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The Chief Marketer's job in 2015 is nothing like what it was even a year ago. Modern CMOs are faced with scores of new challenges: customer acquisition and retention online, growing sales with even tighter budgets, shrinking margins, a maze of digital and mobile opportunities. Nonetheless, the outlook is optimistic, according to the CMO Survey conducted in February 2015.
Join us for a cross-industry CMO State of the Union breakfast as our expert panel of marketing leaders discuss:
- The marketing budget: the marketing mix
- How is technology enabling or disabling the organization?
- Where are your experts: in-house or external?
- What is the role of outsourcing and offshoring?
- The CMO scorecard
- Talent: then and now
Visit the Normandie Lounge during CRMC and meet LoyaltyOne Consulting. Strategically creating sustainable and valuable customer relationships, our consultants provide customized services to elevate loyalty strategies for retailers. Our highly disciplined approach to program development includes:
- Loyalty Strategy and design
- Customer experience
- Loyalty strategy and program diagnostic
Discover how we can help optimize your loyalty portfolio here
Forward-thinking grocers internationally are harnessing the power of data to create customer experiences and profitable growth. With a holistic and consistent use of data across an organization, grocers such as JUMBO Supermarkten have proven that even with well over 500 locations and no loyalty card, you can truly build your business around your customer, with the lowest price, great customer service and the best product selection around.
Join experts from Precima and JUMBO Supermarkten, the Netherlands’ second largest grocery retailer, to:
- Hear what customers actually want from their preferred grocer with original research and case studies from around the globe
- “It shouldn’t be possible. And that’s why it’s Jumbo 100%.” Discover how JUMBO Supermarkten satisfies the broadest set of value propositions for its customers – their famous 7 Certainties including the lowest price guarantee – and continues to earn multi-billion Euros annually
- Learn how marrying data with price, promotion and assortment management and optimization can bring your organization in the future now
As retailers gear up for the peak “buy local” season, a recent survey reveals that six in ten (61%) Canadians say purchasing local food and beverages is important to them, and nearly half are willing to pay a 15-30% premium for them. Furthermore, among these shoppers, 87% report they would increase their monthly grocery spend if local alternatives were more readily available.
When asked what prevents them from buying more local goods, higher price, surprisingly ranked as the lowest obstacle at 23%. This compares with 60% who say the largest impediment is the fact that large chain retailers are not stocking a wide enough selection of local goods. Other top barriers to buying local include homegrown foods not being properly promoted in-store (39%), and therefore difficult to locate, and confusion over identifying local products by their packaging (36%).
"Local products are a driving factor among many shoppers across the country. Not only do these products represent an opportunity to grow basket size, they appeal to a potentially large shopper segment that is already in your store and willing to pay a premium. It's incumbent on the retailer to use data to understand what drives this segment. Retailers should structure their pricing to align with the value that consumers place on local products and make certain it's easy for shoppers to identify what is local when shopping," says Graeme McVie, General Manager and Vice President of Business Development for Precima, the data analytics arm of LoyaltyOne.
Of note, the survey revealed that 72% of those who purchase local products gave supporting their local economy/business as the primary reason.
When asked to rank the importance of purchasing locally sourced products, fruit and vegetables top the list with 98% of local shoppers saying it is very to somewhat important that they are produced and/or sourced locally, closely followed by meat, 90%. Beer and wine ranked 38% and 35% on the importance scale, respectively. A correlation was also found when it comes to the premium these shoppers are willing to pay.
When it comes to local product selection and promotion, 91% who value local say farmers markets rank number one, followed closely by independent grocery stores at 71%. Whereas, less than half of those who value local products (46%), say big chain grocery stores are doing a good job at stocking and promoting these products.
“We've known for some time that local is an important movement economically and socially. Getting local right is not just a nice to do, it’s vital for retailers looking to drive incremental margin and loyalty; this is true for many retailers, especially large-chain grocery stores who stand to make the most by closing the gap. Sourcing local is only the beginning of the puzzle, it's how you present the value that is going to make the real difference to the local economy, to your shopper and to your bottom line," adds McVie.
LoyaltyOne conducted an online survey of 1,646 Canadians in May 2015. Survey respondents were at least 18 years of age and had primary or shared responsibility for the grocery shopping in their household. The margin of error is +/- 2.42.
CINCINNATI (May 5, 2015) -- The results of a nationwide LoyaltyOne survey show that U.S. grocery shoppers have a resounding message for grocery retailers who have been enticing them with fuel rewards for over a decade.
Fuel rewards alone aren’t winning their loyalty. Grocery discounts are the new value driver.
In a March 2015 survey of 1,000 U.S. consumers, 72% said they’d prefer that grocers offer discounts in the aisle instead of at the pump.
The preference is strongest in the densely populated Northeast, where 81% said they’d opt for grocery discounts over gas savings. It’s weakest but still noteworthy, in the West, where 65% favored grocery discounts.
Among the biggest spenders, those who budget $700 a month on groceries, no less than eight out of ten (83%) expressed a preference for grocery discounts versus gas rewards. Similarly, the majority of shoppers (74%) spending $300 to $500 a month, said they prefer grocery discounts to gas savings.
Age-wise, older millennials are leading the charge for grocery discounts over gas rewards. Among shoppers 25-35 years old, 76% said they prefer grocery, rather than gas rewards. That’s five percentage points higher than any other age group in a range spanning from 18 years old to over-65.
“Too many grocers have become complacent with a one-offer-fits-all mentality about loyalty. Not only is a generic fuel offer not relevant to all customers, it equates to untargeted marketing spending undermining ROI,” LoyaltyOne Consulting Managing Partner Dennis Armbruster said.
“Fuel reward programs still have relevance and value, but our research and client engagements confirm they're also not a cure-all for building loyalty. Progressive grocers need to heed the signs. Few can afford to not leverage shopper data and explore alternatives or additions to their fuel programs to engage more customer segments, improve their marketing response and derive significant returns,” Armbruster said.
LoyaltyOne Consulting helps leading companies create differentiated loyalty programs and services that drive sales, ROI and maximize customer value. The organization also identifies high-risk gaps in the customer experience and value proposition, which according to this research is reliance on fuel alone.
LoyaltyOne Managing Partner Dennis Armbruster is available to provide expert insights on the research results and discuss how grocers can enhance their current loyalty program or platform to better meet their customers’ needs.
Other key findings from the survey:
- 62% of respondents said they’d switch to grocery rewards if a grocer offering gas rewards gave them the option of a different type of reward
- 24% said they’d stay with gas rewards
- 8% said they’d opt for travel rewards
- 6% chose electronics, housewares or apparel.
The survey results are based on an online survey in March 2015 of 1,000 American respondents. The survey’s margin of error is +/- 3.5% at the 95% confidence level.
Customers to be Rewarded for Jiffy Lube Pennzoil® Motor Oil and Shell Rotella® Engine Oil Change Services
Shell Canada Products, the authorized Canadian licensor and franchisor of the Jiffy Lube brand, and LoyaltyOne, Co., owner and operator of the AIR MILES® Reward Program, announced that Jiffy Lube service centres will now be offering AIR MILES reward miles to customers for oil changes as well as windshield wiper replacement and windshield wiper fluid purchased with oil changes at participating locations in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Quebec.
At over 150 Jiffy Lube service centres in Canada, customers will earn one AIR MILES reward mile for every $20 spent on eligible products and services, and additional bonus reward miles during promotions and with the purchase of an oil change featuring premium Pennzoil® and Shell Rotella® products.
"Jiffy Lube was founded on, and upholds, the values of fast, convenient preventive maintenance service,” said Denny Reiner, Director of Marketing, Jiffy Lube International. “By offering AIR MILES as an additional benefit, we further enhance the overall customer experience and deepen customer loyalty.”
Between now and May 31, 2015, Jiffy Lube customers can earn bonus AIR MILES reward miles on their purchases in-store, collecting up to 25 bonus AIR MILES when purchasing an oil change with Pennzoil Platinum™ Full Synthetic line of motor oils with PurePlus™ Technology or collect up to 20 bonus AIR MILES when purchasing an oil change with Shell Rotella premium products.
“This new partnership not only increases earning opportunities for our Collectors related to their oil change services, but also speaks to the value of the program as it pertains to the customer insights gained through our Sponsor partnerships.” said Blair Cameron, Senior Vice President of Client Services, AIR MILES Reward Program.
Customers can redeem the AIR MILES reward miles they earn at Jiffy Lube, and from hundreds of other Sponsor locations, for more than 1,200 different reward options such as travel, merchandise, exclusive events and experiences and the program’s instant redemption feature, AIR MILES Cash, at participating Sponsors.
Shell Canada Products has been a national AIR MILES Reward Program Sponsor since 1993.
Collectors can visit www.airmiles.ca for complete details on Jiffy Lube offers and participating locations.