Study: 85% of grocery retailers lack capabilities, technology, expertise to monetize data
For example, 96% of grocers who offer media opportunities for CPG suppliers on their apps saw an increase in revenue over the last 12 months.
dunnhumby, London, released The Future of Retail Revenues Must Be Data Led, a commissioned study conducted by Forrester Consulting, Marietta, Ga., that found 85% of grocery retailers globally lack the capabilities, technology, people and processes to use insights to monetize their data and drive customer experience. Despite barriers, the majority (85%) of global grocery retailers view growing revenues as their top priority in 2020, and plan to do so by improving their use of data insights to develop customer strategies (84%) and to make business decisions (82%).
“The global grocery market is in a fight for survival against pure play and other non-traditional competitors, who are further squeezing razor-thin margins,” says David Clements, global retail director. “We commissioned this study to better understand why so many retailers aren’t taking advantage of new revenue streams, while improving the shopping experience for their customers. We believe the study findings highlight the growing importance of the role of customer data in attaining sustainable growth.”