During my many years as a supermarket retailer I saw my share of panic buying related to natural disasters like blizzards and hurricanes. Like many, I lived through the 9/11 crisis and its impact. But I have never experienced anything like what we are currently going through.
I’ve talked with many people across the supply chain these past few days, from brand manufacturers to distributors to retailers. I have been in our local stores seeking supplies but also watching how retailers are responding to a never-before environment.
While healthcare workers are always thought of as the front lines in a pandemic like we are experiencing, it is just as true that the workers in supermarkets and drug stores are equally on the front lines. The commitment by people across the massive grocery industry to serve the people in their communities during this crisis is to be commended. They don’t have to be there - they can stay home like many others, taking care of their families, and self-quarantining. But these store workers are unselfishly putting themselves on the front line of the coronavirus battle, realizing that feeding and providing needed supplies for their communities is as important as the doctors and nurses caring for the ill.
When the current crisis abates - and it will - I believe the retail industry can step back to realize what it has accomplished….
According to the latest Brick Meets Click research that included 27 supermarket banners, independent grocers that offer products both in-store and online reported online basket sizes averaging $110, and average weekly online store sales of $9,964. The four of My Cloud Grocer’s clients that participated in the research reported online basket sizes averaging $215, and average weekly online store sales of $49,248.
These 10 secrets have enabled our clients to achieve such outstanding results….
In a previous post, I discussed the impacts of higher labor costs in retail. This post will explore how retailers can address this significant challenge with the latest generation of workforce manag
ement (WFM) tools that leverage expanded use of artificial intelligence (AI), real-time data exchange and more robust enterprise computing platforms. These enhancements offer retailers an inventory of new opportunities for early adopters.
Grocers are leaning more heavily on technology to engage shoppers and attract new business. When it comes to digital technology, it can be overwhelming, and finding the key to long-term success can seem elusive.
Anything worth doing is worth doing right. When it comes to choosing the right technology platform for customer engagement, there are…
Solution providers spend the early years of their existence immensely focused on building their product(s). The vast majority of resources are allocated to programmers, engineers, product development people, etc. This is as it should be for without a solid product little else is possible. And yet as a company aspires to grow there comes a point where, as a percentage of total resources, a proportionately larger share must be allocated to sales and marketing. This transition point is a vital prerequisite to growth and yet many solution providers miss this timing and, in so doing, miss windows of opportunity – sometimes for years on end.
Some guidance…
The CART Innovation Program is coming to Kraft Heinz, the fifth largest food & beverage company in the world! Kraft Heinz is seeking new innovative capabilities to help bring their brands to life. Interest is focused on digital media, shopper marketing, eCommerce, CRM, and consumer insights. Relevant solution providers will offer differentiated capabilities, fast scale, first-mover advantage to Kraft Heinz…
In food service retail, the adage “convenience is king” still rings true. What has changed is the understanding of — and associated expectations for — what it means to be convenient. Gone are the days of location being the primary factor in whether a food service retailer is a convenient place to shop. On-demand culture, gig economy vendors, and rapidly-evolving technology have vastly impacted consumer expectations for their retail experiences.
True convenience means getting exactly what you want instantly. It means…
Through CART, we talk with and get to know a lot of solution providers, companies seeking to sell some new innovative technology or capability to retailers. It is concerning how few solution providers take the time to do some basic research on their retail prospects, walking into a sales meeting very unprepared.
The first step in selling is to determine what size or type retailer you want to approach first. In the supermarket industry you can think in terms of independent retailers (smaller, privately owned, typically with fewer than 10 stores), regional retailers (est. 10-250 stores), and then larger regiona/national retailers (companies like Ahold, Kroger, Walmart, etc.).
Once you’ve decided on your target, generate some specific retailers you want to approach; maybe retailers in your area or a retailer you have some connection to. Next do a basic Google search to find out more about the retailer. How many stores do they have? What are their annual sales? How many employees? Where are their stores located? Who are their competitors? Search for any recent news articles about them. Identify who the key executives are, especially those you think will be decision makers or influencers relative to whatever solution you’re going to bring to them.
If you get a meeting, visit some of their stores before you meet. This should be a standard operating practice for anyone selling into retail, especially grocery retail. Walk the store, noticing any and all details that may involve whatever solution you’re seeking to sell them. Get a sense for the retailer as an operator and for their customers. When you go into your meeting, share that you were in the retailer’s store - any retailer of any size will appreciate you’ve taken time to learn about them and visit their store operations.
Finally, relate what your solution is to what problem you are solving for the retailer or what opportunity you’re able to help the retailer realize.
BRINGING A DEDICATED TRADE-SHOW TO THE RETAILERS' HEADQUARTERS; WE CONNECT SOLUTION PROVIDERS IN A POWERFUL ENGAGEMENT WITH KEY DECISION-MAKERS.
The CART Innovation Program™ is a powerful way for solution providers with transformative, disruptive new capabilities to gain an audience with the senior executive team of large regional and national retailers. Without a program like this, gaining such an audience - especially for young companies - is nearly impossible.
