The Psychology Behind Impulse Purchases & The Why We Buy We’ve all experienced an impulse purchase. That feeling of reaching for a new product not because you need it but because at 50% off it’s too good of a deal to pass up. These purchases, which grocers rely heavily on seem to surpass your cognitive thinking (good bye budget) and
Competition Between Grocers Equals Savings at the Pumps Competition between grocers is fierce; they look for any area of competitive edge to get more consumers into their stores. Have you ever notice those every day low prices for eggs or that unbelievable sales price for steaks over Memorial Day? They’re practically giving them away! But what about those bright illuminating
You’ve Invested in a Price Optimization Solution Now It’s Time to Select the Data Provider Finally, retail grocers have the pricing optimization software they need to increase margins and gain a shoppers trust. So what’s the hold-up? The Technology Has Evolved, So Should the Data Pricing optimization software companies like Revionics, dunnhumby, and PROS let retail grocers leverage predictive analytics to make price changes
Whole Foods Adds 10% & Other Amazon Discounts But Is It Enough? With a push to convert Whole Foods Shoppers to Prime Members, Amazon introduces a unique competitive pricing strategy that offers a variety of discounts exclusively for Prime members. The biggest advantages are the additional 10% off sale items and weekly Prime member deals on select best-selling items. For
How Natural Language Processing is Transforming Digital Grocery “What items in your organic food section are all sale this week?” “Where can I find the tahini?” “Which aisle are the vitamins in?” These are the kinds of questions shoppers ask a thousand times a day. Sometimes they have a box boy to help them. Other times they can wander for
Is it time Grocers Started Accepting Cryptocurrency? Currently, there are over 1,384 cryptocurrencies available for simplicity in this post we’re going to focus on the most popular cryptocurrency, Bitcoin. Back in the 1990s, when the internet was just getting revved up, a lot of retailers waited to get their websites. They thought maybe the internet was a fad or something
The Strategic Approach to Creating Competitive Price Zones Expanding into a new market is a formidable challenge for any retailer. It requires a thoroughly planned-out strategy beginning with understanding your new customer demographics, market shift trends, and the competitive landscape. And success in one city or neighborhood doesn’t necessarily promise success in another one with a different customer base. In
Retailers — It’s Time to Get Creative With Loss Leaders Loss leaders have been the bread-and-butter (so to speak) of grocery retail marketing. But frequently the items that make the loss leader list are standard mundane staples: eggs, milk, chicken breasts…. The idea is to get people coming back over and over for bargains on the food they buy most.
The Psychology Behind Why We Love Physical Subscriptions There’s something exciting about getting a subscription product (Dollar Shave Club, Stitch Fix, Milk). Yeah, it might just be your vitamins or protein shake mix, your monthly coffee selection or the vegetables you signed up to get. But it’s still exciting. It’s like getting a present, even though it’s not a present.
How Retailers Are Adjusting To The Sugar Drink Tax A new year means new local regulations for retailers and CPG manufacturers to follow. From cities banning plastic water bottles to implementing a single-use bag ordinance, it’s up to the companies to ensure they follow the new regulations. One trend that is starting to gain national attention is the “Sugar Drink