Shelfbucks [1] this week announced that it has raised USD 9 million in Series B funding to continue bringing retailers and consumer packaged goods (CPG) companies into strategic partnerships through its Shelfbucks MEASURESM merchandising supply chain platform. The company also announced the addition of two directors to its board.
The funding round was led by multiple retail industry veterans as well as existing investors. Shelfbucks will utilize the capital for nationwide rollouts of its platform with leading drug and grocery store chains for more than 20 CPG companies and hundreds of in-store merchandising display campaigns in 2018.
For retailers and CPG companies, secondary promotional displays generate significant incremental sales from store perimeters and aisles. Every day a display is on the sales floor equals incremental sales and profits. Therefore, executional excellence is key to winning sales and share. CPG companies integrate the Shelfbucks MEASURESM platform into product displays to actively measure execution and improve performance of every display, every day, throughout the entire supply chain and life of a campaign. These powerful, real-time data and field alerts improve display execution and sales by 20 to 30 percentage points. Shelfbucks data also decreases excess inventory by 20 percentage points, which improves product turn and increases sales volume.
Shelfbucks CEO Erik McMillan explained how his company’s retailer and CPG partnerships are transforming the process – and performance – of in-store product merchandising, he told us “Historically, retailers and brands lose billions of dollars in potential sales every year due to product displays that never reach shoppers, are executed at the wrong time, or are not accurately measured to identify the greatest opportunities for additional sales,” Mr. McMillan said. “We developed the Shelfbucks MEASURESM platform to solve these industry-wide challenges with measurable accuracy. In addition to display execution and performance, we precisely measure incremental sales lift attributable to individual campaigns, stores, displays and product SKUs. More importantly, we enable retailers and CPGs to take immediate action to significantly increase sales from current and future campaigns.”
Shelfbucks also added two new members to its board of directors. Newly appointed director Bernie Brennan is the former chairman of The National Retail Federation and served as CEO of Montgomery Ward. Bernie was also CEO of the retail holding company which owned Vons Supermarket during a time of major growth. A Shelfbucks investor, Mr. Brennan also has been an investor and principal in retail-related software technology companies over the past 20 years. The company also appointed Tom Dammeyer to the board. Mr. Dammeyer is a Shelfbucks investor and president of CAC LLC, a private investment company based in San Diego.