Progressive Grocer

DEC 2016

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Page 86 of 135

December 2016 | | 87 grocers can customize marketing activities, pricing, product assortments and customer service in order to build consumer loyalty and increase revenue." She adds that one available source of Big Data — mature loyalty programs — provides grocers with a wealth of customer insight that can be used to identify product segments, silo shoppers and define product affinities. By combining these data with other sources of information — nutritional trends, preferred method of receiving promotions, weather- related events and customer traffic patterns — grocers can focus on improving the overall shopping experience and drive revenue, ac- cording to Kolev. Segmenting Shoppers "With Big Data, grocers can understand which items to sell at which prices to which shopper segments that will drive loyalty of trips and stimulate incremental demand," notes Brian Elliott, CEO of Periscope by McKinsey, a global consultancy. "is insight into consumer behavior impacts pricing, promotions, assortments, personalization and even vendor negotiations."

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