Grocers and mass retailers need a competitive edge to stay ahead
Quickly evolving market dynamics, rising consumer expectations and new technologies are driving significant change in the grocery and mass market retail industry. To succeed, grocers need access to the right data and analytics to inform decision-making, and the right tools to design effective customer engagement strategies.
Measure and optimize new business strategies
Margins are tightening and optimizing revenue is critical. To understand store performance and identify new initiatives, retailers need scientifically rigorous and robust analytics tools. With Mastercard’s business experimentation capabilities, you can:
- Launch new aisle strategies
- Understand the ROI on capital expenditures
- Optimize price changes and promotions
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Understand your customers’ spending behaviors
Essential goods form a large part of consumers’ day-to-day spend, making it critical for grocers and mass retailers to understand how the economy impacts spending patterns. Retailers can access Mastercard’s proprietary insights across customer segments, industries and geographies to better understand their markets, build forecasts and inform decision-making.
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Acquire the optimal customers
Attracting new customers is essential for generating revenue and staying competitive. By understanding customers’ spend behavior, affinities and headroom, grocers and retailers can tailor their marketing and promotional strategies to acquire more customers, increase spend and improve ROI.
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Deepen customer engagement and drive brand advocacy
Increased choice has made the retail landscape far more complex and competitive. With nearly limitless options for where to purchase everyday goods, customers want convenience. Grocers that offer seamless cross-channel shopping experiences and easy-to-use, digitally enabled loyalty platforms will outperform the competition.
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D&S capabilities have been used by leading grocery & mass market companies
Coles, a leading grocery chain in Australia, wanted to launch ethnic food aisles in its stores to appeal to a new audience. The grocer planned to roll out the initiative in over 100 stores, but first wanted to understand the potential impact. By using Test & Learn®, Coles scientifically matched and compared remodeled stores to control stores, enabling an accurate read of results. The software helped uncover which stores responded best to the new aisle arrangement. Using these insights, Coles targeted the rollout for maximum ROI, generating $4MM in incremental margin.
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