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
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
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?