Engaging customers to spend more in-store.
Building basket value with current shoppers purchasing within the store is the greatest opportunity for any retailer. If you can convince shoppers to spend more while in store with current offers, then you drive both value of basket and item count. In our 2017 Convenience Measures Australia (CMA) Shopper Report, we identified that the average basket size is 1.9 items per transaction with a $8.90 value. While the average basket size was just under two items, almost 50% of all transactions had just one item in the basket.
This is one of the biggest opportunities for retailers and suppliers to engage the customer on each visit, as well as building a longer term ‘more frequent’ shopper. One of the ways the channel currently drives basket value is through promotions, with the average basket jumping to 2.8 items and a spend of $10.70. This, however, is now only 20% of total shoppers across the channel, which has been a decreasing number based on two factors:
- More every-day-value offers, especially in beverages
- The lackluster growth rates and the share of sales from traditionally strong performers in the snacking category.
Please click here to read full article: C&I Magazine April-May 2018