The "new normal" isn't really normal at all. Life amid COVID-19 has forced U.S. consumers to adopt new behaviors, dramatically impacting how they shop, work and go about their daily lives. Trips to the grocery store are now once weekly trips to buy essentials and stock the pantry for home cooking. And, vulnerable consumers now rely on online ordering and delivery services they were once reluctant to try.
On average, it takes 66 days for new behaviors to become automatic. The majority of U.S. consumers will cross that milestone under pandemic restrictions very soon. Retailers should prepare now to successfully serve their customers after the "COVID curve."
Join dunnhumby's Jose Gomes, President for North America, and Eric Karlson, Head of Strategy for North America, as they discuss:
- dunnhumby's model of the three phases of the COVID-19 pandemic
- Insights and learnings from retailers around the globe
- How retailers should prepare to adapt their customer strategy for the "new normal" of customer behaviors and expectations
This webinar originally took place on Tuesday, May 5, 2020 as part of an exclusive four-part webinar series with Retail Leader and Progressive Grocer about how to adapt your Customer Strategy now for life after the curve, and possible implications for Customer Engagement, Category Management, and Price & Promotions.
FOR RETAILERS
Smarter operations and sustainable growth, powered by Customer Data Science.
FOR BRANDS
Better understand and activate your Shoppers to grow sales.
shallow focus photography of person holding smartphone
Facing rising costs and shrinking margins, finding new revenue streams should be an urgent priority for grocery retailers the world over. Blessed with volumes of valuable customer data and a rich menu of owned media, this unbeatable combination provides enormous scope for creating sustainable growth. Yet so many grocery retailers are struggling to make this a reality.
To better understand why so many retailers aren't taking advantage of new revenue streams while improving the shopping experience for their customers, we commissioned a global study with Forrester Consulting. Download your complimentary copy of Forrester's research to learn about the barriers holding retailers back from revenue generation and the recommendations to overcome the challenges.
Key findings
- 85% of grocery retailers have identified creation of new revenue streams as a priority for 2020
- Despite high levels of confidence in their data strategies, only 15% of retailers have the right capabilities, people, technology, and processes to improve customer experience and monetize their data.
- Most are also missing out on lucrative revenue through monetizing their media. Challenges with data, technology, expertise, and culture are the greatest barriers to progress.
- Retailers who are able to successfully utilise data insights, are reaping benefits with 61% seeing an improvement in the customer experience and 56% seeing growth in existing revenues and revenue streams.