Price Check Please!

Before all the awesome technology that we now have at our disposal, cashiers would yell out to someone in the store “Price Check Please” and someone would come up to the register, take a look at the product, go back to the aisle to find a similar product and then hurry (In some cases) back to the register to provide the correct price or to confirm.  Usually this was followed by “Spill in Aisle 5”. 🙂

Well, things have certainly changed.  As we know, products are scanned via a UPC (Universal Product Code), we present coupons that are also scanned using a bar code (either on our smartphones or by handing over a coupon) or using a QR (Quick Response) code to redeem our deal or special offer.  When on-line we use promotional codes that we have access to via our e-mail or through a quick search to find one that may be active.  Most on-line commerce sites provide an area for promotional codes at check-out.  These have become a standard for most on-line shoppers looking for a better deal; and aren’t we all.

When visiting a brick and mortar store, we have access to price check kiosks where we can scan an item for the price and other details, such as nutritional, before we get to the register to check-out.  We also have access to in-store hand held devices that enable us to scan all of our products while we shop and to access our frequent shopper history so that we know what we purchased in the past, what specials we can use, product and nutritional recommendations and many other “benefits” for the customer – as you know there is huge benefit for the retailer as they learn more and more about your behavior so they can improve the relevance of their communications with you.

And then of course we have these incredible smartphones that not only give us information and pricing about that product in that store, but also the price for that same product in competitive local retailers and for on-line retailers as well.  The power to find the best price sits in the palm of your hand.  Retailers are certainly responding to this “threat” in different ways.

Last holiday season for example, Amazon offered shoppers $5 to scan items in retail stores and to send that information back to Amazon so that they could understand the local competitive market pricing and make sure they had the best price.  Amazon’s Price Check app, which is available for iPhone and Android, allows shoppers to scan a bar code, take a picture of an item or conduct a text search to find the lowest prices. Amazon is also asking consumers to submit the prices of items with the app, so Amazon knows if it is still offering the best prices.  Now that is proactive “crowdsourcing” at its best.

Some retailers, like Target, are encouraging that behavior, giving shoppers gift cards and other rewards for checking in and scanning merchandise. Others, like Best Buy, are doing their best prevent it, even going so far as to strip the standard bar codes on products to discourage shoppers from running price comparisons with other retailers.

Empathica, recently issued a survey among 6,500 U.S. Internet users — a little more than half (52%) of whom identified as smartphone owners — to take a closer look at how they’re using mobile in stores. Impressively, 55% of smartphone owners said they’ve used a mobile device to compare prices between retailers. Thirty-four percent said they’ve scanned a QR code, and 27% have read online reviews from their devices before making purchase decisions.  Empathica provides Customer Experience Management programs to more than 200 of the world’s leading brands.

According to Empathica’s survey, here is how consumers are using their smartphones in store:

What your customer and prospect can now do while in your store is revolutionary.  You want to win?  Make sure you give your shoppers with what they need to engage.  It is no longer just about the product, but about the entire experience and how the shopper expresses themselves about you.

Let me know what you think about this post by commenting below.

Webman

Getting the Deal – Part 2

The convergence of the coupon and your smartphone is about to happen…….

In part 1, we reviewed many of the “terrestrial” based coupons that are available today through traditional print mediums (Newspapers, FSI‘s, direct mail, in-store, etc.).  Those where we must clip or cut a physical coupon and present it at the point of purchase.  We also discussed the plethora of digital/on-line coupons available; yes they are on-line but most of these still require a printer and are redeemed at the point of purchase in the traditional way.

With nearly 50% of the US enabled with smartphones we are on the precipice of an incredible transformation through the range of applications and capabilities on your smartphone, both domestically and globally.  Innovative companies such as Starbucks have now connected your point of purchase behavior and the capabilities of your smartphone.  Their smartphone application was only one part of this connective tissue.  In order to enable this coupon/purchase card capability at the point of sale, they needed to replace their scanning technology to make sure that these capabilities worked right every time.

For coupon redemption via smartphones in grocery and other retail outlets to become a reality, it is critical that the process and the technology is aligned at the point of sale.  Most scanners in grocery stores cannot read a bar code displayed on the screen of a cellphone.

“Couponing has been one of the tried and tested tools to incentivize consumers to try our products,” said P&G’s VP of Global Business Development Jeff Weedman. “Ads around the world have moved digital but there was a hole in the system. You can deliver coupons digitally, but frankly our customers weren’t happy about it. It doesn’t scan at most grocery scanners and it slowed the system down because the check-out person would have to plug-in the numbers manually.”

One company that is working on this specific opportunity is Mobeam.  www.mobeam.com – In October, Cupertino, Calif.-based Mobeam raised $4.9 million in capital to solve this exact problem, by converting the bar code data into a beam of light that can be read by most scanners found at the check-out counters.  They are still early in the process, but it is apparent that our point of purchase behavior around using coupons is about to change radically.

Enjoy the ride and the savings!

Let me know what you think about this blog by commenting below.

Have a great weekend.

Webman