With inflation remaining high, price-conscious UK shoppers now want the shelf-edge to become more dynamic when it comes to pricing and promotions to help them secure the best deals, states a latest research.
According to latest report from Pricer, reveals real-time visibility of prices delivered at the shelf-edge as the top driver of in-store customer experience (CX) for almost two fifths (39 per cent) of consumers. A third (33 per cent) said they now wanted real-time visibility of deals and promotions delivered at the shelf-edge, and a further 30 per cent wanted digital labels to give them live alerts on price drops, to help them get the best deal and help their budgets go further.
While more dynamic pricing and promotions capabilities were the key components in improving experiences at the shelf-edge for shoppers, over a third (36 per cent) also wanted instant alerts to be sent to staff to improve replenishment, with notifications on out-of-stocks sent in real-time to help store associates restock shelves more quickly and reduce shelf gaps, which remains a key bugbear for shoppers in-store.
Typically, shoppers report that on average 17 per cent of their regular food shop is unavailable on shelf when they shop in-store. A fifth (19 per cent) of shoppers also wanted to see the shelf-edge used as a vehicle for delivering personalised offers and deals, with shoppers wanting to be engaged and communicated to in the aisle when making their buying decisions.
The report further adds that 45 per cent said they wanted more digital signage at the shelf-edge to help inform their purchasing decisions, rising to 57 per cent of Gen Z, while over a third (36 per cent) would be more likely to convert if they were served digital ads at the shelf-edge, rising to 58 per cent of Gen Z.
Peter Ward, Country Manager for UK & Ireland at Pricer, commented:
While inflation is falling, down to 8.7 per cent against its peak of 11 per cent, prices remain stubbornly high and consumers continue to feel the pinch. This is prompting real-time pricing and promotions to feature strongly amongst the top CX-drivers at the shelf-edge.
“Whilst more dynamic pricing and promotions alerts are going to win favour among cost-of-living consumers, the shelf-edge has the potential to become so much more than a vehicle for pricing information alone,” Peter Ward, Country Manager for UK & Ireland at Pricer, commented.
“Digitally-enabled, the shelf-edge has the potential to become a compelling customer engagement platform, offering retailers the ability to serve highly-targeted, engaging advertisements to conversion-ready shoppers, as well as opening up potential new ad revenues streams as 3rd party brands expand retail media network capabilities.”