Progressive Grocer Independent

JUN 2016

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June 2016 | Defining the Independent Market | 35 David Diamond is an independent consultant to leading retailers, manufacturers and service providers in the grocery industry. He can be reached at [email protected] make previously unachievable ap- proaches quite manageable, even for an independent retailer. Not long ago, I spoke with Dean Pacey, partner and VP of business development at Daisy Intelligence, a data analytics company based in Toronto. Daisy has devel- oped a cloud-based approach to using artifcial intelligence — or, more properly, machine learning — to mine retail data, including loyalty data. While the analytics are highly advanced, this approach can serve a smaller retailer. All of the data are managed in the cloud, requir- ing no new hardware or software. Te machine-learning process asks the questions as well as providing the answers, eliminating the need for high-priced analysts to run the process. And most importantly, the system can work on a small scale — an interesting initial project could be felded for just $25,000 to $50,000. Te bad news in all of this is that all of the excuses that independent retailers have used over the years to avoid making a commitment to loyalty marketing are quickly becom- ing just that: excuses. Te remarkable part of the technological advance- ments we're seeing is not so much that new technologies create new things to do, as that new technologies make existing approaches easier to use and cheaper to execute. To use an analogy, I now record many TV shows and save them for later viewing. Twenty years ago, I had a VCR that was capable of doing exactly what I do today, but the hassle of programming a difcult machine, combined with the cost and annoy- ance of buying and storing VHS tapes, led me never to use that capa- bility — I just used the VCR to play back the tapes I rented from Block- buster. Tink of loyalty programs in that vein: It's not that new approaches have been invented — we're still just trying to get our best customers to stay loyal to our stores and spend more money in them — but the ways of doing this have moved from monumentally chal- lenging to relatively straightforward. PGI Unlock global expansion opportunities with case studies and peer to peer sharing. Limited to 45 Global Consumer Goods leaders. CLAIM YOUR SEAT TODAY! Contact Lacey Berdela at 973-607-1359 E X T E N D I N G Y O U R C O M PA N Y ' S G R O W T H S T R AT E G Y W O R L D W I D E PRODUCED BY SEPTEMBER 21-23, 2016 | RITZ CARLTON | FT. LAUDERDALE, FL

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