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.
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Webinar On-demand | Customer First Price & Promotions and COVID-19: Life After the Curve
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 Ted Eichten, Head of Price & Promotion for North America, and John O'Reilly, Head of Customer Development for North America, as they discuss:
- Pricing strategies you can implement now to prepare for possible grocery price volatility and increased customer price sensitivity
- Best practices to ensure promotions and trade funds deliver optimal results, based on customer preferences
- The importance of capturing margin with the least impact to Customers as spending begins to normalize
Webinar On-demand | Customer First Category Management and COVID-19: Life After the Curve
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 Daryl Wehmeyer, Head of Category Management for North America, and John O'Reilly, Head of Customer Development for North America, as they discuss:
- dunnhumby's model of the current and future phases of the Coronavirus pandemic and implications for category management
- Customers' attitudes about shopping during COVID-19
- How Retailers should manage their assortments during and after the Covid recovery to prepare themselves for the new normal
Webinar On Demand with Chain Store Age: How Value Perception Shapes Consumer Retail Preference
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?