Is technology the key to the future for brands in convenience?
18 August 2021
Author: Kirsty Whyte
Data from a 2019 survey by Lumina Intelligence indicates retail app popularity is on the rise for consumers, retailers and brands alike. In addition, retailers ordering products online is growing at an extraordinary rate. The data shows that of those retailers whose primary route to market is delivered, 98% say their main method for ordering is online – in 2008 this figure was just 24%! In 2019, within the B2B online ordering space, apps were estimated to account for up to 30% of sales... so how has this changed since Covid?
Technology is a trend that has typically been adopted at a relatively slow pace when it comes to Convenience retail, but everything has changed since Covid-19. Trends have been accelerated, consumer behaviour has adapted, expectations have also evolved, and shopping local has become normal once again.
As consumers turn to their screens to order product and engage with brands, so too do retailers, which makes retailers even more accessible to brands than ever before. New technologies can assist with this, allowing brands access to a pool of engaged convenience retailers, all on one platform.
Convenience analytics is another area which is relatively new but that will prove to be a game-changer for continued growth. The ability to access a large set of symbol and independent EPOS data on one platform is something that could change the way brands operate.
Already achieving results in grocery, is it time for brands to adopt data analytics into their convenience strategies too?
Our Thumbprint Managing Director, Gordon Neil comments on the future opportunities for brands and retailers in this space “In data, the world’s becoming more about predictive analytics. If you take our product DART as an example, we’ve used reactive analytics to identify where the biggest opportunities are and send people in store or work with people in head office to fix those across Grocery and Formats. As we’ve evolved the product it’s become more about predictive, looking in to using the data to predict what’s going to be happening in the future and to effectively close gaps before they even happen.
In the data space, another thing that is going to happen is continuous growth and availability of data in the convenience sector. With our new product Pinpoint – an EPOS data analytics tool for convenience - we cover all symbol groups and a large percentage of independents across the entire UK
In the digital space, it’s mainly about how do you reach a bigger audience more frequently through digital applications? Our app MyStore+ is a great example of that as field sales will always play a key role. The apps allow you to connect with retailers in completely different ways and influence more of them, more often. I predict that this type of technology will continue to grow and influence other sectors. We will see a mix of different resource types – field sales where you walk through the door of an outlet, telesales and digital. It’s all about how we continue to grow this and continue to influence brands to adopt these technologies. “
So, if you’re a brand looking to engage digitally with retailers, don’t go it alone! Talk to us about our digital products and how they can help you get your brand and product into convenience stores throughout the country.