What European grocery shoppers really want and how supermarkets can deliver it with AI
Artificial Intelligence company Rubikloud surveyed 3,000 grocery shoppers in France, the UK, and Germany in September 2019.
- They found that 79% think supermarkets could do more to reduce their packaging and food waste. Indeed, 42% would advocate fines for supermarkets who fail to reduce their waste levels.
- Two thirds (66%) of European consumers would be more likely to stay loyal to a supermarket that had made a firm commitment to reducing food and packaging waste.
- Rubikloud also discovered that shoppers don’t trust the consistency of promotions and pricing across channels with only 37% confident that they are getting the same deals and promotions online as they would get in-store.
Risks to brand reputation
The key message to grocers from these findings is: If you aren’t addressing food waste, forecast accuracy and service consistency in your stores and online, you’re risking your brand reputation, and losing valuable margin due to inefficiencies.
Salvation is within reach thanks to the latest AI software, which harnesses big data to deliver more accurate forecasting, replenishment and promotions planning. By using the latest machine learning techniques retailers can become far more precise when forecasting stock for general sales and for promotional pricing activity.
Technology can provide simple solutions to reduce the chances of shrinkage and waste – protecting margin and keeping customers happy.
With AI it’s possible to solve real business problems by delivering highly accurate, automated mass promotional demand forecasting at chain, store and SKU levels.