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Cooler screens revenue
Cooler screens revenue





cooler screens revenue

cooler screens revenue

The freezers have front-facing sensors used to anonymously track shoppers interacting with the platform, while internally facing cameras track product inventory. Politifact last month debunked a viral Facebook video that claimed “Walgreens refrigerators are scanning shoppers’ hands and foreheads for ‘the mark of the beast.’”Īvakian insists the tech is “identity-blind” and protects consumers’ privacy. (Walgreens did not comment on that.)īut beyond the confused social media posts, the tech has also attracted misinformation and conspiracy theories. “There’s a big movement in retail right now to create what’s called a ‘retail media network,’ which taps into all the ways brands can interact with that retailer digitally,” said Chris Walton, a former vice president at Target who runs the retail blog Omni Talk.Ĭooler Screens says 90% of consumers it has surveyed prefer its digital screens to traditional fridges, and that the displays provide sales lifts for stores. Companies pay Cooler Screens to run screen ads and retailers get a cut. The setup aims to help stores add high-margin advertising revenue to offset their core low-margin retail business. An ice cream company might want to run ads when it’s hot outside, while a coffee brand could hit the morning rush.

cooler screens revenue

How Heinz uses a fake number to keep its brand timelessīrands can place ads spread over multiple freezers, ones that display products’ nutritional labels, or ads triggered by weather or time of day. But Cooler Screens’ targeted digital ads deliver at the “moment of truth,” Avakian said, right as consumers decide which product to pull out of the fridge.Ĭlose-up of a bottle of Heinz ketchup in Pleasant Hill, California, in October 2021. Traditionally, in-store advertising has been limited to options like signs, promotions and prominent placement on shelves. It’s raised more than $100 million from backers including MicrosoftĬooler Screens CEO Avakian said he developed the concept after watching in-store customers whip out their phones to find product information and reviews. Though not all of Walgreens’ customers are fans, Cooler Screens’ concept has attracted prominent brands like Coke The spokesperson said the screens add value because they give customers relevant product information to help them decide what to buy, and that Walgreens is evaluating the pilot to decide whether to expand further. Avakian said the company aims to bring its digital displays to a broad range of retailers including those in beauty, consumer electronics and home improvement.Ī Walgreens spokesperson said in an email that Walgreens is “committed to exploring digital innovation in effort to deliver new and different experiences for our customers.” “I hope that we will one day be able to expand across all parts of the store,” said Cooler Screens co-founder and CEO Arsen Avakian in an interview with CNN Business.Ĭurrently the startup has about 10,000 screens in stores, which are viewed by approximately 90 million consumers monthly, according to the company. (CVS), GetGo convenience stores and Chevron Several other major retailers are launching their own tests with Cooler Screens, including Kroger (WBA) began testing the screens in 2018 and has since expanded the pilot to a couple thousand locations nationwide. (WBA) and Cooler Screens are pushing forward. For this type of utilitarian-related setting, people like their certainty and simplicity.” Sevilla doesn’t believe consumers are looking for novelty when they visit a grocery store: “We all love to get into a supermarket and know exactly what we’re getting. They’re not always seeking excitement,” said Julio Sevilla, an associate professor of marketing at the University of Georgia who studies consumer behavior.ĭigital screens, he said, can add uncertainty and physical barriers to a simple and literally transparent process: reaching into a glass fridge. “People really appreciate their routines. But many consumers aren’t eager to change their habits - and they certainly aren’t used to watching freezer-display ads. Retailers are eager to add new experiences to their physical stores.

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“The digital cooler screens at Walgreens made me watch an ad before it allowed me to know which door held the frozen pizzas,” said someone on Twitter.Īnother echoed: NOBODY needs TV screen replacing doors in your cooler aisles…. “Who on God’s green earth thought this was a good idea?” “Why would Walgreens do this?” one befuddled shopper who encountered the screens posted on TikTok. Cooler Screens fridge doors shown at a Walgreens in Bridgeview, IL on February 7th 2022.







Cooler screens revenue