Why we’re excited about GroceryShop 2019
GroceryShop 2019 is right around the corner! We bet you’re wondering what you might get out of the event (besides some late nights). Our team asks that question ahead of any major event, which got us talking about what we’re most looking forward to.
GroceryShop is happening at a critical time for both the industry and the state of loyalty. As the grocery and CPG industries process the shift to digital technologies - combined with an increasingly distracted customer that now has to choose between online delivery, grocery pick-up options, and a myriad of brands. The power balance has never been more in the customers hands. How, then, do grocers and CPG companies embrace their customers and bring them closer into the fold of their businesses?
We believe companies should respond to the competition for consumers’ minds, hearts, and stomachs by building a new kind of direct connection with their customers. This next generation of loyalty can occur through ownership- relationship-oriented programs, grounded in making customers owners in the brand they love most - yours.
As you read this, you may wonder how that’s possible and if ownership would actually change consumer behavior. Meet Bumped. We are a technology platform - and underlying brokerage - on a mission to help brands build lasting 1:1 relationships with their customers. We partner with brands to give their customers free stock, turning loyal shoppers and spenders into shareholders. In an industry like grocery, where margins are tight (and consumers are often tracking for sales and deals), keeping your customers shopping with you is critical.
And, our data shows that it works. As our CEO David Nelsen wrote in a recent blog post, studying a 90-day period before and after 5,000 users selected loyalty with a brand (which we’ll call ‘The Grocer’ for anonymity), users spent on average 41 percent more with ‘The Grocer’ after receiving fractional shares as a reward for purchase. Moreover, users shopped on average 1.3 additional times per month!
While the potential tectonic shifts in the industry could send folks running from keynotes on the Vegas strip to the quiet solitude of Red Rock Canyon, our team at Bumped couldn’t be more excited to embrace these changes.
Interested in learning more? We hope you are. We can’t wait to meet all of you at GroceryShop to chat about how we can solve these mega-problems together!