Driving Grocery Sales in 2023
One of the most important goals for any grocer is to increase sales. In this article, Tokinomo asked 4 world-renowned retail experts a simple, yet challenging question: How to increase sales in grocery stores?
Discover what grocers can do to delight shoppers and lift sales. How about FMCG brands? How can the manufacturers impact in-store sales?
1. Provide a one-of-a-kind customer experience
Carol Spieckerman calls 2023 “the year of the store” as retailers invest heavily in brick-and-mortar innovation. Grocers in particular are seeking deeper engagement with shoppers through solutions and services that offset the margin constraints inherent in pure-play grocery retail. Spieckerman notes that convenience and choice are synonymous with shoppers. Retailers that attempt to curtail choice risk losing shoppers to competitors that are building arsenals of options to meet customers where they are. Shoppers are expecting much more than products when they go to stores. Customers want a convenient, yet entertaining experience when they enter a store. Try to provide a seamless experience from end to end. For example, offering automated checkout or BOPIS options for your customers. Convenience options such as home delivery and curbside pickup are predominately implemented in grocery, increasing the need to make in-store shopping a compelling proposition.
"My advice to grocery retailers big and small is to focus on customer experience, particularly in stores. It may sound obvious, yet shoppers are frustrated by long lines, the inability to get help, and less-than-efficient automation, particularly automated checkout. Many grocers have invested heavily in digital capabilities and convenience at the expense of engagement and interaction at the store level.
Consequently, shoppers have less incentive to browse, explore, and discover which can compromise sales in higher-margin categories and inhibit new brand and product introductions. 2023 will be the year of the store and grocers would be wise to focus and invest accordingly."
Carol Spieckerman, President of Spieckerman Retail
