Global Commercial Sales Executive | President | Business Development Leader | Marketing Champion | Brand Management Expertise | Strategic Solutions Focused | Innovator
Good article for grocery retailers (and brands) on the importance of key perimeter categories in terms of differentiating vs. competition and maintaining shopper loyalty (during a time when trip missions are evolving and shoppers are gravitating to discount grocers).
The US convenience retail industry is home to some of the most innovative retailers in the world and accounts for 80% of all fuel sold in the US. The channel’s largest in-store category, food service, also grew the fastest in 2023, according to data shared at the NACS State of the Industry Summit. The $860 billion convenience retailing industry may be gathering momentum, but its performance could be even stronger. That was a key takeaway for retailers at the event who learned about advanced technologies and new site-wide analytics capabilities that provide a comprehensive view of customer behavior and unlock new #merchandising and #marketing possibilities. Here’s what SymphonyAI’s Mike Troy had to say about the state of convenience retailing and why the use of site-wide analytics is essential for stronger growth in 2024 and beyond. Read the blog: https://lnkd.in/g4v_m2dG
Retailers have been innovating with self-checkouts, but what are the key considerations for retailers and suppliers due to the shopper payment journey changing? Click on the link to find out... Dan Butler | IGD (Institute of Grocery Distribution) #selfcheckouts #retailtech #groceryretail #retail #trends #innovation #authoredarticles
The fight for grocery dollars is heating up. Retailers that offer shoppers the right assortment of products at the lowest prices are likely to win. In order to keep dollar and discount stores from stealing share, other retailers need to borrow their pricing and merchandising strategies to connect with cash-strapped consumers. #dollarretailers #discountstores #merchandizingstrategies
What does the European grocery retail landscape look like in 2024? As online shopping continues to gain momentum and sustainability becomes increasingly important, how can retailers keep their competitive edge? Uncover the major trends that are influencing the future of grocery retail across Europe. #GroceryRetail #RetailTrends #ConsumerTrends #Sustainability
How do shoppers choose their preferred grocery store? As mass merchants take an increasing share of the grocery market, value is consistently mentioned as the determining consumer driver. But there’s more to this story. Proximity, product quality, and price all combine to influence store preferences to varying degrees—depending on customer segment. And that’s good news for regional grocers. Just as with in-person shopping, proximity remains a crucial factor for eGrocery shopping, as many consumers prefer to pick up their orders from stores close to home. Product quality, particularly in fresh and prepared foods, also significantly influences store choice. Certainly, per product pricing is important, as many shoppers prioritize deals and discounts. But grocers should remember that many of their most loyal customers are drawn to convenience over cost.
"Fantastic insights! At HiperCom, we closely monitor promotions & discounts as well as loyalty programs (#3 and #4), and it's incredible how much impact they have on boosting basket size. If these strategies are crucial for growth, then keeping a sharp eye on competitors' moves in these areas becomes absolutely essential. Would love to dive deeper into how other retailers are adapting and how competitive behavior is influencing the effectiveness of these tactics!"
Operations Manager in Retail of supermarket & hypermarket || Retail Coaching Processes || Business Development
Boosting Basket Size in Supermarkets and Hypermarkets: Key Strategies.. In the competitive world of retail, increasing the average basket size is crucial for growth. Here are some effective strategies: ⭐ Cross-Merchandising: Place complementary products together, like chips near dips, rice maker near rice section, to inspire additional purchases. ⭐ Impulse Buys: Position small, high-margin items near the checkout for those last-minute additions. ⭐ Promotions & Discounts: Offer bulk discounts or multi-buy deals (e.g., "Buy 2, Get 1 Free") to encourage more spending. ⭐ Loyalty Programs: Reward customers with points or discounts for larger purchases. ⭐ Strategic Product Placement: Highlight high-margin or essential items in prime locations. ⭐ Upselling & Bundling: Train staff to suggest premium versions or bundles of products that naturally go together. ⭐ Personalized Offers: Use customer data to tailor promotions that resonate with their preferences. ⭐ In-Store Signage: Guide customers to spend more with well-placed signs that highlight deals and suggest pairings. Maximizing basket size not only boosts sales but also enhances the overall shopping experience. What strategies have you found effective? #Retail #Supermarkets #Hypermarkets #SalesGrowth #CustomerExperience
Latest report on trends driving retail in LATAM
I help retail and brand businesses optimise their operations to create seamless and satisfying shopping experiences for their customers.
How to increase basket size for retailers Retailers are incorporating metrics called “walk rates” these measure the time a typical customer spends looking for certain products before giving up and leaving without buying anything. High selling products with short walk rates get to be in the “strike zone” which are just below eye level, where retailers often put products they want consumers to notice. A few percentage points in sales increase can translate into success for own brands and well known brands brands a like. Navigation through good POS enables shoppers to get to what they want quickly therefore giving more time to allow consumers to spend more. Speak to our experts here at SMP Group for help on engagement instore. Heron Foods Deichmann Morrisons One Beyond Poundstretcher Ltd. Poundland & Dealz
Founder & CEO, Allume Group | Rethink Retail Top Retail Expert | Podcast Co-Host | Digital Commerce Educator | Ex-Amazon | Shopper-Obsessed
A healthy combo of inflation and smart branding is driving growth in #privatelabel...and changes in #shopper behavior. According to Diana Leza Sheehan in Grocery Dive, "32% of consumers plan to replace #nationalbrands with private label next year" “People are definitely buying private label because it’s a cheaper alternative. But they’re also buying private label because of the #value they get from new items and high quality #products they feel are tailored to their needs from the #retailers that they trust in their community." #commerce #retail #storebrands https://lnkd.in/gYK9pbZe
Curious about how many grocery stores are in the U.S. and what trends are shaping the market? This in-depth analysis covers everything from store counts, top-performing states, and customer behavior to the rise of convenience stores. With over 305,000 grocery locations, it offers key insights for businesses on site selection, pricing, and improving customer experiences. For businesses aiming to leverage data in decision-making, this guide is essential. #import #export #USA #GroupMRA #sales #retail