Minerva Insights & Solutions is out with a new study concluding that “the top three keys to survival for retailers are: price, fresh perishables and product availability. According to shoppers, store formats such as Aldi, Trader Joe's and Costco address key US grocery shopper needs the best.”
The study says that “while there are several other elements impacting store choice and loyalty like fresh perishables and organic options there is no question that Everyday Low Prices model is still the most important factor impacting US shopper store choice decisions … Shoppers rated their five most important factors in shopping as Fresh Perishables, Everyday Low Prices, Convenient Location, In-Stock Products and Wide Assortment. When analyzing impact on overall store satisfaction, other factors came up such as Quick Check-Out, Staff Friendliness & Service, Right Company Values, Store Brands, Promotions, Healthy/Organic Options and High Quality & Gourmet Foods.”
The Minerva study goes on to say that “in the last 30 days, 50 percent of US shoppers have visited Walmart, however the retailer fails to make it on the top ten list when it comes to overall satisfaction. Another notable absentee in the top ten list was Whole Foods with non-competitive prices the clear culprit.
“Across all retailers, shoppers say the biggest areas of improvement include price (20 percent), product selection (16 percent), check-outs (7 percent) and product availability (7 percent).”
The study says that “while there are several other elements impacting store choice and loyalty like fresh perishables and organic options there is no question that Everyday Low Prices model is still the most important factor impacting US shopper store choice decisions … Shoppers rated their five most important factors in shopping as Fresh Perishables, Everyday Low Prices, Convenient Location, In-Stock Products and Wide Assortment. When analyzing impact on overall store satisfaction, other factors came up such as Quick Check-Out, Staff Friendliness & Service, Right Company Values, Store Brands, Promotions, Healthy/Organic Options and High Quality & Gourmet Foods.”
The Minerva study goes on to say that “in the last 30 days, 50 percent of US shoppers have visited Walmart, however the retailer fails to make it on the top ten list when it comes to overall satisfaction. Another notable absentee in the top ten list was Whole Foods with non-competitive prices the clear culprit.
“Across all retailers, shoppers say the biggest areas of improvement include price (20 percent), product selection (16 percent), check-outs (7 percent) and product availability (7 percent).”
- KC's View:
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I’m having a little trouble with the conclusion that Aldi and Trader Joe’s are two of the three retailers seen by consumers as best positioned to satisfy their need for price, fresh food and extensive product availability. They are good and distinctive retailers, but those don’t really strike me as their strong suits.
