3 Ways Independent Grocers Can Win the Grocery Wars
As the pandemic seemingly winds down, grocery stores need to reevaluate their pre-Covid strategies. In 2019, experts predicted two grocery technology areas where stores will need to focus for success. The first was embracing technology more fully to leverage emerging technology for greater store efficiencies. The second area was building and sustaining customer experiences that outshine those offered by the exponential rise of nontraditional grocers, such as Amazon, Target, Costco, Walmart, Dollar General, and others. In 2021, both of these challenges are still here, but the good news is that technology that levels the field is more accessible than ever, and customers are increasingly looking for innovation. Grocery stores can stand apart from the growing crowd by expanding their focus to data, personalization, and omnichannel shopping experiences.
Use Data to Boost Profit Margins
With connected devices and digitization, our world is filled with data. There so much data that some industries cannot even process it all efficiently. On the other hand, retailers can have access to specific shopper behavior data, and today's smart retail solutions make it easier. Analytics provides value in every aspect of the grocery business, from tracking inventory to optimizing pricing.
Personalize Shopping Experience
Data can also help target promotions and deliver ongoing value to your shoppers. Larger retailers have used data to master customer experience through custom offers, relevant information like recipes, and loyalty programs that get noticed and used. Today, the technology that is the foundation of personalized shopping is easier to implement in smaller stores that may lack in-house technology departments.
Deliver Consistent Omnichannel Shopping
Now that the pandemic is almost in our rearview mirror, independent grocers have an opportunity to meet customers exactly where they want to shop. Shoppers may return to the old "normal" of primarily shopping in person, but 2020 showed some customers that shopping online for delivery or curbside pickup is convenient and time-saving. Success in 2021 and beyond means embracing both in-store and online, making both seamless and consistent, and having the flexibility to adapt to whatever the next innovation in retail may be.
Smart retail solutions are the key to successfully adopting today's changes and being ready to implement the changes that will be required tomorrow. STCR helps grocery stores of all sizes find the right technology to harness data, personalize shopping, and build the grocery store of the future, today. Learn more about how STCR leads the way in retail technology.