Recent figures from the UK’s biggest retailer Tesco reveal that multichannel grocery shoppers are proving to be its most valuable customers – spending 2.04 times as much as those shoppers who only buy in-store. When multichannel shoppers add general merchandise items to their cart, they spend almost 3 times as much.
Recent figures from the UK’s biggest retailer Tesco reveal that multichannel grocery shoppers are proving to be its most valuable customers – spending 2.04 times as much as those shoppers who only buy in-store. When multichannel shoppers add general merchandise items to their cart, they spend almost 3 times as much.
With Planet Retail this week predicting that more than three quarters of UK shoppers will use Click & Collect by 2017, recent figures from Tesco reveal that multichannel shoppers are its most valuable customers.
The UK’s largest retailer has stated that it aims to put customers first in a ‘seamlessly connected’ omnichannel world, in which shoppers are spending more online and less in stores.
Tesco reports that customers who shop in-store and buy groceries online spend 2.04 times as much as those who only shop in-store. And those who add general merchandising to their online shopping spend almost three times as much.
According to Tesco group multichannel director Robin Terrell, “People often worry about cannibalisation but that’s fundamentally missing the point. It’s about identifying your most valuable customers and satisfying them however, wherever and whenever they want to shop with us..”
With online grocery growing by 10% and online general merchandise by 25% over the crucial Christmas trading period, Tesco firmly believes that its multichannel strategy is the right one – but now the retailer believes it needs to move faster. Tesco plans to invest £200m in keeping prices low , whilst at the same time continuing to develop Click & Collect – which already accounts for 6% of Tesco’s online grocery sales and 70% of its general merchandise sales.
Discover how Profitero delivers accurate and reliable competitor price intelligence to help retailers compete more effectively in today’s multichannel environment – whether that be online or in-store. Email us at sales@profitero.com or visit www.profitero.com to find out how we can help you grow sales and margins.
Come and meet Profitero at leading events for multichannel retailing this year. We will be sponsoring and exhibiting at eTail Europe in June and at IGD’s Online & Digital Summit in November.
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About Profitero
Profitero is the leading global provider of online competitor pricing data. We provide both bricks & mortar and online retailers with their competitors’ prices, promotions and full product assortment information. Profitero’s accurate and timely competitor intelligence enables our customers to make better informed and more profitable pricing decisions, helping them to increase sales as well as margins.
More than 40 global retailers, including Staples, Sam’s Club, Tesco, Waitrose and Ocado, rely on Profitero Price Intelligence to:
- Benchmark competitor prices
- Manage their prices and promotions
- Attract price sensitive shoppers
- Negotiate better with suppliers.
Our pricing data can be seamlessly integrated into price optimization solutions such as Blue Yonder, Revionics and IBM DemandTec, to deliver more accurate and effective price optimization. Profitero is also the preferred supplier of online competitor pricing data to Nielsen’s retail customers across more than 100 countries.
To discover how Profitero can help make your pricing smarter, contact us at sales@profitero.com or visit www.profitero.com.