Shopper Insighter Podcast Interview Examines Digital Implications for Shopping and Retail Research
By Marc Dresner, IIR USA
‘A typical supermarket type of shop may take 43 minutes whereas an online shop, which accomplishes five times more in terms of size of transaction, takes one seventh of that time,’ said Darren Marshall, VP of Global Shopper Development at the Coca-Cola Company.
In this exclusive interview for the Shopper Insighter podcast series, Marshall outlines:
‘ What U.S. marketers can learn about online shopping from our counterparts across the pond
‘ The opportunities and advantages available to marketers when people are buying online as part of their portfolio of channel choices
‘ How Coca-Cola is coping with ‘Big Data’ and where it fits in the shopper space
‘ Moving from a price-driven to a solutions-based model at retail and much more!
Here’s an exceprt from the interview about big data:
That’s a nice bridge because it brings me to another kind of hot topic. A buzz phrase that we hear a lot nowadays is ‘big data’. Loyalty cards obviously generate tons of data and now we have all kinds of different rivers of data coming. Where does big data fit into what you are doing? What are the opportunities and what are the challenges that you’re facing in that area?
Darren: Yeah, data is a really scary word because when you think about data you think about pocket protectors and rocket scientists with big glasses. One of the big challenges is translating all of that big, scary data into something which is insightful and simple and actionable that anyone of our sales folks who are on the ground making things happen can do something with. So, translating is a really important skill that not a lot of people have and it is certainly one where there is a huge opportunity within the industry. Turning that data into action is really interesting because what you can then do (particularly in more online type of environments) is really get the right product at the right price for the right person at the right time. And through that you’re not getting a one-size fits all type of proposition where everybody needs to compromise somehow. But, you can actually extract more value by getting the right thing at the right place at the right time. That’s the value that big data provides, I believe. A much more customized solution wherein we can capture as much value from every transaction as is possible.
Darren Marshall will be delivering a keynote titled: ‘The Ripple Effect: Creating a Global Movement to Convert Shoppers into Buyers’ at the 12th Annual Shopper Insights in Action Conference taking place July 18-20 in Chicago. Coca Cola will also be at The Market Research Event presenting “Achieving the Win-Win-Win: Driving Profitable Business Growth by Optimizing Your Portfolio for Both Consumers AND Shoppers” in the Shopper Insights Track this November 12-14, 2012 in Boca Raton, Florida. For more information on the TMRE program, and the track sessions featured in the Shopper Insights track, download the agenda. If you’d like to join us in Boca Raton, register to join us an mention code TMRE12BLOG to save 15% off the standard rate.
ABOUT THE AUTHOR/INTERVIEWER
Marc Dresner is IIR USA’s senior editor and special communication project lead. He is the former executive editor of Research Business Report, a confidential newsletter for the market research industry. He may be reached at firstname.lastname@example.org. Follow him @mdrezz.
This blog is co-posted with the MyShopper360 Blog.