What can we learn from Costco and Wawa? Let's delve into the strategies of Costco and Wawa, two rising stars in the retail media space. While both have a strong online presence, their true strength lies in creating remarkable in-store experiences that captivate consumers and introduce them to new products. Key takeaways from our latest analysis ⬇ - Costco’s and Wawa's brick-and-mortar visit growth positions their stores as ideal platforms for effective retail media engagement. - Both Costco and Wawa enjoy higher loyalty rates and longer in-store visit duration than key competitors. - Costco's visit dominance in the Western U.S. and in other major population centers offers prospective partners access to consumers across a broad range of key markets. - Wawa's focused expansion in Miami, diversifying its visitor base, positions the c-store as a promising new player in the retail media landscape. - Understanding local nuances is pivotal for both retail media advertisers and providers. Dive deeper into these insights by checking out the full report linked below in the comments. #retail #media #advertising
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What's great about Walmart's strategy is that it consistently delivers clear value. Even with its new premium brand, Bettergoods, 70% of the products are priced at $5 or less. But Walmart is not just a price leader. It's also a great brander and observer of market shifts. To appeal to the growing demand for "lux for less" segment, the company made some deliberate design choices with its Bettergoods brand: 1) Glass jars - provides a tangible sense of quality and freshness 2) Bold colors & flavors - cater to the adventurous palates of Gen Z and Millenials who make up 40% of the population 3) Presentation - emphasis on "local," "plant-based," "handcrafted," and "real ingredients" to convey quality Bettergoods is Walmart's largest store brand initiative in 20 years. The line includes over 300 products ranging from frozen foods to snacks and beverages. This move is well-timed as more Americans turn to store brands amid high prices. Last year 26% of grocery and beverage sales came from private brands, up from 25% the year before. Once again, Walmart is playing to its strengths - proving that value and quality can coexist. #retailstrategy #retail #walmart #cpg #consumers #branding #marketing #value #buiness PHOTO: F. MARTIN RAMIN/THE WALL STREET JOURNAL
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As retailers update the market, we're getting a clearer picture of what’s going on with the US consumer. The good news is that reports of the demise of the American shopper have been greatly exaggerated. Target’s growth is a further proof point that while consumers remain constrained and cautious, they are not in full recession mode. As a retailer that is skewed towards discretionary purchases, Target is a more important signaler than Walmart in this regard. However, to get better numbers Target discounted more and sharpened its prices. This includes during the promotion-driven Circle Week, which was an important driver of sales during the quarter. Target also has a more favorable position than many in the middle market, if only because of its more value-oriented stance and its essentials offering which still generates footfall. Go beyond Target to a retailer like Macy’s and you find much softer results. More of the offer is discretionary and the value position is much weaker – especially in stores that Macy’s has not invested in. Essentially, the market is polarizing. The delineation between winners and losers is becoming sharper. The consumer is spending, but they are thinking deeply about the value they get for parting with their dollars. And, generally speaking, retailers with those weaker value propositions are the ones losing out. I chatted with The New York Times about this. Link to the article is in the comments. #retail #retailnews #shopping #economy #earnings #consumers
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Retail fanatic I Grounded insights in Retail and Consumer Goods management I Entrepreneur I Professor & Coach I Multicultural
In recent years, my passion for the hard discount model, particularly exemplified by retailers like LIDL and D1 in Colombia, has significantly grown. This enthusiasm extends to include prominent players such as Costco, Trader Joe's, and IKEA and many of the private/exclusive labels they carry. Yes, I know, many of these are not 'hard discounters' but they undoubtedly share key characteristics contributing to their remarkable success in a highly competitive market. Contemplating this exclusive set of retailers has led me to ponder a fundamental question: What is the common characteristic that underlies their success, and what is the inherent consumer promise that sets them apart? I believe the key to these retailers' reputation lies in trust. In today's world, where consumers face an overwhelming array of choices, often described as "the long tail," the most exemplary players are those increasingly positioned as curators of their product assortments. They willingly embrace the pivotal responsibility of ensuring that each item, regardless of its price point, exemplifies superior quality for their target audience. This recent role underscores the retailer's unwavering commitment to providing a meticulously curated selection that not only caters to diverse consumer preferences but also adheres to stringent standards of excellence. These top-performing retailers transcend the traditional role of mere sellers; they assume the mantle of guardians of quality, painstakingly shaping their collections to guarantee elevated satisfaction for an increasingly discerning shopper. Moreover, applications such as Yuka, are increasingly empowering shoppers to make the right choices at the point of sale. This shift towards curation and a steadfast commitment to quality assurance positions retailers like Lidl, Trader Joe's, and Costco as not just market players but as trendsetters, influencers, and custodians of consumer trust. In a landscape inundated with choices, these retailers stand out as beacons of reliability, setting the bar high for excellence in an ever-evolving and competitive market. So, armed with the information provided in the images below, what shaving gel would you buy? (Yes, it is an example from Target. No, it is not among my preferred retailers) Full disclosure: I have no relationship whatsoever with any of the brands or companies mentioned in this post or tags. #LIDL #TARGET #COSTCO #TRADERJOE'S #WALMART #RETAIL #IKEA #PRIVATELABELS #D1 #YUKA #EDGE #GILLETTE #UP&UP
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Rounak Shah @CorporatTrainer | Author Of 5 Books & Corporate Trainer | AI, Digital Transformation & Prompt Eng Coach | Leadership, Sales, Customer Exp, Change Mgmt, EQ, Innovation, Motivation & Mgmt Trainer | CEO Mentor
🚨 𝗠𝗮𝗷𝗼𝗿 𝗥𝗲𝘁𝗮𝗶𝗹 𝗦𝗵𝗮𝗸𝗲-𝗨𝗽 𝗔𝗰𝗿𝗼𝘀𝘀 𝘁𝗵𝗲 𝗨𝗦𝗔..! 🚨 We're witnessing a massive wave of store closures across some of the most recognized brands. Look at the long list of stores closing in USA - Rue 21 - 540 stores, famiy dollar 600 stores, Party city- 40stores , CVS -900 stores, Foot Locker- 400 stores, Bed Bath & Beyond 360 stores , Christmus Tree -all stores, Rite Aid- 231 stores, Best Buy 15Carter's -all stores, 99cents- 371stores, Express- 10 stores, Walgreens 150 stores, H& M 240 stores, David's Bridal -allstores , Tuesday Morning-all stores.... From Rue 21 and Family Dollar to CVS and Foot Locker, these closures are reshaping the retail landscape. The reasons? Economic shifts, the rise of e-commerce, and changing consumer habits or anything else.... ?????? This is a stark reminder of the evolving retail environment and how businesses must adapt or risk closure. 𝗪𝗵𝗮𝘁'𝘀 𝘆𝗼𝘂𝗿 𝘁𝗮𝗸𝗲 𝗼𝗻 𝘁𝗵𝗶𝘀 𝗿𝗲𝘁𝗮𝗶𝗹 𝘀𝗵𝗮𝗸𝗲 𝘂𝗽? 𝗦𝗵𝗮𝗿𝗲 𝘆𝗼𝘂𝗿 𝘁𝗵𝗼𝘂𝗴𝗵𝘁𝘀 𝗯𝗲𝗹𝗼𝘄𝗅 💥 #RetailRevolution #StoreClosures #EconomicShift #ConsumerTrends #RetailIndustry #ShopSmart #FutureOfRetail #Walmart #Ecommerce #Reatilstore #ReatilShakeup
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Not all brands are created equal. Recent retail news included a mixed bag of headlines and store closures while brands like Target, Whole Foods Market, H-E-B, Costco Wholesale, and Nordstrom Rack have big plans for expansion in the coming years. According to SRS' Karla Smith, who represents national retail anchors in new store site selection and disposition, "Retailers that are able to adapt to changing consumer demands and new development strategies will thrive. Target is a great example of a retailer meeting consumers where they are and adapting to stay relevant, exciting and convenient. Shoppers are looking for something different and there is a heightened awareness of accessibility, health and wellness that is not going away anytime soon.” Click the ICSC article for more insights and retailer news ➡️ https://lnkd.in/dMz7r-J6 #RetailOpenings #TenantRep #TargetStores #RetailNews #CRENews #StoreOpenings #StoreClosings
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Is CostCo the new Walmart…or is it just Hotdogs and Loo roll? Walmart struck gold with its retail media business, raking in a whopping $3.4 billion last year from its e-comm platform alone. Now, all eyes are on Costco to see if they can replicate that success as they launch their beta. With over 73 million paid members - that's more people than the entire population of France! - Ohh la la! Costco has a massive captive audience that brands would kill to reach and let's not forget their rapidly growing e-commerce sales, which could be a goldmine for advertising spend. But is it all hot dog combos and huge TV’s…..there are a few hurdles Costco needs to clear first: 🤺 Competition: Walmart and other retail giants are already dominating this space, so Costco needs to bring something unique or drive more value to stand out. 🏗️ Infrastructure: Building a robust retail media platform isn’t cheap or easy. Costco might need to invest in some serious tech and data analytics firepower (but I know they already have an awesome base with Circana) 🔒 Privacy Concerns: Customers value their privacy like they value those giant tubs of peanut butter. Costco needs to tread carefully to maintain trust whilst proving a credible value exchange 🤼♂️ Supplier Tensions: Introducing advertising could ruffle some feathers with existing suppliers, especially if certain brands get preferential treatment. Despite these challenges, the potential rewards could be juicier than pallet of strawberries for Costco to ignore. If they can crack the retail media code, they could be swimming in those pools they sell. What do you think? Did you spot all the CostCo shopping references? Comment below and give your view. #retailmedia #retailmedianetworks #advertising #Media #costco
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Just trust your gut and listen to no one, Steve Jobs advised him. So Ron Johnson, JC Penney’s new CEO boldly declared… We’ll stop doing promotions/discounts and just have standard lower prices. We’ll also round all prices up to the next dollar, vs $29, $39 $99 prices) What could possibly go wrong? A LOT, it turns out. He failed to appreciate something behavioral economists describe as “transaction utility”. When you buy something, you get two kinds of utility: 1. Acquisition Utility (also known as “consumer surplus”) is the value above and beyond the price you pay. 2. Transaction Utility is loosely, the good feeling you get from a discount. Transaction utility explains why “reason why” promotions are so effective. “New Year’s Day”, “Valentine’s Day”, “End of Summer”, “July 4th” sales etc. Within a year, JC Penney’s sales tanked and he was ousted as CEO. Based on pure logic, Johnson was right. Consumers were still getting the same value. But consumers are not purely logical. “Everyday low prices” work for Walmart and Costco because that is their entire proposition. Walking through their stores is understood to be one big bargain hunting spree and shoppers still feel they are getting Transaction Utility. Walmart even guarantees that if you find a lower price elsewhere, they will match it. Not so JC Penney which masquerades as a high-end shopping experience, comparing themselves to the likes of Macy’s. [1] One of our past clients in cosmetics ($200+ million in annual revenue) just swaps out the reasons but keeps the discount the same. If they do “everyday low prices”, sales tank. Source: MisBehaving by Richard Thaler (Nobel Laureate, Economics) #conversionrateoptimization #ecommerce #directresponsemarketing #copywriting #marketing #sales #retail
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🚨 Walgreens to Close Up to 25% of Its Stores! 🚨 Reports are emerging that Walgreens is planning to close a significant number of stores - up to a quarter of their locations! That’s around 2,500 stores potentially closing their doors. I truly believe that most #retailers, if they took the time to understand the current shopper and apply applicable changes, could adapt their approach and prevent such drastic measures. It's all about evolving with consumer needs and staying ahead of the curve. Don’t be left in the dust—understand your customers and evolve! #Walgreens #RetailNews #StoreClosures #BusinessUpdate #RetailIndustry
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Dive into the future of US #grocery retail with the Retail 2024 Sector Outlook series from Coresight Research! Our report on the #grocerysector provides exclusive insights and trends to watch in 2024 and features key players, such as Ahold Delhaize, Albertsons Companies and ALDI USA. Three themes we are watching in the grocery space in 2024: industry consolidation, competition dynamics and the rise of experiential retail offerings. Premium subscribers can read the full report for a comprehensive understanding of the evolving US grocery retail landscape: https://lnkd.in/eiYuMHGJ #Retail2024 #GroceryRetail #MarketOutlook
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It's officially the "first" day of fall (according to Starbucks). 🎃 ☕ Today, the brand launched their fall menu earlier than ever before in history, and we have a few takeaways on what makes the PSL's marketing strategy so impactful. Check them out below 👇 #Starbucks #MarketingStrategy#SocialMedia #Engagement #Community #DigitalMarketing #Trends #BusinessOwners #Retail #Relevant #Success #Growth #LDXMarketing
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