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Traditional Grocers See Need to Differentiate to Fend Off Retail Foes: Annual Report

As they face increased competition from such contenders as a certain online behemoth and two well-publicized deep discounters of German origin that are expanding their respective reaches in the United States, with more locations offering a typical combination of bargain prices and signature private label items, traditional grocers’ need to differentiate becomes more crucial than ever in the quest to attract — and keep — customers.

The Future of Grocery Loyalty Programs

Gone are the days of inky newspaper circulars dominating the couponing landscape in the grocery industry. Today’s shopper is much more tech-savvy, and they look to many different sources for deals when grocery shopping. As competition between grocery retailers becomes fiercer, grocers are finding it more imperative than ever to entice shoppers with coupons and loyalty programs. We live in the information age, and the data compiled through loyalty program registration is worth the cost of offering shoppers incentives. The top grocery stores utilizing 21st century loyalty programs understand the value and the best practices involved in doing so.

Why Grocers Can Use a Marketing Measurement Facelift

Industry-wide changes are making growth in the grocery sector more difficult. From price wars and aggressive new competition to increasingly demanding omnichannel consumers, grocers have many new challenges to master. For many, this means adjusting the way they engage with consumers to ensure that they’re attracting new customers while making sure their best customers keep coming back for more.

How to Reduce Shrink

Grocers know that shrink, or the difference between projected and actual profits, is one of the largest sources of loss. Many might think that theft is the largest source of inconsistencies between the dollar value of inventory and the actual resulting profit, but according to research conducted by FMI and the Retail Control Group, only 36 percent of grocery store shrink can be attributed to theft, while 64 percent is the result of inadequate store operations and procedures. With the right strategic organizational measures, grocers can avoid being their own worst enemy and falling victim to inventory shrink.

Retailers Need to Use Tech to Work Smarter, Not Harder

Every week it seems that another major retailer resorts to bankruptcy protection to address its liquidity challenges.
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