Customer First Radio Episode 2 | Erich Kahner, Associate Director of Customer Strategy at dunnhumby
The 2021 Retailer Preference Index: Who's winning and why. David Ciancio, Global Head of Grocery discusses the 2021 U.S Retailer Preference Index (RPI): Grocery Edition with the lead author of the RPI, Erich Kahner. They unveil key insights and discuss who is winning and who is best positioned for the future.
FOR RETAILERS
Smarter operations and sustainable growth, powered by Customer Data Science.
FOR BRANDS
Better understand and activate your Shoppers to grow sales.
In the first episode of Customer First Radio, Dave Clements, Global Head of Retail for dunnhumby and David Ciancio, Global Head of Grocery for dunnhumby kick off the series by discussing what it means to be a truly Customer First business, share which retailers and brands today embody a Customer First mindset, and examine how Customer First materialized during the pandemic with retailers.
Retail success takes many forms in today's dynamic marketplace. From large legacy retailers to disruptive start-ups and all manner of competitors in between, the paths to retail success involves common principals around which there is a wide variation of understanding and execution.
To bring clarity to the issue of what makes a winner, dunnhumby, the global customer data science firm, conducted a massive survey of more than 7,000 U.S. shoppers for the second annual Retailer Preference Index (RPI), the first study of its kind in the industry. In what's quickly become known as retailing's equivalent of research firm Gartner's often-cited Magic Quadrant, dunnhumby's RPI is a ranking of more than 50 large food and consumable retailers based on a combination of shopper sentiment and financial performance.
Join Retail Leader and dunnhumby's Grant Steadman, SVP of Client Services, and Erich Kahner, Associate Director of Strategy, for a deep dive into the RPI, the levers for success, and an unvarnished look at why some retailers win and others don't.
Topics discussed include:
- The 7 drivers of consumer preference and what's changed.
- Understanding the RPI methodology.
- How retail winners make emotional connections.
- The new rules of value perception, key drivers and amplifiers.
- The three things RPI laggards must do to improve their appeal to shoppers.
For a look at the retailer rankings and to understand how your business can benefit from implementing the RPI success framework, watch our webinar which took place on Thursday, September 5, 2019.
In our third annual Retailer Preference Index (RPI) for the U.S. grocery channel, we look at the $700 billion grocery industry which finds itself potentially less than a year away from an economic downturn, according to many economists. Which grocers are best prepared to weather the storm, and what can other retailers do to compete? The RPI seeks to answer these and other questions, including:
- What drives customer preference for grocery retailers?
- Which retailers are winning and losing? And why?
- What can grocery retailers do to improve performance and win more trips?
Existing ranking methods focus primarily on retail growth based on store counts and revenue size, without linking growth to emotional or financial performance. We have a different perspective, one that focuses on the consumer and their emotional connection to the various retailers within the grocery channel. Our study surveyed 7,500 US consumers to uncover how they think and feel about grocery stores, and how they shop them. All with a goal to understand how Customers perceive stores through seven different drivers, and how these perceptions affect both the emotional connection and financial performance.
Our goal: to help retailers better understand their customers to deliver a value proposition that aligns with their needs, to earn more trips and drive sustainable growth.
To learn more, download a free copy of the report. If your company is in our report and you'd like your custom retailer profile, contact us.
Customer First: How Retailers Can Improve Value Perception to Drive Preference and Performance
Growing competition from traditional players and new market entrants. Machine learning and artificial intelligence. The Connected Consumer. Retail has never been more challenging. But, forget the so-called "retail apocalypse." The end is not here. We're in the midst of a retail revolution where the winners and the losers are yet to be determined. As retail continues to fragment, understanding how to develop a strong value proposition is vital for future success.
Hear results and insights from dunnhumby's second-annual Retailer Preference Index (RPI), a comprehensive nationwide study of 7,000 US households. The webinar will shed light on what's most important to Customers, and highlight which strategic levers retailers must pull to influence value perception and win in their markets.
Join the webinar to learn:
- What drives preference?
- Who is winning and losing? And why?
- What can grocery retailers do to improve consumer preference and financial performance?
Webinar Date: Thursday, March 28, 2019
Duration: 1 hour