Just-in-time shopping creates fragmented trips and new — but surmountable — challenges for retailers.
Quick trips — those "I need it now" grocery excursions — account for two-thirds of shopping visits and slightly more than one-third of grocery expenditures. These just-in-time shopping trips have become the norm. On these journeys, customers are increasingly spreading their spending across more channels and store formats, and retailers are left grappling for share to protect and grow their businesses.
Retailers are wading in and establishing e-commerce strategies.
Retailers recognize that a key factor in the future of this evolution is e-commerce. Though the internet only accounts for single-digit share of sales, the sector is overturning traditional sales models and leaving marketers to reevaluate the way they do everything from store location and format to assortment and delivery.
Despite the complexity of this marketplace, retailers are wading in and establishing e-commerce strategies. This is an iterative but important step, since leveraging knowledge about how customers move in the e-commerce realm is key to establishing a 360-degree perspective of how, where and on what key shoppers are spending.
With this knowledge, retailers can engage high-potential targets where, when and how it matters most to them, thus enhancing customer utilization and moving them up the loyalty ladder.
To maximize customer lifetime value retailers must target everything — product assortment, pricing and messaging — based on their target customers' sensitivities to each element of the program. Getting it right requires an integrated ecosystem of customer-focused big data and analytic know-how that provides granular insights into customer attitudes and shopping behaviors.
Data & Insight
Capturing a 360-degree understanding of spending is essential to maximizing customer lifetime value.
Retailers have significant opportunity to capture increased share of spending across their customer base.
IRI's customer-specific marketing platform offers state-of-the-art capabilities to deepen businesses' understanding of their markets and opportunities.
- Fully integrated end-to-end personalization platform leveraging best-in-class technology
- The largest repository of seamlessly integrated consumer and market data in the world
- Greater depth and granularity for better consumer segments
- 2x better targeting than the leading competitor
- Insights, targeting and activation at the speed of the consumer
- Unparalleled real-time measurement and in-flight optimization
IRI ProScores™ finds the most valuable total-market buyers of categories that retailers cannot see with their loyalty data alone and quantifies the addressable value that retailers can strive to gain.
Traditional Demo Data
- Does not adequately discriminate customers across categories, subcategories, and brands
- Most marketing dollars misplaced: Research finds 64% of ads are shown to households accounting for just 2% of sales
Frequent Shopper Program Data
- No visibility to rest of market
- Lack of national coverage
- Biased due to source of data
- Limited audience scale
- Weekly FSP data for millions of households
- All outlet purchase data from high-quality sources
- Distinct models for all categories, subcategories and brands
- Discrete scores for all 130 million+ U.S. households
IRI ProScores™ increases sales lift by 8x for brands and 5x for categories versus traditional targeting methods.