Grocery stores promise loyalty points that lead to discounts on groceries
Trend - With stiff competition, some grocery store brands are aiming to stand out with apps and loyalty programs that reward consumers with points and discounts on groceries for shopping at their locations.
Insight - Between rising costs and job losses, more people in North America are facing high costs of living that can be difficult to maintain. Worsened by the pandemic, food insecurity is an issue that many consumers are dealing with. Brands that are able to help offset some costs of living in exchange for brand loyalty are therefore increasingly valuable to consumers.
Insight - Between rising costs and job losses, more people in North America are facing high costs of living that can be difficult to maintain. Worsened by the pandemic, food insecurity is an issue that many consumers are dealing with. Brands that are able to help offset some costs of living in exchange for brand loyalty are therefore increasingly valuable to consumers.
Workshop Question - How is your brand prioritizing its customers' wellbeing?
Trend Themes
1. Loyalty Programs - With rising living costs, loyalty programs that reward consumers with points, discounts, and savings are becoming valuable to consumers.
2. Mobile Apps - Mobile apps are being increasingly used by grocery stores to streamline online ordering and delivery processes while also incorporating rewards and games to keep customers engaged.
3. Credit Cards - Grocery tech companies are collaborating with credit card issuers to introduce credit cards that offer rewards and benefits to consumers for their purchases on the platform.
Industry Implications
1. Grocery Stores - Grocery stores are using loyalty programs, mobile apps, and credit cards to improve customer engagement and satisfaction while streamlining online ordering and delivery processes.
2. Food Industry - The food industry is being disrupted by grocery store loyalty programs, mobile apps, and credit cards that offer unique rewards, discounts, and savings opportunities to consumers.
3. Fintech Industry - The fintech industry is being disrupted by the introduction of credit cards that offer rewards and benefits for grocery purchases made on grocery tech platforms.
