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Are Personalized Offers the Remedy
For Ineffective Trade Promotions?
Trade promotions have been a mainstay of the CPG and retail landscape for a number of years, but satisfaction has been decreasing. Manufacturers and retailers have been increasingly concerned about the effectiveness of trade promotions at the same time as trade spend budgets have been creeping up. Shoppers, especially younger shoppers, are showing a greater appetite for personalized offers that are delivered digitally. So are personalized offers the remedy for ineffective trade promotions?
Click on the screen below to view this presentation by Graeme McVie of Precima:
A new study from The Food Marketing Institute (FMI) and Nielsen predicts that within the next 10 years, online food shopping is set to reach digital maturity in the US – fundamentally changing how groceries are bought and sold.
One fifth of all US grocery spending (valued at $100 billion) is expected to come from the online channel by 2025. That is the equivalent of 3,900 grocery stores based on store volume. And as online grocery continues to evolve, nearly three-quarters of all US shoppers are projected to conduct 25 percent of their grocery shopping online within the next decade.
A growing consensus among leading CPG firms is that online is a channel that can’t be ignored. However, fundamental challenges remain...