Loyalty programs need to reward long-term customers, but seldom do. Customers who have been around for 5, 10, 20+ years are the most loyal, but are often taken for granted. Frequency programs need to focus on rewarding the 20% of customers that account for 80% of sales.
Mr. Lindell likes to pride himself as having risen up after his crack addiction – which he did. But now he has to live with his new description, "from crackhead to crackpot."
If his business tanks, he has plenty of inventory to cry into.
Agree. One way Walmart can do their own thing is to offer lower prices with more bundle deals. It's much harder for Amazon to create bundle deals with thousands of vendors. Ultimately, Walmart needs to beat Amazon on price to win.
Walmart and all grocery retailers should take a page from Hy-Vee's merchandising playbook. Hy-Vee cross merchandises non-food products on EVERY aisle. Maybe too much, but it must be working and it certainly boosts their bottom line.
Completely agree. Whole Foods' same-store sales had been declining for two years before Amazon bought them. Plus, no one seems to get that grocery delivery will NEVER appeal to the majority of customers who want to SEE and touch their fresh meat and produce BEFORE they buy.
Best Buy's core customers are or were baby boomers which is the right demographic and BBY is positioned perfectly to take advantage. But BBY is a merchant-driven, not a marketing-driven company. This is a huge opportunity, but to fully leverage, BBY will need to commit an equal amount in resources to effectively market, advertise and promote. We'll see.
Maybe it will evolve to where one food category is all stocked in the same aisle, but healthier products are simply grouped together. Shoppers can then easily locate their preference with no additional signage needed. The cereal aisle seems to be going in that direction in some stores.
Retailers have to remember that loyalty programs are created to reward your CORE customers (the 20% that account for 80% of your sales.) Price discounts are OK, but surprise your core customers with other perks that will be highly valued by them.