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GoPro Identifies $40+ MM Revenue Opportunity With Improved Retail Execution

GoPro, a leading consumer electronics brand and maker of world-class cameras, invests heavily in merchandising its products through specialized in-store displays across thousands of retailer locations. GoPro counts on these displays to connect with consumers. And in order to maximize their intended impact, these displays need to be fully executed and functional.

Challenges

Unfortunately, maintaining full compliance of in-store displays is a challenge all brands face; broken and incomplete displays are a fact of life in retail. But when GoPro’s brand team visited several retailers, the state of its in-store displays were cause for concern.

The team observed consistent problems:

  • Retailers were not installing acrylic security boxes, resulting in incomplete or disorganized displays.
  • Television monitors meant to stream GoPro content were often broken.
  • Some display lights, designed to draw attention to products within the display, were turned off.

Although GoPro shared these concerns with retailers, it needed a more compelling way to generate buy-in from retail partners. Its team sought to produce a credible, trustworthy estimate of sales dollars lost as a result of incomplete compliance.

To do this, GoPro needed to fully track the degree of noncompliance in specific stores, and then tie those non-compliant stores to sell-through rates.

GoPro turned to Wiser and NPD for help.

Solutions

Wiser created a systemic, in-store program using the power of the crowd to capture offline data and images about the “health” of GoPro’s display—across the mass merchandise, electronics, mobile, and sports retailer categories. Our weekly mission: snap photos and answer a brief survey about GoPro displays in each store. Meanwhile, the NPD Group compiled point-of-sale (POS) data for the same stores, for the full time period the GoPro displays appeared.

The NPD Group then mapped out decision trees that compared display-compliant and non-compliant stores. We analyzed the rate of sales for stores by making the following direct comparisons (holding all other factors constant):

  • Acrylic Box: Yes or No
  • TV Monitor: On or Off
  • Display Light: On or Off

This enabled the NPD Group to calculate the sales impact of noncompliance at individual retail locations. GoPro displays with the security box performed 121 percent better than those without.

PRODUCTS USED:

  • Retail Intelligence

GoPro displays with security boxes performed 121% better than those without it.

GoPro

$40+ MM

Revenue Opportunity

121%

Sales Lift In Compliant Displays

Results

The data partnership between Wiser and the NPD Group found a strong correlation between in-store merchandising compliance and GoPro product sales (all other factors being equal). Specifically, the NPD Group identified the mass merchandise channel as the greatest opportunity for compliance improvement, translating to more than $40 million in potential sales. Moreover, they identified acrylic box use as the biggest driver of incremental sales.

We worked with GoPro to take action on these findings in two important ways:

First, by putting a dollar value behind a broken display screen or missing acrylic box, we’ve equipped GoPro with the upside potential for retailers to fix these issues, and a research-backed strategy to persuade them to fully implement and maintain GoPro displays.

Second, GoPro is using the results to optimize future in-store marketing initiatives. Its brand team will be making more data-driven decisions on which types of displays are right for specific retailers and stores. Furthermore, when designing displays for these stores, GoPro now knows which elements of display are critical for success.

Gain a Partner in Wiser

Wiser Solutions is in it for the long haul. We will be a dedicated partner to your marketing efforts as we work with you to establish baselines, run tests, optimize workflows, and turn our real-time data into confident marketing decisions for your business.

Knock that next merchandising campaign out of the park. Win market share from your competition with price optimization. Understand shopper insights to create better messaging. No matter your goals, Wiser is here to help.

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