One of the ways in which RetailNext helps manufacturers is through in-store concept testing. Let’s say that you are a producer of cranberry juice and want to understand whether you are better off placing your product in the juice aisle, the refrigerator aisle, or in the liquor aisle (to serve as a mixer of course). RetailNext can help you by designing and executing a study to measure the impact of the positioning across each aisle. Sure, you can just measure sales and call it a day. But before you make the change across thousands and thousands of stores, wouldn’t you like to know how the positioning is performing relative to the number of shoppers who are exposed to the product? Wouldn’t it be helpful to know how long customers engage with the product in each of the aisles and what the conversion rates are at different levels of engagement? In other words, wouldn’t it make sense to normalize for the environment before making such a big roll-out decision? We’re glad you said yes!
So, how can we help?
The first thing we do is understand what you are looking to test and where. We work alongside you to find the right retail environment to house the study. And because we work in real environments, rather than artificial lab environments, we are able to produce truly relevant insights.
We then design the study and draw the appropriate analytical regions within the store that will be measured. We continuously monitor the activity through our dashboard and can glean observational insights while the data are being collected. In other words, we are able to achieve an observation study while collecting the shopping patterns of thousands of customers.
Once the period of data collection is over, we provide you with an executive-friendly presentation with the results of your study. Some of the types of information you will be able to get are in the diagram below. Of course, there will be many more insights and slices and dices of data for your information consumption pleasure!
Hopefully we have piqued your interest enough to want to conduct your own study. If so, let us know!