Brick-and-Mortar Retailers Could Get a Boost by Tracking in-store Displays

Based on the research of Ioannis StamatopoulosWhether its Christmas or the summer season, shoppers often face in-store promotional displays designed to nudge buying. New research is looking at ways stores can improve use of those displays to stay competitive with online retailers.Promotional displays are frequently left out too late or taken down too soon and sometimes never even make it out in the store, according to research by Texas McCombs Assistant Professor Ioannis Stamatopoulos.

Promotions are yet another way to communicate with your customers, says the professor of Information, Risk, and Operations Management. If youre not communicating with your customers the way you thought you were, thats a problem.Stamatopoulos is working with Shelfbucks, an Austin-based company that tracks and measures data on in-store product merchandising, to analyze data on promotional displays.

The retail industry spends about $25 billion each year on product displays, and Shelfbucks is currently monitoring more than 100,000 of them, according to company data.Stamatopoulos research attempts to improve the promotional display process using internet of things technology, which connects devices to electronic objects using the internet. His project, with Associate Professor of IROM Ashish Agarwal and doctoral student Jacob Zeng, uses electronic sensors attached to the displays to measure how often they are put out on time, for how long, and how that may affect retailers profits.

Shelfbucks founder and CEO Erik McMillan, BBA 03, says the research will be able to help answer commonly asked questions for his customers, which are major retail outlets.Promotional display execution is important because when a brands best-planned display is executed in front of shoppers at their favorite retail store, shoppers buy more product, McMillan says. If the display is not planned correctly or is not executed, the shopper buys less product.

Lost in the Supply ChainShelfbucks uses internet of things technology to track promotional display locations and report GPS data to retail suppliers. The technology helps suppliers ensure that their displays appear on the store floor for the planned amount of time.Companies spend millions of dollars on promotional displays, but a large portion of displays never even make it out to the store floor.

Because such displays arent tracked in the supply chain, they can easily get forgotten in a back room or sent to the wrong location.Online retailers simply have to code a promotion to pop on their websites for an allocated period of time, rather than sending out promotional displays to multiple locations and relying on managers to get them out to the floor in time.With physical stores, these things are much trickier.

Thats a disadvantage thats inherent in brick and mortar retail, Stamatopoulos says.The Problem with Promotional DisplaysThe first phase of Stamatopoulos research tracks how often promotional displays are actually making it onto the store floor during pre-determined times.Stamatopoulos estimates that 30 percent of the displays never make it to the floor at all, and those that do are only used for about half of the planned time.

We are actually finding that the execution is really, really bad, he says. Theyre put on the floor early and moved early, or theyre put out late and moved late. Its more often than you might expect.

The second part of Stamatopoulos research attempts to measure the value lost as displays sit in the back of the store. Stamatopoulos compares sales before, during, and after the promotional displays are on the store floor. His initial findings indicate that forgetting to bring out displays on time or forgetting to take them down could have a negative influence on profits.

When the displays are put out also matters. For example, he says you wouldnt want a Santa Claus-themed display to be set out too early or left up after the Christmas holidays.Testing SolutionsAs the final part of their research, Stamatopoulos and his coauthors are looking for a solution to erratic display execution.

Traditionally, auditors conduct an in-person check on promotional displays. However, the research team has had suppliers instead send out different types of notifications such as emails or verbal reminders during meetings to managers who fail to put out displays. They can tell which notifications appear to be most effective, based on how quickly the display is then brought out onto the floor.

The approach being tested, Stamatopoulos says, is the gentle nudge. A simple reminder could be a solution that saves suppliers both time and cost.Imagine how cheap that is, as opposed to, say, expensive audits or signing a contract with a store manager with specific incentives in place, Stamatopoulos says.

This is a very simple thing, its like setting a reminder for your next meeting. Beyond ExecutionShelfbucks CEO McMillan says perfecting the in-store display goes beyond execution and includes design display type and companion promotions. However, he says maximizing display execution can help uncover the best ways to plan the display details.

Retail has been a hub for innovation for a long time, Stamatopoulos says, as companies test new methods for making a profit. In a modern age with new technology affecting businesses, this process is more important than ever.Our role as academics in a business school is to collect and organize this knowledge and build a systematic theory of why some things work and some things dont, Stamatopoulos says.

And we then pass down this knowledge to new entrepreneurs and soon-to-be managers as well as other academics, so they dont repeat the mistakes of the past. Operational Execution and POP Campaign Effectiveness: Empirical Evidence from Adoption of an IoT Technology was presented at the 2018 Manufacturing and Service Operations Management Conference.Story by London Gibson RELATED QUESTION What's the minimum amount of time and training it would take to become Batman?

Batman is often described as physically being u2018peak humanu2019. This means that he is capable of the maximum abilities which a human body can undertake. Think of the Olympics, when you see all those guys whou2019ve trained for their entire life to be the best at one thing.

Batman is implied to be better than most of them. Some of his crazier feats include:Kicking down a treeRipping steel pipes out of the groundSnapping a gun in two (this one was when he was in his 50u2019s)Lifting a gorillaBecoming a Master of basically every known Martial ArtThis is just his physical prowess - batman is also frequently stated to be the u2018worlds greatest detectiveu2019, he is tactically minded to the point that his ability to plan has often been called a superpower in its own right. He is fluent in many languages, has a genius IQ and is an expert in too many fields to list here.

As to becoming Batman? Technically if you started as a young child and trained religiously every day, whilst dedicating every second of your free time to study and learning, you may be able to get close to this level, but itu2019s probably impossible to maintain that kind of intensity without being a bit insane, which Bruce Wayne is heavily implied to be at times.What's the minimum amount of time and training it would take to become Batman?

no data
recommended articles
Related Blogs blog
How to Take Care of Your Swimming Pool ?
If you retail pool supplies or store large supplies of pool chemicals for the public childrens pool you dont have any doubt been informed through your fire marshal, insurance company representative, company safety manager, or fire equipment distributor how the NFPA standard (usually adopted as fire code) demands that only water type extinguishers be installed in areas containing pool chemicals. This article identifies and discusses the precise NFPA standard that applies here; whats more, it explains why this kind of requirement is to take care of your swimming pool? you have to know the correct technique for adding chemicals with their pool. In order to make preparation for the routine pool chemical maintenance, it can be essential for you to have on hand a well used bucket that do not be employed for other purposes, pool test strips, an old measuring cup, and also certain type of chemicals that you simply determine on using.For this reason,you need to know how to take care of your pool natural pool chemicals were created in order to reduce potential risk of unwanted effects along with other risks on health concerns while experiencing and enjoying the refreshing coolness of the pool water. Three different natural pool disinfecting system where developed as an alternative to the use of chemical products as sanitizing products on private pools. These three forms of natural pool system remove or replace the usage of chlorine about the pool water also.Saltwater pool product is perhaps the normally used and a lot popular alternative for implementing chemical products on childrens pool water. Although it doesnt totally get rid of the use for chlorine, it replaces the chemical product with a rather natural chemical produced by making use of salt around the pool water. Saltwater chlorination is really a popular natural procedure for disinfecting water which came from Australia. Although it is way far more expensive for have one compared to traditional pools, most pool owners are finding it more practical as health is whats important to most of the people.But with dogs in pools, comes concerns regarding properly treating them. First, we need to remember that each dog puts additional stress or strain on the pools treating system. It is figured that one canine in a very swimming pool can equal 10 to possibly 50 humans (as noted in The Orange Country Register, Spa & Pool Education Committee for Education, Santa Ana, CA, April 16, 1997). Obviously, the size of your new puppy, the type of fur or hair, the quantity of fur or hair will all be important as to this ratio. RELATED QUESTION How can I remove vinegar stains from limestone? Most stains can be cleaned by means of stain-removing poultices, which include materials like kaolin, powdered chalk, talc, white molding plaster, etc. A poultice can be made of white cotton balls or white paper towels. You can also buy a premixed substances to which only water is added and are ready to use. One pound of a ready poultice will cover approximately one square foot and it should be left on the stain from 1 hour up to 48 hours, depending on the stains, which can be:Organic stains from tea, coffee, tobacco, food, etc. can be cleaned using 12% hydrogen peroxide (hair bleaching strength) and a few drops of ammonia. If your outdoor natural stone gets such stains it might be enough just to leave the sun and rain wash out the stain. Oil stains may be caused by butter, tar, cooking oil or cosmetics. They will darken the stone and usually need to be chemically dissolved in order to be removed. You can prepare a poultice with acetone, ammonia or mild household detergent and then scrub gently to clean the stain. Oil stains may be caused by butter, tar, cooking oil or cosmetics. They will darken the stone and usually need to be chemically dissolved in order to be removed. You can prepare a poultice with acetone, ammonia or mild household detergent and then scrub gently to clean the stain. For marble tiles you can spread the surface with fine powder as whiting or cornstarch and leave it for 24 hours before scrubbing with hot water and a detergent solution.Etch marks these are caused by acids from milk, alcohol, fruit juices mainly on calcareous stones, so be careful when placing your glass on the marble kitchen top. Any acidic spill should be wiped out immediately and then the surface must be cleaned with a wet cloth. If, however, the liquid has stayed longer on the natural stone, there might be deeper etching and you might need the services of a professional to polish itDon't use any acid liquid, including vinegar or lemon juice on calcareous natural stones such as marble, travertine, limestone.Taken from: Natural Stone
no data
  • E-MAIL:
  • PHONE : +86 13859989513
  • WHATSAPP : 13859989513
  • ADD : rm No.29e Zhongxinhuiyang Building No.55 North Hubin Road Xiamen China
  • Xiamen Aofei Building Materials Co., Ltd. is adhering to the spirit and attitude of serving customers' needs and is willing to offer quality products and services to friends all over the world.
Copyright © 2021 Xiamen Aofei Building Materials Co.,Ltd.  | Sitemap