4 ways retailers can add value across the shopping journey

“Today’s shoppers are like savvy jugglers,” Ben Galvin, senior director of omnichannel retail sales and ecommerce at Monster Energy, said during a recent Path to Purchase Institute webinar. “They’re balancing budgets, bouncing between in-store and online. Convenience continues to be king, but value is what they’re really looking for.”

But value means different things to different people.

“Consumers are not just looking for the cheapest option,” said Aki Susko, director of media sales at Ahold Delhaize’s retail media network. “They want the best value for their money.”

Here are four strategies for retailers to deliver value to consumers across the purchase path.

1. Leverage retail media for value-driven campaigns

As a premium-priced brand, grass-fed beef company Pre Brands has found success by leveraging partnerships with retail media networks to deliver targeted offers to customers.

“We’re not taking pricing actions, but we’re working with programs that offer incentives or give consumers the ability to stock-up-and-save,” said Nicole Shumacher, chief marketing officer at Pre Brands.

• By doubling its digital ad investment last year, Pre Brands achieved a 17x return on ad spend across digital channels, according to Schumacher.
• “It’s one thing to be able to go shopping and get the discount of the promotion at the shelf, but having the ability to deliver these coupons in a targeted way has been very valuable as we continue to not only grow consumers who are new to our brand, but also get that repeat customer back,” she said.

2. Emphasize loyalty and rewards programs

Loyalty programs can help retailers streamline the shopping experience by providing customers with targeted product recommendations and meal solutions.

“I always think about it in terms of the age-old question: What’s for dinner?,” said Aki Susko. “Especially if you’re a mom, it can be quite stressful. It can depend on what day it is, what you have going on, what the weather is like. Anything we can do to help people answer that question is a huge win.”

These programs are also rich sources of first-party data for brands to further personalize the shopping experience.

• But it’s crucial to use that data wisely. Otherwise, it could alienate customers instead of earning their trust.
• “The more we know about you, the more relevant, customized information we can give you,” said Susko. “But we recognize and respect that there’s a balance between being valuable and being invasive. We’re very transparent about our data practices and give customers control over how we use that data.”

3. Lean into shopping occasions

Retailers can help brands create activations around shopping events and occasions.

“Whether it’s Christmas, Thanksgiving, or Fourth of July, there are brands and categories within the consumer packaged goods (CPG) category that are relevant to each of those holidays,” said Galvin.

Brands can benefit even when their product isn’t typically in season.

• For example, to drum up beer sales during the holiday season, Stella Artois created an in-store display featuring an LED fireplace decorated with garland and a stocking.
• “These are the types of opportunities [where brands can grow] incremental sales and steal wallet share from competitors,” said Galvin.

Photo credit: Path to Purchase Institute

4. Experiment with sampling and experiential marketing outside the store

“Sampling shouldn’t be confined to the four walls of brick-and-mortar,” said Schumacher, noting brands can conduct sampling events at races, food festivals, or other local events.

• Brands can combine IRL sampling with digital elements like QR codes or digital coupons for maximum effectiveness.
• “Proving ROI on events is hard,” said Schumacher. “Incorporating digital elements helps to really measure the impact and drive consumers back to your digital properties.”
• This is crucial given the growing role of mobile devices in the shopping journey.
• “Cart building activity isn’t just happening in-store,” said Galvin. “It’s happening on the phone, whether you’re building a shopping list in your notes or adding to your cart on Instacart.”

This was originally featured in the Retail Daily newsletter. For more retail insights, statistics, and trends, subscribe here.