Global management consulting firm Bain & Company is launching a version of its benchmarking platform for the grocery industry. The cloud-based service, called NPS Prism, delivers actionable information to more than 50,000 consumers shopping in-store and online at dozens of food retailers.
Net Promoter Score (NPS) benchmarks are based on customer ratings of stores, products and services. Developed by Bain & Company, the tool is commonly used to assess consumer loyalty and other factors such as performance.
The new grocery-specific platform enables retailers to identify leaders within various market segments. According to Bain’s ideas, the regional grocer HEB is the global loyalty leader with the highest relationship score. In the warehouse club category, Costco got the highest NPS, while Aldi ranked # 1 for discounters and Amazon # 1 for online merchants that sell products from the warehouse. grocery store.
Using this business metric, grocers can determine their own score against their competition and identify experiences that resonate among shoppers. Information is also available on other places customers do business and why.
“The grocery store has been one of the sectors most affected by the COVID-19 pandemic,” said Jason Barro, partner of Bain & Company and founder of NPS Prism.. “Consumer habits have changed rapidly, accelerating some existing trends and redefining customer expectations. Loyalty in this industry is crucial – Deeper relationships mean customers who spend more in-store and refer others to the chain in a favorable manner. NPS Prism is an essential benchmarking service for grocers to understand how they stack up against their competition in the specific situations that matter most to their customers. “
In addition to measuring buyer perceptions and loyalty, the NPS Prism platform reveals other issues impacting grocers’ businesses. Labor shortages and high shoppers’ expectations of the in-store experience are among the top issues right now. The latest data from Bain & Company shows that customers want friendly, knowledgeable staff and will give grocers low marks if they come across associates they find unfriendly or unhelpful.
With approximately 400 stores in Texas and Mexico, San Antonio-based HEB is # 13 on the PG 100, Progressive Grocer’s 2021 list of the best food and consumables retailers in North America. Costco, based in Issaquah, Wash., Is No. 4, Aldi US, based in Batavia, Ill., Is No. 24, and Amazon, based in Seattle, is No. 2 on PG’s list. .