Clerk Announces Merchandising Partnership with Meredith Corporation to Optimize Store Performance
On July 6, 2021, Clerk, a retail technology company, announced a merchandising partnership with Meredith Corporation (NYSE: MDP). This collaboration aims to enhance the management of Meredith's publications in over 15,000 stores quarterly, utilizing Clerk's machine learning technology. The partnership is expected to improve stock levels and shelf placement of popular magazines, leading to increased sales opportunities through faster restocks. Notably, Clerk has previously identified a 14% sales growth opportunity for other brands by addressing out-of-stock issues.
- Partnership with Meredith will optimize magazine stocking in over 15,000 stores.
- Utilization of machine learning technology to enhance merchandising and inventory management.
- Partnership expected to drive sales growth through improved stock availability.
- None.
AUSTIN, Texas, July 6, 2021 /PRNewswire/ -- Clerk (formerly Popspots), a retail technology company, today announced a merchandising partnership with Meredith Corporation to help manage their publications in over 15,000 stores per quarter. Meredith will use Clerk's machine learning technology to ensure their magazines -- including PEOPLE, Southern Living, and Allrecipes -- are in-stock and shelved correctly.
The partnership will help Meredith identify when titles sell out at any of its 2 million newsstand pockets, allowing for faster restocks and providing consumers with more of the titles they want— all while generating sales growth opportunities with retail partners.
"Every second of every day, a customer purchases a Meredith magazine at retail," said Cort LaMee, Meredith Chief Customer Officer and EVP of Sales & Logistics. "This innovative partnership with Clerk helps us ensure consumers have convenient and reliable access to the leading magazine brands they know and trust."
Additional benefits of this new partnership include:
- A streamlined approach to collecting and organizing in-store fixturing and merchandising data
- Data analysis to generate insights about in-store performance including sales velocity, fixture permanence, in-stock rate, and planogram compliance rate
- Custom reporting that's tailored to unique business needs at the store, display, and brand levels
Clerk's initial focus was providing merchandising and in-store marketing to retailers, which led to the launch of Grocery TV. They've since extended their services to the entire store with companies like Meredith whose retail presence and performance can benefit from the technology. Over the last 4 years, Clerk has run store audits for national CPG companies such as their work with a major candy brand that identified a
Meredith reaches 190 million Americans every month across a diverse set of platforms, and they continue to see retail as a key touchpoint and opportunity for growth. "As we extend our relationships with customers, it's important that we deliver a seamless experience for them regardless of where they connect with our content," said Chuck Howell, Meredith Senior VP of Strategic Sourcing.
"This partnership is another opportunity to further our vision of empowering brands to improve their in-store performance," Clerk CEO Marlow Nickell stated.
About Clerk: Clerk (formerly Popspots) is a technology company founded in 2016 that aims to build a better retail experience. While initially focusing on improving marketing and merchandising performance in the checkout aisle, their long-term vision is to simplify how brands and retailers market and manage their products throughout the store. Please reach out to Raven Garza and Ashley Nickell (ashley@grocerytv.com) for press inquiries.
About Meredith Corporation: Meredith Corporation (NYSE: MDP), a leading media company for nearly 120 years, produces service journalism that engages audiences with essential, inspiring, and trusted content. Meredith reaches consumers where they are across multiple platforms including digital, video, magazine, and broadcast television.
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