As grocers invest in their omnichannel offerings, PYMNTS research shows data analytics are a priority.
Grocers are looking to unify their capabilities across digital and in-store experiences, and to do this, they need a clear picture of how shoppers behave across different channels.
Take, for instance, Walmart, the world’s largest grocer. On the retailer’s Q3 earnings call, the company discussed its goal to invest in the omnichannel experience.
“For a long time, we talked about the value of a store customer plus shopping on eComm [and] how much more valuable that was,” said Walmart U.S. President and CEO John Furner. “We see that accelerate when it’s pickup, eCommerce and stores. So going forward, you’ll hear us talk about this more and more as an omni-offer, which is really flexible for the customer.”
One way that grocers are gathering in-store data is through digital checkout technologies such as smart carts and pick-up-and-go cashier-less checkout systems that track how shoppers move through stores.
“All these data points are ones that we just couldn’t measure very well until today, and it opens a whole new world of data analytics,” Raz Golan, CEO and co-founder of grocery store technology company Shopic, told PYMNTS in an interview.
Indeed, back in June, eCommerce behemoth Amazon announced the launch of its new Store Analytics service, presenting brands with data about “how their products are discovered, considered and purchased” at an estimated 50 Amazon Fresh and Amazon Go locations in the United States that use its contactless Just Walk Out and Dash Cart technology.
Research from PYMNTS’ study “Big Retail’s Innovation Mandate: Convenience And Personalization,” created in collaboration with ACI Worldwide, finds that 50% grocers are currently investing in innovating on the ability to track customer purchase history across all channels.
The report, which draws from a survey of 300 major retailers in the U.S. and U.K., noted that grocers over-index relative to other kinds of merchants when it comes to this area of innovation. A slightly lower 48% of retailers overall reported the same.
