Loss Prevention Research Council Weekly Series - Episode 48 - Grocery Net Promoter Scores and What's in the mind of the CEO
With Dr. Read Hayes, Tony D'Onofrio, Tom Meehan
Last week updated everyone on the popularity of Amazon Go Stores where 54% of consumers rated experience as excellent. In the last week, the 1st Amazon Go opened in London UK, as a comparison 26 Amazon Go stores are open in USA. In 2018, Amazon announced they would open 3000 of these grab-and-go stores with no checkouts and no line experiences.
From Visual Capitalist, share of population vaccinated as of March 7 from our world Data: Israel 57%, Chile 21%, Bahrain 18%, USA 17.6%, and Serbia 15.7%. As of mid-February, 130 countries have still not started vaccinations.
From Statista, COVID-19 Deaths per 100,000 Inhabitants as of March 1: Belgium at 192, Czechia 190, Slovenia 184, UK 183, Italy 162, Portugal 160, and USA 156.
From Bain & Company Consumers are giving USA grocers higher Net Promoter Scores after the easing of operational challenges posed by the pandemic. Average NPS Score for Q4/2020: Club Grocers 47 + 4 over Q3/2020, Mass Merchants 29 + 6 over Q3/2020, Amazon 48 + 18 over Q3/2020. Online pickup bounces back. Online delivery NPS + 4 Q4 over Q3. In-store or curbside pickup NPS + 29 Q4 over Q3. Top 3 Challenges hitting shoppers in Q4/2020: Product out of stock -24% of consumers had this issue or almost 1 in 4, there were too many substitutions or items missing 11%, they did not have the range/brands I was looking for 10%.
How Grocers can maintain digital momentum amid COVID-19: Fix out of stocks as a matter of urgency, gather continuous customer and employee feedback to evolve and improve overall experience, meet rising expectations with innovation 51% of shoppers now buy at least some groceries online, don't let up on safety and communicate transparently.
IBM 2021 research of 3000 Global CEOs, top three actions of CEOs to build a change ready organization: 1) Enhance operational agility and flexibility; 2) Secure data and systems; 3) Improve data transparency. Top 3 Priority tech getting focus to deliver results: Internet of things 79%, cloud computing 74%, artificial intelligence 52%. Outperformers CEOs concentrate on: 1) Deliver better customer experience; 2) Develop stronger customer relationships; 3) Improve efficiency. Underperformer CEOs: 1) Deliver more innovation in business models; 2) Improve efficiency; 3) Deliver better customer experiences. Which of the following elements do you expect to create the greatest challenges over the next 2-3 years? Outperformers: 1) Technology infrastructure; 2) Regulation; 3) The "anywhere" workplace. Underperformers: 1) Market-shift; 2) Regulations; 3) Cyber risk. More than twice as many outperformers expect results from AI than underperformers. 97% more out performers CEOs than underperformers support employee well-being, even if it hurts profitability.
Vaccine Facts, Conspiracies, and More! In this week’s episode, our co-hosts discuss these topics and more, including a new call series on LPRC FusionNet, Foreign State Sponsored Vaccine Misinformation, Amazon Go in the UK, and Grocery Top Concerns.
