings voluntarily and anonymously submitted to Comparably by EIQ employees.
Neptune Retail Solutions to Acquire Quotient
Retail marketing firm Neptune Retail Solutions is acquiring Quotient Technology, the parent company of Coupons.com, for $430 million in cash. The merger will bring together Quotient’s technology platform, extensive digital promotions retail network, and proprietary data with Neptune’s broad in-store network and data-driven shopper marketing insights across in-store and print media.
AdsPostX Launches Solution to Serve More Relevant Ads
Seattle-based AdsPostX has launched OmniSDK, a solution enabling retailers to monetize behavioral and intent signals across a shopper’s journey. The solution factors in the most opportune moments to serve applicable ads and offers across the path to purchase and beyond.
Revolution Beauty Launches Fortnite Collection at Walmart
British-based cosmetics and skincare brand Revolution Beauty has joined forces with Epic Games to bring to market a “Fortnite” beauty collaboration inspired by the sandbox game. The limited-edition “Revolution Beauty x Fortnite” collection launched exclusively on May 27 at Walmart stores and online via the retailer’s website and RevolutionBeauty.com.
Wakefern Expands In-Store Retail Media
Wakefern Food Corp., the supermarket co-op and parent company of ShopRite, Price Chopper, and The Fresh Grocer, is expanding usage of Freeosk’s interactive sampling kiosks to increase its multisensory retail media activations in stores.
These developments highlight the ongoing innovation in the retail industry, as companies leverage technology and strategic partnerships to enhance the shopping experience and drive sales.
