Discounting is a pivotal strategy for grocers as consumers are focused on savings and multi-buy deals, with inflation significantly affecting consumer power. Digital Transformation affects customer loyalty, and grocers are reshaping discounting strategies to acquire price-sensitive shoppers.
Grocers need to drive sales by strategically balancing customer retention strategies and discounting strategies. This will boost sales and not erode margins in an inflationary environment.
81% of grocers believe remaining competitive in 2024 is paramount, and personalization is a pivot to attract omnichannel shoppers. As grocers embrace personalization in 2024, 83% of shoppers emphasize savings, and 93% prefer tailored offers and promotions.
Kroger's Q4 results show an increase in their sales of 6% more than in the same quarter last year. Kroger's increased digital engagement is a result of their program "Accelerate with digital" and an increased focus on lowering prices while personalizing and increasing promotions for their customers.
Grocery Doppio's January Scorecard highlights digital channels accounted for 13.8% of the total grocery sales, showing grocer's optimism in using AI in inventory solutions and retail media revenues.
Walmart aims to ease consumer budgets by lowering food prices before the holidays, despite caution over a 5.2% revenue growth in Q3 2024. The retail giant anticipates a dip in holiday season spending.
This article will delve into the legacy of old loyalty programs. With the evolving customer landscape, loyalty programs have to become more experiential to capture customers' engagement and fuel sales through loyalty programs.
In the second quarter of fiscal year 2023, Albertsons demonstrated a robust performance, achieving a 2.1% year-over-year revenue increase, with total revenues reaching $18.3 billion.