Opportunity for retailers - more than six in 10 Singaporeans enjoy grocery shopping
Address unsatisfied consumer demand and provide right in-store services to build satisfaction and loyalty
Omni-channel experience is the new retail reality
Among the top motivators for retail shopping, 61% of local consumers have indicated that they enjoyed shopping for groceries, while 57% of the respondents actively sought for healthier products and 56% of them hunted for bargains, according to the latest Nielsen Global Retail Growth Strategies Survey. Although Singaporeans displayed a high propensity to engage in grocery shopping, influencing factors were skewed towards getting a good deal, and primarily stocking up on food or household essentials in shopping trips.
“Locally, modern retail chains of similar formats in convenient locations are plentiful. To draw in shoppers, retailers and manufacturers are triggered to focus on promotions which inevitably produced a common impression that low prices should be expected,” said Raphael Pereda, Head of FMCG industry, Nielsen Singapore. “Consumers are trading up for what they perceive to be of additional value and quality. Savvy retailers need to stay relevant and be connected to the changing consumer demands, and address the gaps in their shopping experience to win.”
Creating a favorable shopping experience and understanding the needs of shoppers are significant to good customer satisfaction and repeat visits. The survey findings revealed that only 55% of the respondents felt their main grocery retailer carried all the items which they wanted and needed, 46% stated that the given offers were what they liked and valued, and 42% of these consumers said that their retailer understood their product preference and grocery shopping requirements.
Providing the right in-store services may prolong the time shoppers spent in the vicinity, encourage repeat visits, and potentially increase their loyalty towards the retailer. The top three services most used by the respondents were banking (48%), fast-food (43%), and pharmacy (38%).
Consumers are taking a blended approach when they shop nowadays, especially in Singapore where e-Commerce is growing.
Raphael added, “Shoppers are incorporating digital touch points along the entire path to purchase, from reviewing products online at home to using smartphones as personal shopping assistants in the store, and checking out at self-service terminals. Omni-channel experience is the new retail reality and retailers need to think out of the box to bring a unique shopping experience to consumers.”
Speak to your Nielsen representative now and find out how can retailers and manufacturers stay relevant to address the evolving consumers’ demands.