A new study reveals that food traders are missing out on revenue opportunities

A new study reveals that food traders are missing out on revenue opportunities

OSF Digital launches file 2022 Multi-Channel Grocery Retail Index With insights for food retailers and grocers to accelerate growth and increase loyalty

Quebec CityAnd the September 19, 2022 /PRNewswire/- OSF digitalThe award-winning company for digital transformation services for businesses around the world has announced the launch of 2022 Grocery Omnichannel Retail Index (ORI) Results in partnership with FMI, the Food Industry Association, and NRF, the National Retail Federation. Grocery Store ORI 2022 reveals progress on omnichannel best practices; However, the majority of food retailers lag behind in developing integrated, seamless and personalized experiences across all channels. This year’s benchmark study identified opportunities in the shopper’s journey that can reduce friction and bring in additional revenue and higher margins for grocers.

Due to the impact of the pandemic on digital acceleration, food retailers have made significant investments in omnichannel. Adoption of best practice standards has increased from 58% in the pre-pandemic phase to 65% today.

The ORI . Grocery A report summarizing key findings on the state of omnichannel and digital best practices in an ever-evolving industry. Combined with insights from FMI, consumer research for the Food Industry Association, Grocery ORI provides insights into investment trends and gaps in customer experiences today. Some of the key findings include:

  • Not many food retailers optimize the digital experience to increase cart size: While all ORI grocery food retailers allow customers to adjust the quantity in a shopping cart, only 20% offer the ability to move items from their cart to a “save for later” state; Whereas in other retail sectors, the adoption rate is 40%. The ‘Save for Later’ option gives the customer a way to find a previously thought of product and simply add it to the cart instead of having to spend time searching for it.
  • Just over half (58%) of food retailers recommend additional products in their cart before checking out, up from 35% in 2019. Suggesting free products or popular items to buy together is an effective selling tool to increase cart size and make the experience Shopping is more beneficial to the customer.

“The Grocery Multi-Channel Retail Index is an important tool for food retailers with insights into how to put the customer at the center of the experiences they create,” said Gerard (Jerry) Zatfani, CEO of OSF Digital. “It can be used to identify gaps in customer experience in order to facilitate shopping, stimulate conversion, and increase loyalty. OSF Digital is committed to providing this comprehensive study to better serve the food trade and grocery industry.”

“Food retailers have suddenly had to become masters of omnichannel marketing in a short period of time, often having to assemble multiple, differentiated software and solutions to meet customer demands,” he said. Bernardine Wu, Executive General Manager of Digital Strategy at OSF Digital. “The latest multi-channel segmentation index for grocery reveals that there are segmented shopping experiences and therefore opportunities to develop a stronger seamless customer experience.”

Launched in 2019 by FitForCommerce (now OSF Digital’s Strategy Division)And the ORI Grocery takes the pulse of digital commerce and multi-channel retail. The ORI . Grocery Examines how 50 leading US retail food vendors are performing across more than 100 web, mobile and store benchmarks. Grocery ORI depicts how North America’s leading grocers are delivering on the promise of omnichannel through detailed and extensive mystery shopping conducted by OSF Digital’s strategy consultants.

To view the full results, please visit: 2022 Multi-Channel Grocery Retail Index

For more information on the Omnichannel Retail Index standards for grocery and to see how your company stacks up, please contact [email protected].

About OSF Digital

OSF Digital is a global leader in commerce and digital transformation with expertise in connecting technology and strategy to achieve business goals. With a standing for experts in B2C and B2B commerce and numerous Salesforce Multi-cloud Innovation Awards, OSF Digital guides organizations seamlessly through their entire digital transformation journey. With clients in various industries around the world, OSF Digital provides personalized attention and the highest level of connectivity with a local presence around the world North AmaricaAnd the Latin americaand APAC and EMEA. For more information on OSF Digital, visit: osf.digital.

All trademarks and trade names mentioned herein are the property of their respective owners and are hereby recognized.

SOURCE OSF Digital

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