Households are spending $3000 more on groceries per annum than they were in 2021. Ouch.
People are definitely feeling the pinch and squinting a lot harder at their receipts – so it’s time we scrutinised our retail strategy too. Here are some ideas for enticing shoppers to stick around.
🛒 People are store-hopping for better deals. Catch with value bundles, cross-category suggestions or whole-meal solutions (“everything you need for pizza night!”)
🛒 Curate more everyday cost-saving choices, like bulk foods and refillables, private label brands and frozen staples.
🛒 People are doing bigger shops, less often. Have a look at the data to see what they’re purchasing together and create combo deals or seasonal promotions to reward stocking up.
Increase value perception. Tell the story of why certain products are special, whether that’s provenance, seasonality, flavour or exclusivity (“spray-free strawberries fresh from Bob’s farm less than 20km away”).
🛒 Be quick on your toes with promos. Rather than duke it out with the giants on price, how about offering loyalty programs or seasonal specials unique to your region?
🛒 Play up relationships and personalisation. Staff recommendations and shelf talkers are powerful, as are free tastings, and building trust over time through outstanding service.
🛒 Affirm savvy shoppers by sharing the numbers, such as “price per use” tags to communicate just how far a certain product will stretch.
👉 Over to you. How are you adapting to shoppers’ changing needs in these times?