We dug in to this story using our grocery data sets. By tracking promotional sales up to, and after, the announcement we saw a 2% year-on-year decline in average price paid for Pinnacle Foods’ products. Following Conagra’s announcement, there was an immediate price hike that took average prices 6% higher in the following six months. As per this article, our findings suggest a lack of due diligence was performed during the transaction.
To see our full report, send an email to email@example.com.
The main difference between a retailer built for the web and a physical retailer predating the internet, is that in any transaction in the former the concept of a unique customer is a necessary requirement to complete a sale. This isn’t true of a traditional retailer. In most you can walk in, pay, and remain anonymous. In terms of growing an audience this puts the web-retailer at an advantage* over the traditional retailer.
What Knowledge Leaps can do is use data engineering and analytics to provide a customer view. A view of their business that is beyond the basket view. This allows retailers to manage and grow their audience in the same way the web-retailers do.
That’s how Knowledge Leaps can help.
Why we want to focus on retail? We believe that retail is important to society. It puts people on the sidewalks and pavements of our cities, making them vibrant places to live as well as attracting other businesses and services too.
*There are a few disadvantages for web businesses: the cost of creating brand awareness and driving traffic, compare this to the traditional retailer that gets some free traffic by virtue of location as well as some free awareness building. Also, the cost of shipping products to customers and the cost of warehousing inventory.