A year after war in Ukraine, grocery retailers are facing a generalised range of cost inflation for energy and also products. What strategies must be adopted to face this unprecedented crisis of purchasing power, which is likely to last? Between price freezes, adaptation of sales offers and loyalty programs oriented towards purchasing power, what are the new commercial models emerging in the retail sector? How can they build consumer loyalty in this period of increased volatility?
The context
A steady and unprecedented price uplift
In Europe, price increases are continuing at a steady pace and reaching record levels. This increase is unprecedented, because it is both across all products categories and also multifactorial (after the escalation cost of shipping containers, there was increased packaging, components and energy). Whilst grocery retailers initially chose a “wait-and-see” attitude in the first half of 2022, each wanting to be the last to pass on the cost...
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