In the past few years, we’ve been no strangers to change and uncertainty. But while we see light at the end of the pandemic tunnel, macro-economic factors are proving to be a real and tangible concern for customers and marketers.
For customers, breaking free from the shackles of lockdowns provided a sense of optimism and excitement, but recent increases in the cost of living have started to pinch the family budget. We know 68% of customers are being more careful with spending (vs 6 months ago) and this is reflected in what makes it into the weekly grocery shop. The average basket hovers around 15 items, up slightly over Covid, but down over the past twelve months.
The uncertainty that exists isn’t unique to customers; brands and marketers are also staring down an uncertain period where marketing budgets will need to be justified and link directly to real business outcomes.
For brands, it’s increasingly important to show up for customers where and how they choose to shop. As marketer Mark Ritson once said, “The best marketers will be upping, not cutting, their budgets”.
But there’s a silver lining in these turbulent times and that’s where retail media and Cartology can help. Our deep connection to customers, omnichannel retail media network and ability to position your brand along the connected shopping journey will ensure your brand is in the basket in 2023.
From value to loyalty, let’s look a little closer at what’s on the agenda for customers in the current climate.
While price is important, two-thirds of value perception still comes from other factors such as freshness, health and sustainability.
25% of customers are embracing online grocery shopping as a way to manage the weekly budget.
1 in 5 customers have been more engaged with loyalty and rewards programs as a result of rising prices.
Ready to get your brand in the basket?
Get in touch, or contact your Cartology representative to find out more.
In a world where customers are not just thinking about value, but acting on it, how do brands ensure they are seen, considered and chosen? Cartology can help.
While we know some customers are embracing digital to help manage their weekly grocery shop, in this new omnichannel world, it's important to remain top of mind along the connected customer journey. From off-network to digital, screens and in-store, Cartology can help you show up wherever customers are engaging with Woolworths retail touchpoints.
We know 40% of customers have recently switched brands, so in a switching environment don’t lose to a category alternative. Focus on your brand equity and reinforce your product's features and benefits with clear messaging around value, beyond price. Leverage content and ensure you are visible both in aisle and at shelf.
Customers are open to new brands, with 78% of consumers considering more than one brand when they start their purchase journey. When customers are actively considering products in your category, get smarter and ensure you show up, maximising shelf exposure in-store and online with products like paid search (Cartology Promoted Products).
In this op-ed Nancy Veart, Cartology’s General Manager of Client Partnerships and Sales explains that as budget-conscious customers seek value, brands must “turn up” to land a place in the basket.
It’s the third wave of advertising and it’s shaking up the industry. Learn more about the power of Retail Media, to reach and impact your customers along the connected shopping journey.
From campaign planning to customer purchase; Goodman Fielder Marketing Manager Nikoleta Kastanias unpacks how retail media set a new measurement benchmark, attracted new customers, boosted conversion and recycling rates - while driving product sales.
Ready to get your brand in the basket?
Get in touch, or contact your Cartology representative to find out more.
