PROFILE
  • Ric Noreen
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Ric Noreen

Managing Director Waypoint Strategic Solutions
35 years of general management, consulting, marketing, sales and strategy leadership in businesses ranging from $30 million to $30 billion across multiple industries including consumer package goods; commercial and industrial products, fashion & apparel, telecommunications; insurance; information services; grocery retailing; advertising and; capital equipment. Demonstrated ability to generate revenue and profit growth by driving change and implementing innovative marketing, sales, and business development initiatives. Excellence recognized in strategic vision, planning, and change management in a sales environment Extensive European consulting experience with fortune 100 companies creating Joint Business plans with both major Commercial and Retail Chains all classes of trade. Proven ability to export best practices across countries with consistently strong results.
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  • Posted on: 05/15/2018

    Retail loyalty programs are no longer in the cards

    The ease of becoming a Bronze level shopper in Macy's program feels flexible with no strings attached, and therefore valuable to their currently less loyal shoppers. As always, the return on the cost of these benefits is unlocked by maximizing the insights gleaned from the data. Customized offers, linked to the demographic and life-stage is key to gaining that marginal purchase. And as always, the vendor's ability to learn and leverage these insights in their there promotional efforts directed at the retailer's shopper base in vastly under-utilized. If manufacturer's were to join forces to market both individually and collaboratively to these loyalty card holders, the flywheel would really begin to turn.
  • Posted on: 09/01/2017

    What are some common missteps when launching loyalty programs?

    The shortfall in many retail loyalty programs is the under-utilization of rich data, often because of an over-emphasis on its targeting and delivery of price-oriented promotions. While effective in the short term, like any continuity-based promotion, retailers are training the shopper to “wait” for the incentive and the lines between base and promoted price becomes blurred. The way to get true ROI from a loyalty program is to embrace the Big Data and mine it until your back breaks. Inside this dig site, the miners will uncover three precious stones: 1.) data to gain new insights about each shopper's path-to-purchase, details on what they buy, when they buy it and how often, and how they choose who to buy it from, 2.) data that is transformed into insights which can be shared the basis for collaborative planning between the retailer and its vendor partners and, 3.) insights to create a customized shopping experience. Using the data gathered, along with technology such as smartphone apps or smart shelves, the shopping experience moves to a much more intimate program where each shopper is receiving rewards, discounts and coupons that appeal to them specifically.
  • Posted on: 08/16/2017

    Is it time to reinvent category management?

    The next generation of category management, equipped with more data, analytics, and insights, will be best enabled when we can see it as the basis for CPG supplier, retailer, and consumer collaboration – with both supplier and retailer sharing data more freely to better understand and facilitate the customer journey. It’s not so much re-inventing as it is evolving, and making better use of, and sharing the data that we now have available to us. Those mutually derived insights will become the foundation of of collaboratively developed long-range strategic growth plans.
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