We compiled Engage3’s most popular blog postings of 2019 ranked by average number of hits per day. Learn about emerging trends in new store formats, Price Image, AI, and healthy foods.
10. Talking Shop: AI as the new store manager; premium shelf placement for healthy foods
Ken Ouimet of Engage3 and Wes Bean of Catalina Marketing discuss how some retailers in Europe are experimenting with premium shelf placements in stores for healthier-for-you items. They also discuss how companies can leverage data science to know the customer better, and the challenges of balancing competitive positions with price investments.
9. A History of the Grocery Cart
“The wonderful thing about food is that everyone uses it, and they only use it once.” – Sylvan Goldman | The grocery cart, now a retail standard, originally looked nothing like it does today. In 1936, Sylvan Goldman and a young mechanic by the name of Fred Young invented the first commercial grocery cart. It was humble at first, but the pair’s invention went on to change the retail world forever.
8. Gartner’s Market Guide for Unified Price, Promotion and Markdown Optimization Applications
Now more than ever, pricing based on solid data is necessary for retailers to succeed in this increasingly competitive market. This report from Gartner gives an overview of the different levels of pricing automation, and finds that most optimization service providers aren’t keeping up with the needs of retailers.
7. The Aldi Effect: Are Walmart prices higher in locations where there is no Aldi store?
When European retailer Aldi started opening stores up and down Britain in 2016, people who lived close to a new retailer location started noticing that the value of their homes went up by as much as £5,000. It was called the “Aldi Effect” by the local media and, soon enough, the vicinity of an Aldi store to a piece of property became a listing feature. Aldi started putting up more stores all over the U.S. starting in 2011, with a total of 1,600 stores to date. And just like in the U.K., it would seem that there is yet another advantage to having an Aldi store in your neighborhood – lower prices for everyday groceries at your local Walmart store.
6. Using Price Image to Formulate Pricing Strategy
Price Image is how shoppers perceive a store’s pricing relative to its competitors. Many more things go into establishing price image, including promotion programs, elasticities, seasonality, price ending numbers, and the overall design of a store. At its core, Price Image takes customer excitement into account. It incorporates psychological elements, making it a consumer-specific metric and key to influencing how customers interact with your store.
Click here for the rest of the 5 blogs that ranked in our Top 10 list.
