Today’s retail landscape is rapidly evolving. With access to anytime/anywhere information via their smartphones, shoppers have unprecedented visibility into product and pricing information. This infographic outlines the 3 key reasons why online retail price intelligence matters for every retailer - whether you sell online or not.
A Nielsen online survey - involving 56 countries - has revealed how 16 factors have impacted global grocery purchases in the last year.
A new pricing intelligence study from research group Nielsen has highlighted the impact of rising food prices on grocery shopping.
Eighty-five per cent of those taking part in the Nielsen survey said that rising food prices were impacting their choice of grocery purchases.
The high prices in the food category was stated as the number one consideration among 16 factors that influence a shopper's choice of grocery purchases. According to the Nielsen research, the surge in food prices is affecting 81 per cent of respondents in Europe, 83 per cent in North America, 82 per cent in the Middle East /Africa region, 88 per cent in the Asia-Pacific region and 86 per cent in Latin America.
As well as price, consumers admitted their purchasing decisions were also influenced by product availability, in-store services and health issues. Shoppers are also going online to carry out competitor price monitoring.
The retail price intelligence study also reported on how the influence of health factors on shopping choice is most significant in Asia-Pacific, how delisting a favourite product is a major concern for 3-in-10 global respondents and how loyalty programs significantly impacts shopping choice for 1-in-4 consumers worldwide. Click here to view the full Nielsen report.
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Pricing intelligence company Profitero works with retailers and manufacturers to help them increase sales and maximise their profits by using competitor price, promotions and stock information at scale. For more information on Profitero price intelligence and competitor monitoring, visit www.profitero.com or email email@example.com.