Want to improve your financial performance and deepen engagement with your customers? Improving your value perception is key. How customers feel about your prices and quality are the 2 biggest drivers of financial performance and emotional connection for a brand, as shown in dunnhumby's nationwide study, the Retailer Preference Index (RPI). With findings from 11,000 US households, the study sheds light on what's most important to customers, and highlights which marketing levers retailers must pull to influence value perception. As retail continues to fragment and commoditize, understanding how to develop a strong value proposition is vital for future success.
Watch Chain Store Age's webinar to hear our Pricing and Strategy experts Ted Eichten and Eric Karlson present key findings from the RPI which can help retailers shape winning strategies.
Download today to learn:
- What drives retailer preference among customers?
- Which retailers are winning and losing? And why?
- Which 3 factors have the greatest influence on performance?
In dunnhumby's inaugural Retailer Preference Index (RPI) study, a comprehensive nationwide study, we explore the evolving US grocery landscape to help retailers navigate an increasingly fragmented market, where shoppers are, on average, shopping at four grocery stores per month and regularly buying groceries from at least three other channels. The study focuses on the following questions:
- What drives preference?
- Who is winning and losing?
- Why are they winning or losing?
- What can grocery retailers do to improve preference and performance?
Existing retailer rankings by Consumer Reports or Market Force only use survey data to capture how shoppers feel about the various banners without linking the emotion to financial performance. Others, like Supermarket News, rank banners based on financial metrics but fail to capture how people feel.