In a recent study by Progressive Grocer, Target.com ranked highest among grocery retailers as the most trafficked website for retailer coupons. The playing field was remarkably skewed in Target’s favor, given the scale of Target’s ecommerce and digital marketing efforts. Comparing Target web traffic to even the largest grocers, like Safeway and Kroger, isn’t fair, since grocery retailers are notorious for low web traffic (mostly because they don’t sell online – one of the more compelling reasons to go to a retailer’s website). Regardless of comps, Target does offer consumers a remarkable set of options to save money with coupons. Check out the accolades and stats here.
Archive for Retail
The CEO of Ahold, a major international grocery store retailers, had a very informative interview with McKinsey. Dick Boer, CEO of Ahold, talks about how grocery retail needs to evolve with the current needs of shoppers. Ahold is an international portfolio of grocery retail banners that have a very local community presence. Operating such a retail model is challenging, especially when more and more packaged goods can be purchased by consumers online and elsewhere. The interesting strategic focus is on fresh foods, leveraging the grocer’s key strength with perishable goods. It’s hard to get right but represents clear opportunity for grocers. Check out the full interview for more details.
Retail has been changing for a while. Once upon a time, retailers specialized in certain types of merchandise with little cross-over between retailers. Unfortunately, assortment uniqueness is a thing of the past. Amazon has over 1 million products for sale online. No brick & mortar retailer can compete with that. With price and assortment advantages conceded to Amazon.com, other retailers need to compete on other levels. Check out this article for some interesting guidance for retailers who want to evolve in today’s competitive retailer environment.
A great article from Retail Customer Experience on where retailers are most likely to succeed first in the fight for the omni-channel customer experience. It seems like retailers are great at figuring out product, price and inventory. However, this has been optimized by channel, not across channels. Customers are more and more thinking across channels and devices (buying where/when/how they want), but retailers are ill-equipped to engage this type of customer until they figure out how to integrate their core systems to deliver a seamless customer experience regardless of device, in-store or online. Tons of investment needs to be made in both technology, organization restructurings and marketing efforts to deliver a customer-centric experience.