It’s not just fast moving consumer goods (FMCG) brands that are playing catch up in the omnichannel world, but grocery retailers and supermarkets have a lot of catching up to do too.
Omnichannel – Sink or Swim
It can feel like trying to turn around a huge ship to make changes for these stores, but if they want to survive and thrive, they are going to have to. While ‘digital’ offers unique opportunities to connect to consumers, it doesn’t take away the real human experience of brick-and-mortar shopping when it comes to grocery retailers.
As Amazon opens another physical Go Fresh store (and guess what? Amazon know exactly what people want to buy and what their wants and needs are due to their non-silo’d data and ecosystem), this puts added pressure on the traditional grocery retailers and supermarkets from both brands and consumers. Both of which are using the likes of Amazon more and more.
Time to Get Planning
If you are a grocery retailer or supermarket what’s your plan? The latest stats already highlight that retailers are worried that sales are falling, with many playing the price war. Ensuring that every experience and touch point across channels is consistent and delivers on your brand promise is vital, it’s shouldn’t all be about price.
Grocery Retailer & Supermarket Tips
So, how can you turn this around and keep up with the likes of Amazon? Here’s our top tips for grocery retailers and supermarkets: –
- Be agile, ready to change and ask the right questions.
- Get your data in order.
- Upskill your whole team for digital transformation, the way customers think, decide and buy has changed.
- Get your brand hat off from over your eyes and really get those consumer shoes on.
- Watch the likes of Amazon, etc like a hawk and always ask yourself ‘Why?’.
How Advanced Analytics Can Help
Using advanced analytics including artificial intelligence, offers a big opportunity for the retail industry. Check out this article Grocers can fuel growth with advanced analytics by McKinsey & Company.