Symphony RetailAI analyzed shopper data from 421 million baskets in the U.S. and Europe and the research shows that omnichannel grocery shoppers shop more frequently and spend up to 20 per cent more compared to in-store-only shoppers.
“Because most grocery retailers operate with narrow margins, it’s important for them to find ways to gain more share of wallet while building customer loyalty,” says Chris Koziol, CEO, Symphony RetailAI. “Providing customers with an online channel to shop how and when they want is a key differentiator, as we see with the increasing loyalty of omnichannel shoppers observed in our data. Therefore, the online grocery trend should be seen as a win-win omnichannel scenario, not a matter of ‘bricks versus clicks.’ Our recommendation to retailers based on these insights is to focus on the complete customer lifecycle and buying journey with an emphasis on driving repeat purchases to build long-term engagement.”
Other key findings include the following:
- Customers are making more repeat purchases.
- Repeat online visits lead to long-term customer retention.
- There is potential for online to create an Amazon effect with untapped category ranges.
- Online grocery sales doubled year over year.
The data suggest that retaining online and omnichannel shoppers and encouraging in-store shoppers to make online purchases could yield long-term loyalty for retailers in the new grocery landscape.