Groceryshop 2024 - Preview

In keeping with tradition - I am doing a preview of the upcoming Groceryshop event in Vegas in October.

The preview covers what I think the themes of this year's pinnacle conference for the grocery industry are - as well as the not-to-be-missed keynotes.

Similarly to Shoptalk, I'll be pulling together my key takeaways of the event - so watch this space for that immediately following the event on October 9.

The grocery industry is undergoing a period of unprecedented change, and Groceryshop 2024 promises to be the vital event for 2024 for retailers and brands looking to stay ahead of the curve. This year's Groceryshop will dive deep into the key themes shaping the industry's future: the growing influence of retail media, the imperative for omnichannel strategies, and the responsible adoption of cutting-edge technologies like AI.

Emerging Trends & The Path Forward

The agenda for the sessions is vast and jam packed covering seizing opportunities in retail media, building resilient organizations, creating unified omni-channel experiences, strategies with AI, global spotlight into other regions, future of the convenience store, best in class digital capabilities and predictions.

It is great to see retail media dominating the conversation once again. I feel that the common themes amongst the 40+ keynote sessions are

Retail Media

• Explosive Growth: Retail media is experiencing explosive growth, fueled by the increasing digitization of the shopping experience and the desire for brands to reach shoppers at the point of purchase. This trend is set to continue, with retail media networks (RMNs) becoming an integral part of the marketing mix for brands across categories.
• Data-Driven Personalization: The ability to leverage shopper data to deliver personalized ads and product recommendations is a major draw for brands. Retailers are investing in advanced analytics and AI capabilities to enhance their targeting and personalization efforts.
• Expansion Beyond Digital: While retail media initially focused on online channels, it's expanding to encompass offline touchpoints as well. In-store displays, digital signage, and even packaging are being leveraged to deliver targeted advertising messages.

Omnichannel and Unified

• Seamless Customer Experiences: Consumers today expect a seamless and consistent experience across all channels, whether they're shopping online, in-store, or through a mobile app. Retailers are investing in omnichannel strategies to meet these expectations.
• Unified Data and Attribution: The ability to track and measure customer interactions across all channels is essential for understanding the true impact of marketing efforts. Unified data and attribution models are critical for optimizing omnichannel strategies.

Tech-Driven Transformation

• AI and Machine Learning: AI and machine learning are revolutionizing the grocery sector, from personalized product recommendations to demand forecasting and inventory management. These technologies are also being used to enhance the retail media experience for both brands and shoppers.
• Automation and Robotics: Automation and robotics are being used to streamline various aspects of the grocery business, from shelf stocking to order fulfillment. This can lead to increased efficiency, reduced costs, and improved customer experiences.
• Sustainability Technologies: The grocery industry is increasingly focused on sustainability, and technology is playing a key role in achieving these goals. From energy-efficient refrigeration systems to smart packaging that reduces waste, technology is helping retailers become more environmentally responsible.

Not-to-be-missed sessions (IMHO)

There is a lot of great content and sessions this year which touch on the themes above, but if you can only pick a few to attend - these are the ones I would make sure you attend (in no order)

Case Studies: Effective Offsite and In-Store Retail Media Activations

Mike Glaser (VP, Digital Commerce Marketing) at 百事

Neha Gupta Mallik (Head of Connected Commerce) at Mizkan America

Theme: Retail Media

Time: Mon Oct 7 | 2:55pm — 3:35pm PT

In today's omnichannel retail environment, consumers interact with brands across various touchpoints. Retail media 2.0 is often cited as the benefit of integrating offline and online retail media strategies to deliver a cohesive brand experience.

Importance to the Retailer:

• Expanding Revenue Streams: This keynote directly addresses the trend of retail media dominance by showcasing how retailers can expand their advertising offerings beyond their owned digital channels. By enabling brands to reach consumers on social media, connected TV, and search engines, retailers can unlock new revenue streams and increase the value proposition of their retail media networks.
• Enhancing the In-Store Experience: The focus on in-store activations aligns with the growing trend of merging online and offline experiences. Retailers can learn how to create engaging and interactive in-store displays that bridge the gap between the physical and digital worlds, driving shopper engagement and sales.

Importance to the Brand/Advertiser:

• Omnichannel Reach: Brands are increasingly seeking to connect with consumers across all touchpoints in their shopping journey. This keynote offers insights into how to effectively leverage a variety of channels to reach a wider audience and deliver a consistent brand message.
• Innovative In-Store Activations: Brands can gain inspiration from real-world case studies of successful in-store retail media campaigns. This can help them create unique and memorable experiences that capture shoppers' attention and drive brand awareness and loyalty.

Unified Retail Media Planning: Aligning Across Partners and Teams

?? Francesca Hahn (VP, Digital Commerce) at 亿滋食品

Udyan Khanna (VP, Marketing and Digital Commerce) at 味好美

Michal Geller (President, eCommerce and Digital) at 纽威品牌公司

Katherine Black (Partner) at 科尔尼

Theme: Retail Media

Time: Mon Oct 7 | 3:45pm — 4:25pm PT

As retail media budgets grow and encompass upper-funnel marketing, aligning internal teams and external partners becomes paramount.

Importance to the Retailer:

• Strengthening Partnerships: As retail media becomes more complex, retailers need to establish strong partnerships with brands and agencies.
• Maximizing ROI: Effective retail media planning requires coordination across various internal teams, such as marketing, sales, and merchandising. Retailers can learn how to streamline processes and optimize their retail media operations to drive better results for both themselves and their brand partners.

Importance to the Brand/Advertiser:

• Efficient Campaign Execution: Brands are often challenged by the need to coordinate multiple teams and partners when executing retail media campaigns.
• Building Stronger Relationships: Brands can learn how to build stronger and more productive relationships with retailers and media agencies. This can lead to better access to data and insights, improved campaign performance, and increased overall ROI.

Frameworks, Tactics, and Takeaways: Retail Media Capabilities that Satisfy Shoppers and Advertisers

Raquel Navarrski (Customer Vice President, NA eCommerce) at 通用磨坊

Chelsey Alexander (VP, New and Emerging Channels) at 拜耳

Sean Ransenberg (Managing Director, Retail Media and Brand Services) at H-E-B

Naomi Alford (Partner) at 贝恩公司

Theme: Retail Media

Time: Mon Oct 7 | 4:35pm — 5:15pm PT

This is the one not to miss. Sean Ransenberg is leading one of the 'best in class' retail media networks in the country. With hundreds of retail media networks competing for attention, differentiation is key. H-E-B Retail Media are doing some amazing and bleeding edge things. This keynote examines the capabilities and enhancements that retailers need to implement to stand out from the crowd.

Importance to the Retailer:

• Differentiating their Retail Media Network: With the proliferation of retail media networks, retailers need to differentiate their offerings to attract and retain brand partners.
• Balancing Brand Needs and Shopper Experience: Retailers must strike a delicate balance between providing valuable advertising opportunities for brands and ensuring a seamless and enjoyable shopping experience for consumers.

Importance to the Brand/Advertiser:

• Choosing the Right Retail Media Partner: Brands can gain a deeper understanding of the data, reporting, and services that they should expect from a retail media network. This can help them make informed decisions when choosing partners and ensure they're getting the most value for their investment.
• Advocating for their Needs: This keynote provides a platform for brands to voice their expectations and needs regarding retail media capabilities. By participating in the conversation, brands can influence the development of retail media networks and ensure their requirements are met.

Winning Ecommerce Strategies: Optimizing Fulfillment and Delivery

Dr. Oliver Vogt (Director, Strategy and Transformation) at 特易购公司

Greg Zeh (SVP and CIO) at Weis Markets

Daryl Porter (Senior Partner) at TOMORROW

Theme: Omnichannel and Unified

Time: Mon Oct 7 | 4:35pm — 5:15pm PT

Today's consumers demand flexibility and convenience in how they receive their groceries. This keynote tackles the complexities of ecommerce fulfillment and delivery, providing a framework for optimizing these processes.

Importance to the Retailer:

• Meeting Consumer Expectations: The omnichannel imperative demands that retailers provide a variety of fulfillment and delivery options to cater to diverse consumer preferences.
• Efficiency and Cost-Effectiveness: Optimizing fulfillment and delivery processes is critical for retailers to maintain profitability in the face of rising ecommerce operational costs.

Importance to the Brand/Advertiser:

• Seamless Shopping Experience: Brands benefit when their products are readily available and delivered seamlessly to consumers.
• Partnership Opportunities: Brands can gain insights into the latest ecommerce fulfillment and delivery trends and explore potential partnerships with retailers or third-party providers to enhance their own capabilities in this area.

Frameworks, Tactics, and Takeaways: Leveraging and Scaling AI Responsibly

Ramesh Kollepara (Global VP and CTO) at Kellanova

Sabrina McPherson (Managing Director and SVP) at Publicis Sapient

Theme: Tech-Driven Transformation

Time: Mon Oct 7 | 4:35pm — 5:15pm PT

AI's potential to transform the grocery industry is immense, but its adoption must be responsible and strategic.

Importance to the Retailer:

• Tech-Driven Transformation: AI and machine learning are transforming the retail landscape, and this keynote provides retailers with a roadmap for leveraging these technologies responsibly and strategically. By building the necessary infrastructure and data foundation, retailers can unlock the full potential of AI to drive innovation and gain a competitive edge.
• Mitigating Risks: As AI becomes more prevalent, it's crucial for retailers to address potential risks such as misinformation and privacy concerns.

Importance to the Brand/Advertiser:

• Data-Driven Decision Making: Brands can learn how retailers are using AI to enhance their operations and gain insights into consumer behavior. This knowledge can help brands make more informed decisions about their marketing and advertising strategies.
• Ethical AI Use: As brands increasingly incorporate AI into their own operations, understanding the importance of responsible AI use is paramount.

Case Studies: Next-Generation Pricing, Demand Forecasting and Inventory Planning

Jason Melone (Head of Applied Marketing Analytics) at Wawa, Inc.

Nathan Mansperger (VP of Digital Supplier Growth) at Southern Glazer's Wine & Spirits

Deborah Weinswig 韋葆蘭 (Founder and CEO) at Coresight Research

Theme: Tech-Driven Transformation

Time: Mon Oct 7 | 4:50pm — 5:30pm PT

Wawa, Inc. are transforming convenience retail media. Inventory management remains a critical challenge for the grocery industry. Real-time shopper insights, demand-sensing technology, and agile forecasting models are transforming inventory practices across the industry. This is important in reducing out-of-stock and overstocks, but also in planning and forecasting functions related to retail media

Importance to the Retailer:

• Profitability and Efficiency: Out-of-stock and overstocked products can significantly impact a retailer's bottom line. This keynote showcases how real-time data, demand sensing, and agile forecasting models can revolutionize inventory management, leading to improved profitability and operational efficiency.
• Dynamic Pricing: By combining modern demand forecasting with technologies like electronic shelf labels, retailers can implement dynamic pricing strategies that optimize revenue and respond to market conditions in real-time.

Importance to the Brand/Advertiser:

• Product Availability: Brands rely on retailers to keep their products in stock and readily available to consumers.
• Pricing Strategies: Understanding the latest trends in pricing and demand forecasting can help brands collaborate more effectively with retailers to develop optimal pricing strategies that benefit both parties.

Weaving Personalization Throughout the Shopper Journey

Benjamin Thompson (Head of Global Insights and Strategic Partnerships) at Endeavour Group

Alex Weinstein (Chief Digital Officer) at Hungryroot

Alicia LeBeouf (Managing Director and Head of Industry, Retail, Grocery, and Marketplaces) at Meta

Jason Goldberg (Chief Commerce Strategy Officer) at Publicis Groupe

Theme: Omnichannel and Unified

Time: Tue Oct 8 | 8:45am — 9:25am PT

This is another not-to-be-missed session with oracle of commerce insights Jason Goldberg . I'd also argue that BWS and Dan Murphy's (Endeavour Group) have some of the best examples of omnichannel personalization out there. They connect the online, offline, instore and near-store channels perfectly and seamlessly. Personalization is key to engaging and delighting customers in today's competitive landscape. Personalization enhances the shopping experience and fosters customer loyalty.

Importance to the Retailer:

• Customer Engagement and Loyalty: Personalization is a key driver of customer engagement and loyalty. Leveraging personalization across all touchpoints of the shopper journey unlocks stronger relationships with customers and increases their lifetime value.
• Omnichannel Personalization: Delivering personalized experiences across online and offline channels is crucial for creating a cohesive and engaging omnichannel experience. Using generative AI and other tools to customize messaging and offers at scale, enables retailers to provide tailored experiences that resonate with individual shoppers.

Importance to the Brand/Advertiser:

• Targeted Marketing: Personalization allows brands to deliver more targeted and relevant marketing messages to consumers, increasing the likelihood of engagement and conversion, and enhances the effectiveness of their advertising campaigns.
• Building Customer Relationships: By contributing to personalized experiences, brands can build stronger relationships with consumers and foster loyalty. This can differentiate their brand in a crowded marketplace.

Accelerating Growth Across Sales Channels

Justin Coaldrake (Head of Omnichannel Guest Experience and Media) at Casey's

Cristina Marinucci - Global Insights/Analytics-Transformative CPG Star (Global Head, Shopper Excellence, Insights and Analytics) at 亿滋食品

Ethan Sinick (Managing Director) at Shirland Ventures Limited

Theme: Omnichannel and Unified

Time: Tue Oct 8 | 8:45am — 9:25am PT

The grocery industry faces significant challenges, including inflation and rising ecommerce costs. Retail media helps generate alternative revenue for retailers and incremental sales for brands.

Importance to the Retailer:

• Overcoming Challenges: The grocery industry faces various challenges, including inflation, rising ecommerce costs, and changing consumer behaviors. Retail media can help navigate these headwinds and achieve sustainable growth across all sales channels.
• Maximizing Retail Media Revenue: Retail media is a growing source of revenue for retailers. Retail media can help drive incremental sales for brands and generate alternative revenue streams for retailers.

Importance to the Brand/Advertiser:

• Growth Strategies: Brands can gain valuable insights into how to accelerate growth across DTC, marketplaces, and other sales channels.
• Leveraging Retail Media: Brands can leverage retail media effectively to drive incremental sales and achieve their marketing objectives.

Frameworks, Tactics, and Takeaways: Unifying Your Data and Tech Stack

Zachary Wilson (Head of eCommerce) at Raley's

Francisca Hawkins (VP, Digital and Enterprise Technology) at Blue Bottle Coffee

Brian Bell (He/Him) (VP, Strategy and Planning) at Church & Dwight Co., Inc.

Amanda Decker -Astrologo (Senior Partner) at The Parker Avery Group

Theme: Omnichannel and Unified

Time: Tue Oct 8 | 9:35am — 10:15am PT

The abundance of data available to retailers and brands is often fragmented and siloed. This keynote addresses the critical need for unifying data and technology to gain actionable insights.

Attendees will discover best practices for integrating disparate systems and transforming data and tech infrastructures. The panel discussion will provide real-world examples of how companies are deploying modern technology stacks to harness the power of their data.

Importance to the Retailer:

• Data-Driven Insights: Retailers have access to vast amounts of data, but it's often fragmented and siloed. Unifying data and technology enables retailers to gain actionable insights into customer behavior, optimize operations, and make more informed business decisions.
• Omnichannel Enablement: A unified tech stack is essential for delivering seamless omnichannel experiences. Integrating disparate systems and leveraging data to create personalized and consistent experiences across all touchpoints.

Importance to the Brand/Advertiser:

• Collaboration and Transparency: Brands benefit from working with retailers who have a unified data and tech stack. This allows for greater transparency, improved collaboration, and more effective campaign execution.
• Data-Driven Insights: By understanding how retailers are unifying their data and technology, brands can gain insights into how to better leverage their own data and collaborate with retailers to achieve shared goals.