Lauren Hobart

Great article by Siro! If you are in retail and have interest in private brands, this is a fabulous summary of recommendations for how to innovate and drive engagement with shoppers. #dunnhumby

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At Flywheel Sourcing, we know that understanding how younger generations navigate the shopping experience and spend their money is essential to developing products that are relevant to new generations of buyers. Consumer needs and values differ across generations, and their purchases reflect that. Connecting with younger generations of shoppers will require different strategies than reaching their parents did. Product development for consumers under 40 requires a new set of considerations. In our most recent blog, we’ll explore what’s important to today’s young shoppers and what to consider when developing products geared toward this demographic. Product Development for Consumers Under 40: What’s Important to Younger Shoppers? — Flywheel https://bit.ly/3JjSgVw

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A quick read that hits some key elements of effective loyalty programs.... Ultimately, the business goal of driving incremental trips profitably, requires a level of personalized and relevant messaging that deepens customers' affinity with the offering. Many try, but only few loyalty programs get it right, finding a true collaboration across ... 1.Data science teams (e.g., MLops, CRM, customer analytics, etc.), 2.Business acumen teams (e.g., merchant promo/offers, fp&a/mp&a, etc.), and, 3.Customer engagement teams (e.g., branding/creative, marketing channel, etc.).

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Hello Retail Friends, I am pleased to announce the release of our latest Pricing and Promotions research report, developed with Incisiv. This report, surveying 179 retail executives across the US and EMEA, will be presented at Groceryshop in Las Vegas this week - be sure to come see us at booth #A610 to learn more.    Key findings include:   🔹 93% of shoppers demand more value: With 84% citing price as critical, 87% of retailers have adopted aggressive discounting strategies to sustain sales and loyalty.   🔹 $1 trillion in sales driven by promotions in 2023: Amid economic uncertainty, promotions are essential. 87% of retailers plan to maintain or increase promotional efforts in 2024.   🔹 Low adoption of advanced analytics: Only 12% of retailers use real-time data, advanced algorithms, and AI, impacting their agility.   🔹 Critical challenges in data quality and integration: Effective promotional strategies require accurate, unified data, yet cultural resistance also hinders progress.   🔹 Reliance on outdated systems: 37% of retailers still use spreadsheets, lacking the agility needed for dynamic market conditions.   The report highlights the need for integrated pricing and promotional capabilities. By leveraging advanced technology, retailers could achieve an additional $450 billion in incremental sales.   I encourage industry leaders to explore this report for strategic insights to drive growth and innovation.   #RetailLeadership #PricingStrategy #Promotions #MarketResearch #RetailInnovation #Groceryshop #GroceryForum #RELEXSolutions   https://lnkd.in/eSjYKxqC

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