Following a successful pilot wave, Independent Brands Australia (IBA) has shared details of its Platinum Program and an upcoming planned rollout, allowing retailers to benefit from a collaborative ecosystem and create a true omnichannel experience that inspires shoppers of the future.
At the 2024 IBA Trade Workshop held in August on the Gold Coast, attended by representatives from more than 700 stores and 130 supplier partners, members of the IBA leadership team hosted business sessions to share valuable industry insights and provide an outline on operational strategies.
The overarching theme of these updates was building a shopper-centric network that will enable accelerated growth opportunities and ensure long-term sustainability for IBA retailers.
An important element of that strategy is the Platinum Program, which is a culmination of the various Network of the Future initiatives that IBA has introduced over recent years.
Platinum allows retailers to leverage the benefits of IBA’s network scale whilst creating a true omnichannel shopping experience through unlocking the potential of IBA’s loyalty program, driving personalisation of offer.
John Barakat, General Manager Merchandise and Operations, and Rod Pritchard, General Manager Strategy and Transformation, shared an overview of the program mechanics and provided an update on progress of the pilot program that commenced in May.
Pritchard stated: “We’ve brought new capabilities to the network, and many of you are taking advantage of those opportunities, but we’re looking to take this next quantum step, and Platinum gives us that capability to package it all up and create a new benchmark for the independent retail channel.”
The IBA Platinum Program is an opt-in for retailers, consisting of four key areas: POS, ranging, execution and digital programming.
Starting with POS, Pritchard likened this element to a growth engine, strengthening the digital conduit between IBA and its retailers. Within the IBA Platinum Program, new POS capabilities will drive clean, consistent data into stores and across the network to enable single user identity and loyalty.
Preferred POS vendors will support IBA’s digital capability by delivering loyalty, e-commerce, gift cards, host file delivery and e-invoice, all critical in driving growth, engaging shoppers and unlocking operational efficiencies.
Speaking about ranging and retail execution, Barakat highlighted an ongoing focus on NPD and emerging products, and the introduction of a sundries range to key retail.
Platinum retailers will drive the existing Instore Excellence Program, along with the introduction of three power displays. IBA is also investing in app-based technology that enables retailers to report back on best-in-class display execution.
All of this will allow retailers to unlock new revenue streams and increase average key retail rebates with supplier partnerships.
“We know that shoppers are going to demand more from us into the future, so how do we step up the value of the service we provide them? How do we finetune our ranging to get new products to them sooner? We need to dial up the personalisation of our offer,” says Pritchard.
“Everyone wants growth, but it’s not just growth for growth’s sake. We’re working to ensure that growth is more profitable than ever. To do that, we need to tap into the power of technology – technology that supports you operationally but also enables digital platforms – driving the clean data that ultimately delivers a new revenue stream for you, our retailers.
“Speaking about operational efficiencies, we have just scratched the service in terms of what POS can deliver retailers on a day-to-day basis. And lastly, execution, everything will come down to our ability to execute at a standard that no one has seen before.
“What we’re after is consistent, quality execution at scale, and Platinum will give us that. Platinum is our opportunity to showcase the best of the best. It is about showcasing the very best retailers in the independent sector,” he concluded.
After the success of the first pilot wave, Barakat was pleased to share details of an upcoming planned rollout with attendees.
National Liquor News shared more insights from the 2024 IBA Trade Workshop in the September issue of the magazine, which you can read below.
