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Shelfbucks Innovations
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Erik McMillan
Founder and CEO
We want to bring you more than just another set of data.
We want to bring you merchandising insights that derive an immediate and real change in your business.
Shelfbucks gives you get insight into what's happening with your merchandising. What revenue is driving in the store for you. What's happening with your category share. Is your category and margin improving?
At Shelfbucks, we don't give you data…
We give you answers!
This allows you to change your business for the better.
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Charlie Walden
Chief Technology Officer
How It Works:
Shelfbucks has taken the current trend of electronics becoming sort of ambiguously integrated into our lives.
Electronics are integrated into the retail supply chain process for the point of purchase displays.
By that, we have the concept of a small piece of disposable electronics that gets integrated into the point-of-purchase display at pack out and then it travels with the display through the supply chain ultimately landing at the retail store.
What this gives us is the ability for that device to broadcast small sort of beacon like packets that allows us to detect that it's arrived at the store.
Then once it's arrived at the stores we can also detect whether it has been put out in the front of the store or whether it's just staying in the back of the store.
Your dashboard can also determine when it's life is over and when it actually leaves the store.
For the first time we can very precisely measure these data points in every retail store in every campaign that's enabled with Shelfbucks.
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Kris Milam
Director of Manufacturing
We Make Displays Smart:
Our customers, retailers and brands, create campaigns.
They design a display.
They send it out to all of their stores.
They hope that they get that ROI.
What Shelfbucks does with it's product is...we make those display smart.
Shelfbucks hides a device on the display and at that point we have visibility.
We can see it going from the pack out facility to the distribution
center, to the retailer, to the back floor, on the floor and then ultimately being recycled.
What is unique about the Shelfbucks product is it is real-time data at a national, regional and local levels.
This enables our customers to make real-time decisions and maximize their ROI.
They haven't had the ability to do that before.
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Kevin Stambaugh
EVP and Chief Product Officer
It's Proven to Give you a Sales Lift:
The goal of the Shelfbucks merchandising measurement product is to improve the ROI of traditional merchandising programs in-store.
The underpinning of that is the ability to measure merchandising effectiveness at a level that's never before been possible.
The way we actually turn that into better returns for both retailers and manufacturers is three ways.
The first is we help select the most effective programs by looking at some historical data and some recent trending data.
We can help pick the programs that are most likely to be effective in upcoming time slots.
The second thing is, once a program has been selected, we help target that program to the stores where it's most likely to be affected.
Both in terms of execution and in terms of sales lift.
We look at really detailed data on category and historical trends to really target that program to the best possible stores.
Then finally, once that's been selected and targeted appropriately, we work with the store operations team to make sure the execution,
while that program is in-store, is as high as it can possibly be.
We have mechanisms that identify programs that are performing but are under executed.
We can work with the store ops teams to make sure that the most effective programs are on floor for the longest period of time.
That's going to generate the high net sales for both retailers and manufacturers.
The ability to select the best programs, target them at the best stores, and ensure the highest execution is guaranteed to
give you a lift on your merchandising programs.
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Kevin Stambaugh
EVP & Chief Product Officer
More Data Gleans You the Most Insights:
Many of the most effective companies today are effective because they are using algorithms on large sets of data to do a better job of tuning, targeting and predicting results.
That's our end goal here at Shelfbucks.
We are generating some unique data that's never before been possible to see.
We are doing it at a massive scale.
What that enables is the kind of really sophisticated data analysis and
machine learning that will let you do much more accurate forward-looking predictive analysis.
That's going to start to affect everything from how programs are bought, how programs are planned, how they are targeted.
Ultimately even how they are treated once they get to stores.
You can only do that with massive amounts of data.
The reason that companies like Google and Facebook are so successful, isn't just because they have smart people looking at their data.
That's great.
It's because they have the most data.
If you have the most data, you can glean the most insights.
You can learn the most actionable things with which to go forward.
That's exactly what we are doing here at Shelfbucks.
It's not just about pulling some data in and putting it into an analytic screen for people to study.
It's an evolutionary process...that is absolutely step one.
Over time there's so much data generated that you can start to look at amazingly
detailed patterns that you just never could have foreseen.
Those are going to start to bear fruit in a way that the industry doesn't quite comprehend.
It is really going to be game changing.
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Kevin Stambaugh
Chief Product Officer
We Make Visible What Was Traditionally Invisible:
The Shelfbucks merchandising measurement product is a real win for the store operations team.
When we are talking to our customers they first think, "Oh, this is going to be a tool that's going to point out how store operations isn't doing their job and isn't executing programs effectively".
But of course, that's not what is really happening.
There's a very complicated planning process that is happening category by category.
Way in advance of when these things are going to hit the stores.
That's hard to time.
What then happens is a lot of programs end up flooding stores at the same time.
They're not always targeted perfectly at the stores they're going to. It's just very difficult for store operations to execute on everything all at once.
It would take this perfect scenario of everything selling through at the exact right time it's predicted.
Everything arriving when it is supposed to.
That's not what happens.
One of the things that we do, Shelfbucks really makes visible what has traditionally been invisible.
We make it really clear when programs are selling slower than they should.
The programs are still on floor and are causing inventory problems.
We highlight when there's too many programs sitting in the store, more than they can execute.
Our goal is really to be an ally to both merchandising and the store operations so that they can plan what can affectively be executed and when there are gaps in that perfect plan.
We can surface how to improve that going forward so everybody wins!
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Kevin Stambaugh
EVP & Chief Product Officer
What Can be Measured Can Be Improved:
You can't improve what you can't measure.
One of the challenges that retailers and CPG's have had is there are parts of the business that are notoriously hard to measure.
Merchandising effectiveness is one of those.
What happens, because you don't have accurate data, you invent a lot of proxies and work-arounds to try to give yourself some sense that you're making good decisions.
If you've been doing that for a long time, like a lot of our customers have, then you start to believe those proxies more than are really warranted.
People are pretty surprised by the data that we show them and they are really learning what's actually going on with their merchandising programs.
You know the truth is, if you're making decisions without data, you're just guessing.
That's just the reality of it.
Overtime you can believe that those guesses are pretty good but really everyone would agree that data driven decisions making is where things are at.
Everyone would want more data to make decisions.
The important thing, the proxies that people have used traditionally are industry studies which may give you an overall feeling for what display execution is, for example.
Or you might do some sampling, small snippets of sampling to try to figure out for your particular program what's going on.
These are both highly inaccurate, but it's better than nothing, has been the feeling in the industry.
The problem is, even if you get that right, you're really missing the opportunity for improvement because that data is such a high-level.
Even if the industry standard is, pick whichever number you'd like to believe, if you believe the standard industry is 65% and you do a measurement, some sampling of your program and believe you got 70%, that's really not actionable data.
It doesn't tell you anything that you can take action on.
But the real value in any measurement program is, you want to put a continuous improvement program in place so that every program
you run is better the next time then it was the last time.
It doesn't matter whether you beat the industry average or you lagged the industry average.
You want every program to improve.
The only way you can do that is to have really detailed data of what truly happened with your program.
Ideally what you want, is industry information about what's happening with every program.
Even if you don't have the insight, you can't see necessarily what's happening with your competitors program.
What you want, just like all of the great data companies have today,
Google and Facebook, you're getting the advantage when
you use those tools of all those things those companies have learned by looking at all of the searches that were being done and all of the social content that was being viewed.
That's what we do here at Shelfbucks.
We have real value in improvement program that is getting to the level where when you plan a program for next fall, for example, you get all of the insights that we learned about what went well the last time.
Again it won't be as simple as should I do that program again or shouldn't I do that program again.
It will be what are the three things that I can change so that I have a better program this time than I did last time.
That's the kind of continuous improvement that you really need to put in place as a business.
That's how you're going to get that better next year and the year after and the year after.
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Kevin Stambaugh
EVP and Chief Product Officer
Can You Test and Learn While Your Program is Live?
One of the most important aspects of integrating a digital component into what's traditionally been just static print merchandising is
this ability to test and learn while the program is live.
Of course online, that's been done for a long time now.
That's one of the main reasons that digital marketing this so effective.
It's not that digital marketers are smarter than non-digital marketers.
It's that they have the ability to try things very quickly and to select what's working and then to put all their weight behind that particular message.
It's not necessarily one message, that's the other benefit.
It might be five different messages that are working but with different audiences.
Shelfbucks gives you the ability to really better segment your shoppers.
Then do some early testing and learning while your programs are in-store and to be able to tune those as you go.
That's just adding a whole other level of possible success on top of this program that you have planned many months in advance.
That just hasn't been available today in-store.
It's always something that you had to do out of store.
But of course in-store is where the shopper is making their purchasing decision.
The ability to engage with the shopper while the shopper is making their decision is 100 times more effective then it's going to be off-line when they are sitting at home and you are trying to motivate them to then come to the store and make their decision then.
We think this is really a game changer for what's been traditionally print merchandising.
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Gary Overhultz
Chief Implementation Officer
Shelfbucks gets CPG's & Retailers on the Same Side of the Desk:
Both CPG's and retailers win, when the right product is in the right place at the right time.
Shelfbucks information puts them on the same side of the desk
with timely information they can agree on what needs to be done and how it can be done better.
The return on investment is a lot less about what the new information is versus what new actions can be taken as a result of better confidence and more insight granularity.
The early adopters have an advantage over companies that will follow along later.
These early adopters will be able to strategically grow their business
as a result of the new levels of partnership between CPG's and retailers.
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Brett Hurt
CEO & Co-Founder of Data.World
Shelfbucks Helps Foster Collaboration
One thing that's a challenge in our space and the space that Shelfbucks is operating in, is that it's obvious online who the person is you are selling to and who you were servicing.
You're servicing and selling to the VP of E-commerce.
In the store; you've got store operations, you've got the merchants, you have the marketing people, you have the people that are responsible for the circulars, people who are responsible for negotiating with each of the vendors, and you have the brands.
I think the unique thing that we are able to offer at Shelfbucks is the best practices to bring everybody together.
To get everybody collaborating.
Because let's face it, we are in a time at retail where collaboration is required.
Stores are under siege.
They are being show-roomed.
Amazon is not slowing down.
This is an opportunity for us to come to the table and really come up with the best practices.
The "how to's" for all of us to work together to make the in-store experience every bit as good, and in my opinion, better then online.
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