How are FMCG brands riding the tech wave?
By N Jayalakshmi | July 18, 2019
FMCG brands seem to be leveraging technology in increasing urgency to address various factors. But how effectively are they able to make use of it, given the changing dynamics of the retail space and consumer behaviour? A few industry experts and retail solution providers that Retail4Growth spoke to share their perspectives in this regard.
There are no two ways about it: technology is a major driver for any business today. In the retail business, technology can be a game changer both at the front and back ends – whether in terms of improved operational efficiency, data analytics or grabbing shopper attention. FMCG brands, who occupy a key position in the retail space, seem to be leveraging technology in increasing urgency to address various factors. But how effectively are they able to make use of it, given the changing dynamics of the retail space and consumer behaviour? How can they get the best from their technology usage? And what are the challenges? A few industry experts and retail solution providers that Retail4Growth spoke to share their perspectives in this regard.
When FMCG major Marico reportedly set up a think-tank in 2016 to manage technology deployment across key areas, the focus apparently was on making it ‘future ready through technology’. In another example, HUL used effective digital signage solutions across 1500 small stores, including grocery & medical stores in 6 cities, to show impactful advertisements and capture the attention of audience while assessing the impact on sales across multiple locations. Bangalore based Pickcel’s digital signage solutions were implemented in the project using captive advertising network across displays that were placed strategically to ensure maximum visibility and influence customers buying decisions.
As Rajesh Bhattacharjee, Co-Founder, Pickcel Digital Signage India, informs, talking about the project, “Comprehensive dashboard for monitoring was introduced to track downtime, network connectivity and content synchronization. City-wise operational reports covering up-time and network connectivity were generated on a daily basis, which was sent to designated stakeholders automatically through email. Alerts were configured to take care of any emergency situations like display downtime more than 48 hrs. Also, city and store wise impressions and related campaign analytics were captured in dashboard along with exhaustive reporting for monitoring business functions.”
These are not isolated examples. Major FMCG companies are now using technology in various ways to redefine many of their functionalities –whether reaching kirana shop retailers directly and influencing sales, rather than depending on wholesale distributors’ network, or connecting with shoppers at retail or more.
Read the complete story in July 2019 Technology@Retail Special Edition of Point-of-Purchase. And do keep watching this space for more as we try and bring you more insights and stories from the technology space in the context of retail and shopper marketing.