3×3 CEO Mike Provance, PhD, and Nielsen CGA Client Solutions Director Matthew Crompton discuss how to navigate recovery in the post-COVID world
New York, October 12, 2020 – 3×3 CEO Mike Provance, PhD, will join Matthew Crompton of Nielsen CGA for an enlightening discussion on the future of beverage alcohol retail during Bar Convent’s Global Bar Week, hosted by Park Street University, on October 14, 2020. Provance, who leads 3×3, a marketing technology company specializing in the beverage alcohol space, will cover the off-premise by illuminating trends from 3×3’s network of prominent independent retailers. Crompton, Client Services Director for Nielsen CGA, will cover the on-premise. The event will take place virtually and registration is free for participation.
The COVID-19 pandemic has not only disrupted normal sales patterns, it has also forced businesses to steer through an uncertain recovery period and build a “new normal” for the post-COVID world. The beverage alcohol industry has to find new ways to use data that will lead to recovery and prosperity. Moderated by Emily Pennington of Park Street University, the panel discussion will explore how both on- and off-premise segments can use data and digital marketing to navigate the recovery process.
“COVID-19 has significantly altered the way consumers shop for alcoholic beverage products for the foreseeable future,” said Park Street CEO Dr. Harry Kohlmann. “We are proud to host this panel of retail experts who will provide guidance on what brands should know before planning their channel strategy for 2021.”
In 2020, there has been a dramatic shift in the proportion of alcohol sales sold through each retail channel. Insights on the new consumption patterns of U.S. consumers and what’s driving these purchasing decisions will be disclosed to help businesses make smarter decisions.
“As we look at the past summer and all of the events that defined it, one of the forces that has been most affected by changing consumer behavior is the race to digital commerce,” said Provance. “This change began before the COVID-19 pandemic, and the beverage alcohol industry has historically been slow to adapt. Now, the race is on for brands and retailers alike to catch up to consumer purchasing habits.”
During the panel discussion, 3×3 will explore ways retailers can use digital marketing activations to bring the element of discovery back into the consumer shopping experience. Independent retailers must compete for consumers who are currently shopping at grocery and big box stores, purchasing well known brands out of convenience and safety. Independent retailers need to show consumers that they can offer a greater experience through hyper-targeted digital marketing.
About 3×3 – www.3×3.us
3×3 is a marketing technology company that brings together the expertise of several alcohol and technology industry veterans with Loeb.nyc – a venture capital firm. 3×3 combines receipt-level transaction data from its exclusive network of retail partners with consumer intelligence to deliver groundbreaking insights and marketing capabilities that enable suppliers and retailers to launch new brands, acquire more customers and increase loyalty.