The retail sector remains a fiercely competitive, low margin sector. Retail executives are therefore very focused on making the right investments to drive growth. Over the last couple of years, there has been an increased discussion on customer experience providing a competitive differentiator. This study establishes the financial impact of customer centricity on retail performance, and creates a framework for determining what elements of customer interaction drive the greatest return. The…
The retail sector remains a fiercely competitive, low margin sector. Retail executives are therefore very focused on making the right investments to drive growth. Over the last couple of years, there has been an increased discussion on customer experience providing a competitive differentiator. This study establishes the financial impact of customer centricity on retail performance, and creates a framework for determining what elements of customer interaction drive the greatest return. The research reveals that leaders on the dunnhumby Customer Centricity Index (CCI) enjoyed market share growth of seven percent on average, while laggards suffered a one percent decline
With the recent rise in popularity of discount grocery chains and wholesale clubs across the globe, does all evidence point to a clear customer preference for low-priced retailers?
The need to budget and get value for money is hardly a new concept. However the shift in the global economy and availability of information driven by technology are having a profound impact on consumer spending, leading to a revaluation of what value means in consumers’ eyes. This paper looks at the challenges and opportunities the New Value trend presents to Retailers and CPGs.
This report introduces our ‘2020 consumer trends’ — the nine consumer-centric trends that will shape the future of retail and CPG in the years to come, on a global scale. These are the trends we believe retailers & CPG companies simply cannot, and should not, ignore
Consumers are making significant changes in the way they shop for groceries across online and in-store channels and this has important implications for brands and retailers. In the grocery retail category, many brands now see one-fifth to almost half of their sales from online purchases. Growth is expected in all aspects of the market.
Customers are looking for faster and easier ways to buy and prepare their meals and this is causing important changes in where they shop, what they buy and how often they make their shopping trips. Many retailers and CPG marketers view this as predominantly a trend to smaller convenience store formats, but this misses many of the fundamental dimensions of this behavioral shift. By understanding the customer’s desire for convenience across the entire shopping experience, marketers can gain a…
Customers are looking for faster and easier ways to buy and prepare their meals and this is causing important changes in where they shop, what they buy and how often they make their shopping trips. Many retailers and CPG marketers view this as predominantly a trend to smaller convenience store formats, but this misses many of the fundamental dimensions of this behavioral shift. By understanding the customer’s desire for convenience across the entire shopping experience, marketers can gain a much richer picture of this important trend so they can provide the products, services and experiences that meet their needs.
