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?? LinkedIn Live Series: Retail o-Tones

Dive with me into the depths of the retail sector with our upcoming series of LinkedIn Live sessions.

Here’s a peek at what’s in store.

I introduce to you: These are the retail experts joining me on the first episodes here on LinkedIn.

13th September 2023, 12:00 - Point of Experience

with J?rg Heinemann from OTTO . Sign up for Episode #1: here !

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20th September 2023, 12:00 - Migros Omniverse

with Andy Baldauf from Migros. ???? German Episode

Sign up for Episode #2: here !

- 27th September 2023, 12:00 - Smart Vending with Alexander B. from Selecta .

???? English Episode

Save the date for Episode #3 here!

Before we dive into best practices, let’s have a look at this hot topic to get a better understanding of what is happening on the market.

Hot Tech Topic in Retail: The Art of Promotions*

Promotions are indeed a double-edged sword in the retail industry.

Accounting for a significant piece of annual sales, promotions are also a source of stress and complexity, often conducted without actionable insights, based on “gut feelings” (German: Bauchgefühl).

Nerd fact: The 1st. ever coupon was distributed by Coca-Cola in 1887.

In times of increasing cost of living people have less to spend. However, promotions are not just sales boosters; they're a pivotal element in shaping customer experiences and brand perceptions.?

A retailer cannot run unlimited promotions. It is important to check on the real cost VS. benefit:

But why is creating effective promotions such a struggle?

Pricing and Tactics: Often, retailers find themselves caught in a cycle of either too shallow or too deep discounting, all due to a lack of quality data. This not only jeopardizes potential sales but can erode the already thin profit margins.

Promotional Overflow: Retailers frequently run more promotions than necessary. That is creating a misconception of the brand and diverts focus from products that the customer really needs. It's critical to devise a clear strategy to prevent promotions from spiraling out of control.

Frequency Imbalance: Striking the right balance in promotional frequency is key. Retailers must avoid the trap of underpromoting products with solid uplift potential and overpromoting those with weak prospects, as this can erode profits and margins.

Leveraging Technology for Insight and Analysis: Companies like RELEX Solutions step in here, providing retailers with actionable insights and tools to master the art of promotions. It's no longer about gut feelings; it's about utilizing data-driven strategies to optimize promotional campaigns for success.

Check out the live Demo here. ?? Click here to see the magic happening in a precise demo.

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After all, the retail sector is all about margins, and even a slight enhancement in promotion strategies can lead to significant gains.

Mark the 13th of Septembers 12 o'clock in your calendars!

Stay tuned as we delve deeper into this topic in our upcoming sessions, where we bring actionable insights straight from the experts in the field on different technologies and their impact on people in store.

See you there!

Yours, Alexis

*Ad.: RELEX is an official supporter of “Retail o-Tones” Season #1.

A big "thank you" to Ayeh Heymann and RELEX Solutions for the trust and courage to join and support me on this exciting journey!