Is My Competition Really What's Going To Make Or Break Me?

Posted by LeeAnn Taylor

Last week I was reading Leslie Sarasin’s latest blog about the Worry Index. If you aren’t familiar with the Worry Index it’s a section of FMI’s The Industry Speaks research which compiles a list of the grocery industry top 10 issues identified by CEO’s as concerns they deem most impactful….the ones that keep them awake at night. I had seen Leslie speak about a month ago on this very topic and was kind of mesmerized by the issues and numbers FMI was putting out there in comparison to last years. The more I listened the more I knew I have been on the right track for a while now. I got really jazzed over a very specific area though. Take a guess guys….ta da…it’s the effect Millennials are really showing in the grocery marketplace over 2015.

There is no surprise that “competition” in of itself has always been a factor right at the top of the Worry Index, ranking either #1 or very near the top for years now. Then this year it darn near fell right “off” the Worry Index list, barely hanging in there at #10. How could that be? More importantly I guess the real question we should being asking is “why” is that? Hasn’t competition been a key factor in doing business? Does the economy stabilizing have anything to do with this? Or are the micro type marketing initiatives beginning to show numbers?

I do have my own suspicions and it shouldn’t be too much of a surprise to anyone who reads my blog. It’s those darn Millennials again. I believe that as we have moved our marketing into an era that uses more media and social marketing to entice Millennials on a “one on one” basis we are really seeing the differentiation of stores. I talk an awful lot about making each shopping trip an experience and now the numbers are starting to reflect that mindset. The sheer need to draw more Millennials into your floor space has made a lot of grocers think out of the box in their marketing concepts, opposed to just the older competitive pricing structure that had been occurring for so long. 

As we all throw everything at the wall trying to entice more Millennial shoppers in 2016, I think we will see the differentiation of the shopping experience continue to elevate over sheer competitive price matching that has been the main staple of the past.

So what’s our take away? I think we’re all starting to see that competition isn’t necessary with the store down the street any longer…our main competition lays right within your own four walls and just exactly how far we are willing to go to make a shopping experience  unique and personalized for the Millennials…and even their parents. Remember, I may not be leading this parade like my Millennial kids but don’t be mistaken; I am not opposed to joining that parade as it passes by me. So, if we are our own competition now and we’re only limited by own creativity, then isn’t this an opportunity to finally take the upper hand? Just give that a minute to settle and percolate….then go for it!

Blue Skies Everyone

#GrandMillennial

Tis the Season …..Millennial Style

Posted By: LeeAnn Taylor

It’s really hard for me to think about anything other than Christmas music right now since that’s an integral part of my “real” job….(the one that pays the bills). I prepare for the season like a veteran quarterback trains for the Super bowl and right now I’m sitting on 3rd and goal and feeling pretty darn good about it. Grocers have Christmas music…check. Now my millennial team gets to have some real fun and be creative with the seasonal audio advertising , which is where they really shine, and have some fun in the recording studio.

What do I do? As our illustrious leader likes to say “we serve independent grocers with in-store audio advertising and music” And we’re good at it! Our team of Millennials have their fingers on the pulse of what other millennials respond to, and more importantly how to reach them at the POP. For an independent grocer that’s key. Like every other avenue of advertising and marketing in-store audio has had to adjust to the beat of a completely new drummer to stay relevant. (which is what initially got my crazy brain dissecting Millennials in the first place). It’s not like I had nothing better to do. It became a necessity to do my job well and everyone knows if I’m going to do something… I’m gonna do it full out.

Transitioning can be a tricky business though folks. Why? First off you have your Baby Boomers, like little ole me, who are very much still viable consumers. You still need to meet my needs while I’m in your store…or I’ll get ticked off. I like the old fashion way you’ve always branded your store. Tell me about your low prices and savings and I’m yours! Now the Millennials, they want to hear a completely different kind of branding from you. In addition to a good price point they want to know about your produce and where it’s coming from, do you carry an organic line, where’s your pre-pared foods section, do you have sustainable practices, are there any local products on the shelves? That’s branding Millennial style. 

So it’s no longer enough to just say that you have an audio program. You need to tailor and custom build a relevant audio package that supports Boomers and Millennials alike, but most importantly speaks to your brand, carries your very specific message and philosophies, and engages the community that supports you. Through your ceiling speakers you have a medium that carries a clear voice to EVERY customer that graces your doors. Can you say that about a sign? Or a floor graphic or even a TV monitor? No you can’t. 

So create a radio program that makes you unique and stands out….and most importantly keep it fresh guys. Stale =boring=lost revenue. And if you’re anything like me you hate to lose….especially when it’s your mind. But then again, that would require me to have one to start with, and we all know my kids robbed me of that a long time ago.

Blue Skies Everyone!
#GrandMillennial