Many daily products are becoming more expensive as the inflation bug continues to hit consumers. Discount retailers are boosting prices faster than most other grocery stores. It’s all over the headlines. Nowadays, pushing the cart through shopping isles might feel overwhelming. As the price of the items, they used to routinely check and put into their baskets without giving it a second glance continues to rise, shoppers are finding themselves doing quite a bit of cognitive calculations.
Mark Osborne, Director of Retail Execution, shared some insight on the forthcoming holiday season and, more particularly, how to have a Normal, Traditional Holiday with Inflation concerns. Grocery, automotive, personal care, and prescriptions are all on the rise. Most Consumers want a normal holiday as covid has dampened that tradition in the previous two years.
How do we have a Normal, Traditional Holiday with the challenges of Inflation?
- Purchase lower price items and look at Private label versus Name Brand. Typically, there can be up to 30% savings going this route.
- Look for Discounts and Promotions. Download your favourite Independent Grocers app, clip digital deals and use the Manufacturing Coupons on the app.
- Buy Early and Often
- Cut back on discretionary spending: here are a few to note
- Did you really need that $6 coffee
- Cut back on going out to Eat
- Try the $1 theatre (maybe $3 now) versus your regular theatre.
Retailers dig into shoppers’ data to learn more about the wants and needs of their customers. Customers are looking to you for help. As we raise prices, where can you offer bigger and better deals to drive traffic to your location? Knowledge is essential– do your consumers know to buy extra butter when it is on sale? It can be frozen and used later. Offer great discounts on must-have items in the canned and broth sections and a percentage-off discount on spices. We think about perishables as we get closer to Halloween, Thanksgiving, and Christmas. What are the hot items? Turkey, Rib Roasts, Potatoes, Yams, Cranberries, Fresh Green Beans, Candies, Pumpkin Pie, etc. Start looking at deals with your supplier now and book them. Cross Merchandising is a lost art in the grocery industry today. Cross merchandise those consumables with- oh yea, I need that too.
At the front of the store, Marshmallows with Yams Pies, Potatoes by the meat department, and the list continue. Let’s not forget meal replacement deals. Many consumers are looking for quick-fix items rather than frozen family-size from Stouffers to rotisserie chickens. What’s our cost, and how can we help reduce food costs in this category for our customers?
As more and more customers return to the store, “Customer Experience” is the concluding subject I would like to highlight. How do we treat them, what are we doing to entice them to shop with us, and are we available to help the customer find items, make suggestions and give them a great experience? I have made many comments and suggestions to help Independent Grocery Owners and the customers shopping in their stores. I am hoping this information will be helpful and enable us all to enjoy a wonderful holiday!
In providing the appropriate deals to the relevant customers on time, RSA America effectively exposes information on consumer behavior both inside and outside of the store. Independent grocers can build enduring relationships with customers by employing our digital knacks to engage customers through targeted marketing, shopper data analytics, and digital couponing promotion techniques.
