The 2013 RIS News/IDC Retail Insights Supermarket Benchmark Study reveals that US grocers are increasingly executing on a vision to provide shoppers with a common experience across channels. Half of the retailers surveyed already have an online order/pick up in-store capability.
According to IDC Retail Insights data, a significant number of big data pilots are under way as grocers seek to improve how effectively they can drive business improvement by crunching more data faster.
Leveraging data for replenishment processes and optimizing assortment and space more effectively were among the highest scored benefits of analytics programs, with associated outcomes that include increased basket size and increasing overall traffic.
The study, conduced in June, also reveals the omnichannel strategies that are increasingly being embraced by grocers, with 80% offering online order/in-store pick up in the next 12 months. 50% of grocers surveyed already have online order/pick up in-store capabilities, whilst almost a third will deploy it within the next year. In addition, 63% of retailers said they had an eCommerce capability, or planned to invest in one in the next 18 months.
eMarketer projected in April that US ecommerce retail sales of food and beverage products, of which groceries are a part, would grow from $5.8 billion this year to $11 billion in 2017.
eMarketer projects that US eCommerce retail sales of food and beverage products will grow from $5.8 billion this year to $11 billion in 2017. As more shoppers choose to go online for their grocery shopping, supermarkets will need to ensure they are competitive on price to attract today’s price sensitive consumer. Therefore understanding how they benchmark on price in order to deliver the greatest value to shoppers will be increasingly key for grocers.
Find out how three of the top five UK supermarkets with an eCommerce presence are working with Profitero to attract shoppers and drive sales. Contact us at firstname.lastname@example.org or visit www.profitero.com.
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Profitero is the leading global provider of online competitor pricing data. We provide both bricks & mortar and online retailers with their competitors’ prices, promotions and full product assortment information. Profitero’s accurate and timely competitor intelligence enables our customers to make better informed and more profitable pricing decisions, helping them to increase sales as well as margins.