Find Customized Innovative Products for Each of CU's 15,000 Stores

BGF Retail Forms New TF
Analyzing Consumer Data, Fixtures, and Traffic Flow

[Asia Economy Reporter Seungjin Lee] "Find innovative products"

On the 11th, BGF Retail recently formed a new Product Innovation TFT (Task Force Team) under the Product Headquarters. The Product Innovation TFT aims to analyze consumer purchasing patterns to find and apply optimized formats for individual stores.

The team is led by Executive Director Youngcheol Jang, who is in charge of the Product and Overseas Business Division, and is composed of experts from various fields such as MD (Merchandising), store facilities, sales management, and marketing. Executive Director Jang was specially recruited as a Managing Director at BGF Retail in 2016 and was promoted to Executive Director in this year’s regular executive personnel reshuffle. The special recruitment at that time was conducted with the purpose of strengthening the discovery of new growth engines by bringing in external experts in strategy and innovation.

The main task of the Product Innovation TFT is to study the 'experience' of purchasing products rather than the products themselves. The core value is how consumption at CU does not end as simple consumption but connects to a positive image of CU. To this end, the team analyzes not only consumer data but also the fixtures and customer flow paths that customers see and touch when entering CU stores. For example, as the average height of customers increases, the height of the display space that first catches their eyes changes, so the display height for the most popular products is adjusted accordingly. The team also researches differences in purchase rates when operating more than 10 snack items versus maintaining fewer than 5. The Product Innovation TFT plans to apply these detailed analyses to about 15,000 stores, segmented by age group and store location.

BGF Retail expects to generate synergy with related departments based on the research data from the Product Innovation TFT. They anticipate introducing new services that incorporate customer data into currently operated delivery and drive-thru services, and reflecting detailed elements in product development to differentiate themselves from competitors.

This content was produced with the assistance of AI translation services.