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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

July 18, 2024
Capgemini Partners with Shopic to Revolutionize Retail with AI-Powered Smart Cart Solution in France and the US
“At Capgemini, we constantly seek to push the boundaries of innovation in retail. Partnering with Shopic allows us to bring their groundbreaking smart cart technology to the forefront of the retail experience."
Read
July 4, 2024
Revolutionizing Retail: How Shopic’s Smart Cart is Leading the Digital Transformation
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October 7, 2023
Why You're Seeing So Many Ads In Your Local Supermarket
"When in-store retail media is done right, it adds value to the customer experience", we discussed at IBT Media. "Ads don't have to be intrusive or annoying. We've seen highly positive responses to ads that remind a customer about a specific promotion when they are located in the relevant part of the store."
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October 7, 2023
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August 3, 2023
Smart Carts May Be The Disruptive Technology Grocery Stores Need Now
With market share losses looming, grocery stores need a fix, and smart carts could just be it. "Smart carts are so innovative, and because it helps the shopper, it will attract them and help retailers retain them," as we marked in the Forbes article.
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June 8, 2023
Harnessing E-Commerce Analytics Mindsets for Offline Retail Success
"E-commerce websites use extensive tracking to analyze shopper behaviors. Customers are tracked on which pages they visit, how much time they spend on different pages, and what actions lead them to purchase or abandon their shopping cart. New smart devices are poised to provide similar analytics for offline retailers. For example, Shopic."
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June 8, 2023
Optimizing Computer Vision to Improve the Grocery Shopping Experience
“Having a separate, detachable, lightweight device, with no other hardware required, is part of our differentiation,” Kravitz says. “Therefore we must put all of our algorithmic efforts into computer vision.”
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May 29, 2023
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May 23, 2023
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“Microsoft has provided us with an effective platform to showcase our technology to customers in Europe and beyond. We’re delighted that Microsoft shares our confidence in the potential of Shopic to transform grocery shopping.”
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March 11, 2023
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Raz Golan, Shopic’s CEO and co-founder, recently shared with Best Life how this technology will transform the in-store shopping experience. "We're bridging the gap between e-commerce and in-person shopping experiences".
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March 1, 2023
Shopic’s Smart Cart Solution Highlighted by Microsoft at EuroShop 2023
“We’re delighted that the team at Microsoft has selected our solution as one of its retail tech partners to highlight at EuroShop. We see it as an affirmation of our team’s hard work in bringing the Shopic smart cart solution to market”
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February 28, 2023
Shopic-Shufersal Smart Cart Partnership Wins 2023 RETA Award for Best AI at EuroShop
“It’s a testimony to the hard work of both our own teams and our partners at Shufersal, who have enthusiastically invested in Shopic’s smart cart solution to deliver the best possible shopping experience.”
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February 22, 2023
Grocery Shoppers Turn to Self-Checkout Amid Dissatisfaction With Traditional Experience
"Shoppers are happier when they have a better experience in the store," said Raz Golan, CEO and co-founder of Shopic. The grocery industry, for its part, has been working hard on innovating the checkout experience, tapping new technologies to improve efficiency and remove friction for consumers.
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February 21, 2023
Shopic To Deploy 2000 AI-Powered Smart Shopping Carts
As Forbes put it, ”This is just the beginning of the Smart Carts revolutionizing the grocery shopping experience. As the grocery industry faces challenges from the rise of e-commerce, it's more important than ever for retailers to experiment with new technologies.”
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February 21, 2023
Shopic to Deploy 2000 Smart Carts in Partnership With Israel’s Leading Supermarket Chain
“Shuferal’s rapid ramp-up helps place Shopic at the head of the field for smart cart solutions,” said Raz Golan, Shopic’s CEO and co-founder. “This marks deployment at an unprecedented scale and validates our vision for the future of frictionless grocery shopping experiences.”
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December 26, 2022
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"AI is making its way into supermarket shopping through a new technology developed by Shopic. With its focus on customer convenience and merchant insights, it certainly has the potential to become an integral part of the evolving grocery store experience."
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November 28, 2022
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“Technology partnerships have become an increasingly valuable way for businesses to deliver more streamlined and efficient customer experiences. As Forbes shares: "One great example of this comes from Shopic and its clip-on grocery cart tec".
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November 14, 2022
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November 4, 2022
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September 23, 2022
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August 31, 2022
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"We don't build a cart from scratch. We've created a device that connects to standard shopping carts and turns them into smart carts only when shoppers use them. So we're allowing grocers to bring all the benefits of online shopping to their physical supermarkets, but without changing the operational overhead or the infrastructure in the store."
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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."
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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.
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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."
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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
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August 15, 2021
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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
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“At Capgemini, we constantly seek to push the boundaries of innovation in retail. Partnering with Shopic allows us to bring their groundbreaking smart cart technology to the forefront of the retail experience."
Read
Revolutionizing Retail: How Shopic’s Smart Cart is Leading the Digital Transformation
The inception of Shopic stemmed from a desire to innovate within the brick-and-mortar retail industry, an area ripe for digitization. After years in cybersecurity, co-founders Eran Kravitz and Raz Golan identified a significant opportunity to revolutionize retail through technology.
Read
Why You're Seeing So Many Ads In Your Local Supermarket
"When in-store retail media is done right, it adds value to the customer experience", we discussed at IBT Media. "Ads don't have to be intrusive or annoying. We've seen highly positive responses to ads that remind a customer about a specific promotion when they are located in the relevant part of the store."
Read
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