The proposed merger of supermarket giants Asda and Sainsbury is drawing a lot of attention. In fact, it is being hailed as one of the new “forces of UK retail”. Despite the positive outcomes of this potential merger, one key factor is being overlooked by many: Amazon.
Amazon recently launched its online grocery delivery service. Already known for its speed, convenience and ease of use, Amazon’s new service will likely cause more shoppers to flock to ecommerce for their weekly shopping needs. To keep up with Amazon and stay ahead, traditional supermarkets have to innovate to retain a competitive edge.
In the case of Sainsbury’s and Asla, the question is: how two very different brands can keep their customers at the heart of the shopping experience and compete with ecommerce giants like Amazon. Experts say, out of the UK chains, Sainsbury’s has led the way in adopting and embracing a highly consumer-centric approach. Likewise, Asda has successfully adopted the strategy of driving costs down and passing price benefits on to customers.
So, what is the secret to retaining a competitive edge today, without instantly jumping to slashing costs? The key is to understand customer triggers, use insights and big data. Success lies in gaining a deeper understanding of customer demands and mining data across the wave of digital channels. This is how you can ensure your business delivers a personalised experience.
Industry experts say that the merger of Asda and Sainsbury’s is big news for the retail sector. However, they also say it’s important to not become fixated on whether having one fewer supermarket brand leads to less consumer choice. It does mean new opportunities to offer customers a personalised experience, they say.
High Risk Merchant Account
One way your business can offer a more personalised experience is through improving your payment processing options. If you have struggled to find the right merchant services for your business, consider a high-risk merchant account. You can easily setup an account in as little as 24 hours. High risk merchant accounts are ideal for businesses with bad or no credit, high chargeback rates, past bankruptcy, etc. Make sure your customers have the most modern, seamless payment processing options available.
Author Bio: Payment industry expert Taylor Cole is a passionate merchant account expert who understands the complicated world of accepting credit and debit cards at your business. His understanding of the industry has helped thousands of business owners save money and time.