Bish Creative has launched a joint partnership with Retail DNA, empowering its clients with game-changing capabilities that improve campaign compliance and ROI for their retail display investments. The partnership will provide Bish’s customers with the option to leverage real-time data from technology-enabled displays to help them make more informed decisions that improve campaign performance and reduce waste.
CPG companies in the US spend well over $200B/year on trade promotions and retail displays, but there is very little real-time data coming directly from displays to inform brands about the effectiveness of these investments. Research from Shop! has shown that retail displays have a very low compliance rate of only 40%, but when surveyed, brands believed their display compliance rate to be much higher, at 70%. This perception gap is easily explained by the lack of data coming from displays.
Jerry Fox, president and CEO of Bish Creative, explains: “In the past, brands spent millions of dollars on the design and development of beautiful displays but then have zero visibility to what happened to the displays once they left the manufacturer. The world we live in is getting much more concentrated, and it is very important for brands to know that they are making the right display investments in the right locations at the right time.
“Adding technology to displays should not be viewed as adding cost,” Fox continues. “Rather, it represents a solid investment providing proof-positive of the ROI of displays. With the Retail DNA solution, the ROI comes from not only ensuring your displays are where they need to be, when they need to be there for your retail campaigns, but also in the insights that come from all of the displays over time.”
Retail DNA’s co-founders, Gus Hoffman and Sashi Murthy, are very excited by the announcement. Hoffman, Retail DNA’s CEO, comments: “CPG companies in the US collectively spend billions every year on retail displays, and with good reason, as studies have shown that nearly 8 of 10 impulse purchases are made in-store. However, brands get almost no information about their displays, and there is a ton of waste as a result. It’s remarkable.”
Murthy, Retail DNA’s CTO, continues: “With Retail DNA’s partnership with Bish, we see a huge market opportunity to help brands increase their merchandising campaign return on investments as well as improve their environmental sustainability efforts. Bish is showing great thought-leadership for their customers, and we’re proud of our growing partnership with such a forward-thinking company.”