Have you seen The Customer-Focused Marketing Playbook?

This comprehensive and practical guide to the latest ideas in customer-focused marketing hands you over 200 packed pages of strategy, best practices, do's and don'ts, practical know-how, facts and figures, and ideas to optimise your marketing strategy, boost sales, market share, increase ROI and profit.

Get it on Amazon (Kindle/Print)

Grocery retailers lack expertise to monetise their data

And they lack the technology to drive better experiences

Despite the apparent barriers, the majority (85%) of global grocery retailers view growing revenues as their top priority in 2020, and plan to do so by improving their use of data insights to develop customer strategies (84%) and to make business decisions (82%).

"The global grocery market is in a fight for survival against pure play and other non-traditional competitors, who are further squeezing razor-thin margins," said David Clements, Global Retail Director at dunnhumby. "We commissioned this study to better understand why so many retailers aren't taking advantage of new revenue streams, while improving the shopping experience for their customers. We believe the study findings highlight the growing importance of the role of customer data in attaining sustainable growth."

Key findings from the study included:

• Just 15% of global grocery retailers are Leaders, differentiated by data-led customer strategies for growth and improved supplier relationships, while the majority are lagging behind. Forrester uncovered three levels of maturity in grocery retail: leaders (15%), intermediate (55%) and novice (30%). Leaders set themselves apart by showing improved CPG supplier collaboration with 1) sharing customer data insights, 2) providing insights and measurement solutions to support media planning, and 3) negotiating retail media placements as part of their annual trade agreements. Regionally, retailers in the United States, Brazil, Italy, United Kingdom, and Thailand standout as early leaders in developing customer strategies that drive revenue growth.
• 96% experience challenges trying to use data to develop customer strategies to drive growth. Retailers are facing several obstacles including an inability to harmonize data and derive insights across channels (36%), an inability to develop a holistic view of customers (31%) and a lack of necessary technology and skills (31%).
• Most grocers are not capitalizing on the revenue potential of customer data and instore/online media channels. While 53% of respondents use customer data, such as from loyalty programs, to make decisions about customers, less than half use other sources, such as social media (49%), point-of-sale (49%), mobile app (46%), promotions data (46%), customer location (43%) and web metric/clickstream data (43%).
• The majority of grocers leave money on the table by not monetizing media assets. Only 42% of grocers are currently selling branding opportunities on their website and only 37% offer media placements in-store and on their print media. Only 31% of grocers are selling branding opportunities on their mobile apps except for Brazil (49%), China (47%), and Spain (38%) where apps are used more frequently.
• 96% of grocers which offer media opportunities for CPG suppliers on their apps saw an increase in revenue over the last months, with 40% seeing an increase of more than 10%. In addition, 92% of firms offering ads and branding opportunities on their websites saw an increase in revenue from this channel.

"Time is of the essence for grocery retailers to activate the data they already have to improve the customer experience and create new revenue streams that can support their businesses into the future," said Clements. "There is a significant amount of untapped revenue in grocery. Those that unlock the potential of their data and media assets, and improved supplier collaboration, will thrive. Retailers that fail to adapt will fall behind in the increasingly competitive marketplace."

The full study has been made available for download at: https://www.dunnhumby.com

Have you seen The Customer-Focused Marketing Playbook?

This comprehensive and practical guide to the latest ideas in customer-focused marketing hands you over 200 packed pages of strategy, best practices, do's and don'ts, practical know-how, facts and figures, and ideas to optimise your marketing strategy, boost sales, market share, increase ROI and profit.

Learn the insider's tricks and techniques to turn every customers into a 'super spreader' for your brand. It's better than free advertising. Once you start this ball rolling, your brand can grow rapidly through word-of-mouth, advocacy, influencers, and customer loyalty. Super-charge your company's marketing strategy, build up your market share, and make more sales through repeat business and customer loyalty.

Find out what works - and what doesn't - and who's succeeded, and how they did it. See how the world's top brands keep their competitive edge against all odds.

The Customer-Focused Marketing Playbook walks you step-by-step through the techniques, metrics, reporting, analysis, marketing models, technologies, tools and innovations for successful marketing strategies - both traditional and emerging - with expert guidance from thought leaders in every major market. Find out the best ways to gather, analyse, and act on customer data to increase profitability, build your brand, empower your customers, beat the competition, reduce churn, and increase customer profitability. This is a marketing book you simply can't afford to be without.

This book aims to hand you all the facts, figures and research data you need for the best decisions for a more profitable, more engaging marketing strategy. It also highlights all the facts, forecasts and trends identified by our experts from the global Marketing Factbook's vast database of market data, news, studies, research and articles, and presents you with an invaluable library of ideas and practical support you can call upon at will.

With The Customer-Focused Marketing Playbook at your side, you'll have instant access to a true goldmine of easily adaptable and up-to-date strategies, walk-throughs, trends, research and market data, plus all the supporting arguments you need to build a solid, profitable marketing strategy.

Get it on Amazon (Kindle/Print)