News
Colateral Shortlisted for In-Store Technology of the Year
Colateral has been shortlisted for the In-Store Technology of the Year award for the upcoming Retail Systems Awards 2023. This nomination recognizes Colateral’s innovative approach to revolutionizing in-store marketing for multi-location retailers.
The Retail Systems Awards is in its 18th year of celebrating excellence and innovation in the retail technology sector. The annual event recognizes innovative and successful collaborations between technology and retailers.
The In-store Technology of the Year award identifies a new in-store technology that has the ability to significantly improve a retailer’s operations. This category includes in-store technologies such as shelf and aisle tools, display tech, camera, footfall, and stock management monitoring systems. The winning entry will be able to demonstrate why the technology is innovative and how it can improve a retailer’s business.
Colateral’s shortlisting recognizes our innovative approach to in-store marketing, enabling retailers to eradicate inefficiencies and unlock new revenue streams.
Previous winners include the collaboration between ASDA and Goodmaps in 2022, which involved mapping merchandise in their supermarkets to make it easy for shoppers to find what they were looking for.
Despite the rise of e-commerce, on average, 80% of retail purchases still happen in stores. Meanwhile, 82% of shoppers make purchase decisions in-store, either in-category or complete impulse purchases. This offers a significant opportunity for retailers and brands to drive revenues by getting their in-store advertising right.
However, in-store marketing hasn’t evolved in decades. Many retailers and brands distribute the same materials to every store, with limited localization based on consumer demand and poor visibility of how their campaigns look on the shop floor. It’s a far cry from the unlimited tracking and attribution available via digital marketing platforms.
Colateral aims to bridge the gap between digital and physical marketing to drive multi-location marketing performance. We do this by enabling retailers to understand their spaces, run localized in-store campaigns, and commercialize their spaces to increase revenues.
We support global retailers and brands in improving their in-store marketing. Robert Dyas realized an 80% reduction in time creating and managing campaigns. Additionally, Paddy Power improved the accuracy of in-store marketing materials from 42% to 100%, ensuring that the right messages were on display in every store. And a Supermarket retailer saved $2 million per year on their print media spend.
Additionally, Colateral recently founded partnerships with Taylor Corporation and 1010Data to expand our global footprint and unlock greater analytics for our retail customers.
Fellow finalists for the In-store Technology of the Year award include:
Find the full list of shortlisted companies in each category of the Retail Systems Awards here.
The winners of the Retail Systems Awards will be announced at a gala dinner on June 29, 2023, at the iconic Waldorf Hilton in London, United Kingdom (UK).
The event is expected to attract leading senior executives from the retail technology industry, who will come together to celebrate the achievements of the finalists and network with other industry leaders.
