Given the shift to omnichannel marketing and sales strategies over traditional point-of-purchase methods—and retailers’ focus on the entire customer journey, from casual browsing to after-sale service requests—the term “point of sale” is losing its appeal as a communications landmark. A recent Food Marketing Institute (FMI) event addressed this strategic shift, as package production and marketing services firm Sgsco and not-for-profit standards organization GS1 US offered a new approach to help CPG companies win market share and navigate the latest omnichannel path to purchase model, dubbed by sgsco as the “Moment of Sale.”
Sgsco CEO Aidan Tracey and GS1 US president and CEO Bob Carpenter presented the new model at the 2017 Food Marketing Institute Midwinter Executive Conference, where they co-hosted the panel, “Winning at the Moment of Sale: Why the Rise of the Digital Shelf Changes the Consumer Path to Purchase.”
“As consumers rapidly adopt new shopping habits via technology, brands and retailers must adjust their thinking beyond where the product is available for sale to how the consumer is shopping,” said Tracey at the event. “We believe the shift from the physical point of sale to the Moment of Sale represents a new framework and opportunity for building brands with consumers. These moments can happen at home, on public transit, at an event or in the store—and the way a CPG brand creates, manages, and distributes its packaging content assets will have a significant impact on its future market position.”
“We are proud to make resources available to CPG brands so they can better understand the significant shift and opportunities in today’s marketplace,” said Tracey, during the presentation. “There’s no denying the path to purchase has changed, and with more than 70 percent of consumers using a mobile device along their path, it will only continue to evolve at an accelerated pace. At sgsco, we understand the important and expanded role packaging content will play in a world where the physical and digital shelves coexist within one seamless consumer experience.”
According to Carpenter, today’s digital-savvy generations have an insatiable hunger for rich product information to inform their purchase decisions, but much of the digital information currently available is inaccurate or unreliable, which creates a poor user experience, ultimately diminishing brand loyalty.
“Retailers and brands have an opportunity to provide the detailed, accurate digital product information consumers require,” said Carpenter. “To create competitive end-to-end shopping experiences, forward-thinking companies are leveraging global standards to make it easy for consumers to discover and purchase products, whenever and wherever they are.”
Source: PR Newswire; edited by Richard Carufel