people collaborating about smarter retail investments

Grocery retailers can employ a countless number of tactics to compete in today's dynamic market. The issue is not the ability to do many different things at once, which retailers are often good at, but resources are finite. It's important to determine the right strategies to prioritize investments and which tactics they should stop entirely.

Many organizations, not just in retail, struggle to focus resources and attention on the areas that are most important to the health of the business. This often results in organizations chasing too many priorities, with few areas receiving the attention required to make meaningful improvements. Retailers that cannot markedly improve the business in areas that drive value perceptions and visits will find it difficult to navigate an increasingly fragmented and competitive market. The issue is further exacerbated by thin profit margins and scarce resources that require an even more thoughtful and strategic allocation of resources.

At the root of the problem is the inability to systematically assess and diagnose key issues across the business. Without the right data, systems, and processes, coupled with silos and day-to-day demands, diagnosing key macro issues is quite difficult. As a result, few organizations spend the resources or time needed to carefully align their strengths and weaknesses with the demands of Customers, competitors, and technology.

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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."

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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.

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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?