Stores sell ads, return cheap virtual service restaurants and buyer information

The RIW Newsletter provides the essential weekly inspiration for every changemaker that drives innovation in retail and across the customer experience journey. This week, we’re sharing ideas for making more money while shoppers shop with retail media networksbest ingredients for digital meals in VSRsand become cheap in retail at driven value.

In addition, a consumer pulse check with statistics, statistics, statistics – and don’t miss a special offer from our friends at Loop.tv!

Generate in-store revenue with Retail-as-Media
Both advertising and shopping have seen a huge shift towards digital dominance, and the pandemic has only accelerated that. Yet it’s only recently that the two disciplines have begun to merge in some very interesting ways. Armed with solid troves of first-party data, retailers began to leverage their customer audience and establish their own media networks. New research from PSFK shows that not only do these emerging retailer media networks give brands more control over content, they also provide richer, more tangible insights into whether or not the ad was successful, as well as the deepening customer relationships through improved targeting and messaging. .

Target’s Circle program provides a rich back-end for media strategy
Using loyalty-driven insights to power internal media solutions and drive greater personalization at scale for brands like LEGO, Starbucks, Hasbro, PepsiCo, and more. both its customers and business partners. Target internal media solutions

Marriott becomes the first hotel brand to launch a media network
Marriott, which operates more than 30 brands globally, is leveraging its unique positioning and scale to launch the hospitality industry’s first global omnichannel media network. The new solution will deliver curated content to travelers and guests at every touchpoint of their journey within the Marriott property, including in-room screens and TVs. Marriott Omnichannel Media Network

Home Depot transforms ecosystem touchpoints into provider media hub
Home Depot’s Retail Media+ is a full-service advertising and media network solution to help third-party brand vendors, like Behr Paint, Scott’s Miracle-Gro, Boise Cascade, and more, drive sales and promote online and in-store products that benefit The Home Depot and its shoppers. The Home Depot Retail Media+

Read more: PSFK’s Guide to Making Money with Retail Media
Discover 5 strategies for using retailers’ media networks, or creating your own, to deliver better loyalty, advertising and customer experience programs. Generating Revenue with Retail Media

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Find value by flipping the bargain
As consumers grapple with soaring inflation, rising rates and other recent economic turmoil, the circular and repair-focused initiatives that brands have promoted over the past few years now have their moment. . Shoppers and families are opting for less expensive items and looking for value in repurposed products as they try to weather this particular storm, which could just change the way we think about consumerism.

Buyers are changing behavior due to rising cost of living
The average basket size of Tesco shoppers at checkout is shrinking, and those baskets are filled with fewer branded goods and more private label offers. Commodities that have seen large price increases, such as pasta, bread, etc., represent the biggest drop to own brand. GR

Returned furniture finds ‘second life’ in social media marketplaces
The NY Times explains how, fueled by social media, furniture flipping has found new life as a way for people to earn some cash and decorate their homes in attractive ways while staying on budget. Furniture listings on Facebook Marketplace have grown over 40% this year, and refurbished furniture videos on TikTok are growing in popularity, racking up millions and millions of views. NY Times

Vodafone brings old phones back to life with one-to-one program
The new initiative, in partnership with Closing The Loop (CTL), aims to put up to 1 million old cell phones back into circulation. For every new phone sold by Vodafone in Germany, CTL will recycle an old device in an emerging country. CTL

Reseat gives a second life to old office furniture
Reseat, which launched in 2020, does not manufacture new furniture. Instead, the digital marketplace offers businesses, designers, and furniture dealers a place to buy and sell used office furniture from top manufacturers at over 50% off list price. Reseat customers include Oracle, LinkedIn, Rivian, Yelp, and more. Reinstall

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New: exclusive insights into the PSFK quantitative surveys

Digital Dining in Virtual Service Restaurants (VSR)
Tokenization is eating the world, and QSR’s restaurants and chains are benefiting. NFT, token and ledger technologies are increasingly being leveraged for customer engagement and strategic innovation in advertising and marketing, revealing surprising utility in experiential activations and loyalty initiatives.

Wendy’s Sunrise City celebrates breakfast on Meta’s Horizon
Wendy’s newest digital world, Sunrise City in the “Wendyverse,” is an experiential breakfast food-themed extravaganza. Visitors receive a coupon for a free real-world sandwich breakfast upon first entry. Sunrise City features a castle in the sky full of bacon bridges, flying cookies and digital avatars paragliding on potato pancakes, as well as a themed obstacle course. Wendy’s

Chick’nCone Gives NFT Holders Stake in New Franchise Locations
Chick’nCone, a Pennsylvania-based chain, is offering its Chick’nCoin NFT holders an innovative and exciting benefit: reduced restaurant group royalty and franchise fees. The chain is using its NFT launch to bring in capital without giving up company capital, and token owners are eligible for 50% franchise fees for any new store that opens in their area, as well as a royalty fee of 2% on sales. units in their area for up to six years. Each token represents a specific geographic region in the United States. Chick’nCoin

8it Food Hunt App Creates “Edible NFT Food Hunt”
8it, a mobile app for curated food recommendations, pop-ups and limited “drops” in New York City, has launched a citywide “eat to win” NFT food hunt that will run until to Sunday June 26. The event, part of NFT.NYC 2022, features limited-time specials and exclusive food collaborations from some of New York’s biggest names, and users earn points, prizes and NFTs for every dish they eat and log in through the app. 8it

The Ohio mom and pop who invented the burger are getting into chips
Menches Bros, a small restaurant with a big claim to food history, is teaming up with Metaversal to create a collection of 5,655 Lil Mench NFTs. The tokens will act as a membership program, with around 1/3 reserved for local customers, who can use them to get a 20% discount for a year when dining as well as access to exclusive events. The restaurant is planning a local “mint party” where diners can learn how to buy one, and plans to let customers pay for NFTs with a credit card. Menches Brothers.

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