The retail industry is experiencing a shift as consumers are returning to stores post-pandemic. Retailers are presented with a new opportunity to provide more value to consumers than ever before, especially when it comes to in-store engagement. The moment of truth, originally coined by former P&G CEO A.G. Lafley, has expanded beyond the consumer experience in brick-and-mortar to the connected consumer experience.
Consumers have become more tech-savvy than ever before, and retailers must capitalize on this trend. In-store sales have increased 13.7% compared to pre-pandemic levels, with 20% of consumers now doing all their shopping in-store, according to McKinsey. Retailers must pursue a smart retail strategy that offers an immersive omnichannel experience for customers to maximize their ROI on digital.
Retailers have always aimed to achieve critical goals to stay in business and thrive, including driving shopper satisfaction, increasing basket sizes, and leveraging loyalty data to provide more value to consumers. The introduction of the shopping cart in the 1930s aimed to achieve the same types of goals. However, there is now a reason to reinvent the moment of truth and shake up the shopping cart.
More shoppers are returning to retail stores looking for ways to reduce their grocery bills. Retail app usage is accelerating as shoppers recognize that these apps are the main avenue to finding lower-cost or sale items, discovering meal plans and recipes, and leveraging loyalty program discounts. Unfortunately, retailers have spent millions of dollars to improve the digital shopping experience via iOS and Android apps, but shoppers tend to refrain from downloading or using the apps while shopping.
Veeve has combined the power of any retail app with an “intelligent” and larger screen that snaps right onto the existing shopping cart. The Veeve device delivers content to the shopper that is relevant to their location in the store, at the aisle and shelf, while leveraging the full power of any app to deliver promotions, loyalty-based offers, coupons, and other retail media to the shopper. It easily facilitates a contactless checkout process at the end of a shopping trip, reducing the time required to complete the transaction and lowering operational costs.
Veeve enables retailers to revolutionize the shopping experience by providing a smarter retail experience built for the future. There are millions of shopping trips occurring every day, and Veeve is shaking up this one-to-one opportunity to interact with the shopper, in the store, at the shelf, and at the “moment of truth.” By leveraging the power of technology, retailers can increase shopper satisfaction, increase basket sizes, and provide more value to consumers than ever before.
