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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Post-Covid-19 impact: Customer-First collaboration between Retailers and CPGs in a new reality
The events of the past six months have had huge repercussions for grocery retail.
But despite reporting record revenues, many retailers are struggling to convert sales into profits. With higher running costs, changes in Customer behaviour, stock shortages, social distancing, and growing price sensitivity, there is little doubt that this will continue for some time to come.
There's never been more value in being able to track how Customers are influenced by the changes going on around them and respond to future trends before they even materialise. Doing this effectively, however, requires Retailers and CPGs to come together, pool their insights, and work out how best to meet those future Customer needs.
In this webinar, we'll explore how to overcome the barriers that are holding many Retailers and CPGs back, what needs to change, and how both parties can benefit from Customer-First Insight Activation.
Join experts from dunnhumby as we:
- Explore how to launch a new data and media insight activation during these uncertain times
- Learn how companies around the world have recently done so successfully
- Demonstrate how it can be done effectively while teams work remotely
- Show the importance of design consultancy ahead of execution
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
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
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?