Enjoyed this recent post from McKinsey’s David Edelman, You Need Your “WOW”. Across the spectrum, consumers are overwhelmed with information and underwhelmed with product and service. Got it.
No industry is more in need of a “WOW” moment than Consumer Packaged Goods (“Coupon Fatigue? Calling All Digital Grocery Burnouts!”). A massive “new market-like disruption” is the only answer – meaning, consumers must get something they never dreamed they’d ever get. And it can’t be a one-off event – like winning a sweepstakes (or a random “we remembered your birthday event”) – consumers are onto that trick and only the gamers are playing.
The game changer only changes the game if it comes into play every purchase, every trip, for the average consumer. Not such an easy task when your shoppers number in the millions, shop weekly and your product is one of 25 products in the basket (out of a possible 20,000 in the store) when they do. Grocery is indeed a unique challenge.
If you know it – comment below. What makes Grocery a uniquely challenging place to innovate?