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November 24, 2022

Maximizing Profitability with On-Cart Promotions – Part 1

On-Cart Promotions
Personalized promotions
Micro-targeted promotions
Smart Cart
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For decades, supermarkets distributed store coupons to draw shoppers to their brightly lit aisles. They used aggregate sales data, market research, and manufacturer support to determine the items and discounts required to attract customers. Then, marketing managers would analyze results, adjust campaigns accordingly, and distribute the new coupons.

This marketing technique meant that coupons met the needs of typical families, but households outside the Norman Rockwell norm – such as single adults living on their own – were overlooked.

Those coupons were from a bygone era, where stores focused on reaching mass markets. It was cost-effective and, to be fair, the only practical way to reach large groups of people.

Groceries still want to reach large groups of people, but thanks to customizable digital marketing techniques, they can tailor each promotion to the needs of their recipients.

There are multiple channels to reach individuals. Email and SMS marketing can draw shoppers to the store. However, it wasn’t until the arrival of smart carts that store managers could influence shopper behavior during their shopping journey.

Sending Targeted Ads

Smart carts, especially those with on-cart payment functionality, can identify the shopper and know their previous buying habits. Using that data, they can create micro-targeted custom promotions designed to both enhance the shopper's experience and increase their basket value.

If the database shows that they often purchase low-margin, high-priced name brands, the system can offer promotions on high-margin, lower-priced store brands. Suppose the system knows that the shopper purchases some products every second shopping trip. In that case, it can offer promotions on alternating weeks to encourage the consumer to buy the product every week.

Using past shopping history, there is no limit to the types of micro-targeted, personalized offers that supermarkets can offer. BOGOs, exclusive offers, seasonal promotions, Buy More Save More offers, and loyalty programs are just some of the strategies retailers can use to increase basket value and improve profitability.

Ready for the future of retail?

Reaching Customers through the On-Cart Display

On-cart display promotions are new, but they have already made quite an impact on retailers. Shopic’s on-cart display, for example, has a proven 29.6% conversion rate.

On-cart personalized promotions are one of the few ways to directly influence and measure shopper behavior while in the store.

The promotions can be used to impact so many areas of the business, from reducing inventory levels to cutting back on food waste, and its bottom-line impact can be seen throughout the balance sheet. Adding on-screen promotions into the shopping experience doesn’t only work, it makes you wonder why every store isn’t doing it.

We’ll be back next time with more ways retailers are using on-cart promotions to maximize profitability.
To learn more about the Shopic clip-on smart cart, schedule your demo today!

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Shopic in the media

Recent News & Coverage

August 23, 2022
Grocery smart carts aim to be the saving grace for self-checkout hate
CBInsights's Kennedy echoed that it has historically been difficult for retailers to "overhaul systems that are really entrenched," noting there's "a lot of value around solutions that bolt on to existing technology and allow a store to be retrofit for the technologies."
Read
August 10, 2022
Shopic Announces $35M Investment to Bring Its AI-Enabled Smart Cart to Top U.S. Grocery Chains
Shopic, the smart grocery shopping cart startup, has announced a $35 million Series B investment round led by Qualcomm Ventures, bringing its total funding raised to $56 million.
Read
August 9, 2022
Shopic lands $35M to bring its item-scanning ‘smart cart’ tech to more stores
"We support Shopic's vision of hybrid retail, where the best of online shopping and physical store experiences merge. Shopic's smart cart, which is a compelling and pragmatic smart retail solution, is helping enable this future."
Read
March 2, 2022
Shopic’s Smart-Cart Technology Won the RETA Awards
We are proud to announce that our smart cart clip-on solution has won the Top Technology Partner RETA Awards in the “Best In-store Solution'' category from the EHI Retail Institute. The news comes on the heels of our recent partnership announcement with Shufersal, Israel’s largest supermarket chain
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December 5, 2021
Shopic Joins The Race To Develop Smart Shopping Carts
Using our expertise, grocery stores can digitize their retail front-end without changing their operational overhead. The unique clip-on device easily attaches to existing shopping carts, eliminating the need to replace them.
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October 20, 2021
How to Win the Age of Cashierless Grocery
To meet shoppers' needs for speed and convenience, traditional retailers should consider ways to cater to their expectations for efficient and frictionless experiences. There are several ways retailers can streamline the shopping experience.
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August 15, 2021
Shopic Secures Additional $10 Million to Take its Frictionless Shopping Solution to the World’s Largest Grocery Chains
Already deploying our solutions in stores of major grocery chains worldwide, we will use the new funds to accelerate commercial activities and expand our team.
Read
Grocery smart carts aim to be the saving grace for self-checkout hate
CBInsights's Kennedy echoed that it has historically been difficult for retailers to "overhaul systems that are really entrenched," noting there's "a lot of value around solutions that bolt on to existing technology and allow a store to be retrofit for the technologies."
Read
Shopic Announces $35M Investment to Bring Its AI-Enabled Smart Cart to Top U.S. Grocery Chains
Shopic, the smart grocery shopping cart startup, has announced a $35 million Series B investment round led by Qualcomm Ventures, bringing its total funding raised to $56 million.
Read
Shopic lands $35M to bring its item-scanning ‘smart cart’ tech to more stores
"We support Shopic's vision of hybrid retail, where the best of online shopping and physical store experiences merge. Shopic's smart cart, which is a compelling and pragmatic smart retail solution, is helping enable this future."
Read
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