“In the sea of nearly identical programs, grocers are racing to keep up by adding perks such as free delivery or bigger buy-one-get-one savings,” Upside’s Thomas Weinandy said in a blog post.
It’s unusual for a retailer to make it more difficult for consumers to shop at its stores. But membership fees are the key to Costco’s business. In fiscal 2022 (ending August 28), membership fees accounted for 54% of the company’s operating profit; the figure has risen to 58% in the first three quarters of fiscal 2023.
Generative AI has the potential to revolutionize grocers’ entire ecosystem, especially online—if they know how to utilize the technology.
Offerings such as member pricing boast potential to simultaneously grow market share and increase loyalty program penetration for grocers.
The C-store landscape has changed drastically over the last several years, but the transformation is far from over.
As food prices continue to rise in these economically uncertain times, value is at the forefront of many consumers’ minds and grocery loyalty programs are more important than ever. But which grocery loyalty programs do consumers value most?
Welcome to the FI Newscast! Each week, we note the latest industry trends and consumer insights, with guest appearances by the foremost industry experts. This week’s guest was Hunter Thurman, President of Alpha-Diver – one …
Though experts still are split on whether the U.S. Federal Reserve’s inflation-fighting moves will plunge the economy into a recession, consumers apparently aren’t waiting for the official figures, already trimming their grocery bills and choice …
The inflationary environment means grocers need to fight hard to retain their customers, and data is one of the most important marketing tools at their fingertips.
Restaurant industry executive Kevin Bryla closely monitored the sector during the past two years, and he walked away rather impressed by operators’ resilience. Despite pandemic-related challenges, many restaurateurs displayed more than enough savvy to survive. …
Retailers are looking to outside partnerships and personalized benefits as ways to boost the perceived value of their subscription offerings.
Food-based add-ins are playing a larger part in Amazon’s subscription plan, as retailers across the industry seek ways to combat fading customer loyalty and reduced spending. The addition of a year of Grubhub+ to Prime …
Loyalty programs are becoming more important than ever as rising inflation causes shoppers to seek the best deals possible, but too many offer the same, uninspired benefits — leading to 50% of consumers believing that …
Loyalty and subscription services helped companies retain current customers and attract new ones, even as the pandemic upended many business models. “Loyalty programs are popular right now for several reasons,” Jacob Borgeson, director of product …
Newsweek recently released its America’s Best Loyalty Programs 2022 list and several food brands stood out. In the grocery category, Kroger, Sprouts Farmers Market and Publix Super Markets landed the top spots, while Jersey Mike’s …
The convenience store channel grew 7.7% in the 13 weeks ending September 26, outperforming the broader market for the third consecutive quarter, according to a new report from data analytics firm IRI. Stronger growth in …
This week, in The Food Institute’s quick-hitting, audio news podcast, we examine the popularity of loyalty programs, the ascent of dollar stores, and more. The Food Institute Podcast · FI Fast Break News – Sept. …
Loyalty programs continue to gain traction across the food industry as restaurants and retailers implement new offerings to capitalize on customer allegiance. The increase is widely tied to pandemic-induced spikes in digital commerce along with …
Free is good, as any customer will tell you, and fast-casual restaurants are beginning to see the benefits of offering free (or virtually free) coffee to drive increased traffic and revenue. In February 2020, Panera …
