Today, dunnhumby has unveiled its latest innovation: the Competitive Threat Evaluator, a groundbreaking tool designed to swiftly assess the intensity and characteristics of retail competitors. This web-based solution integrates geo-location insights from Placer.ai, encompassing cross-shopping behaviors, proximity to competitors, and competitive density within trade areas, with dunnhumby’s annual Retailer Preference Index (RPI). This comprehensive dataset encompasses customer perceptions regarding pricing, promotions, assortment, and in-store and online experiences.
Matt O’Grady, President of the Americas at dunnhumby, noted, “Grocery retailers manage numerous stores across diverse landscapes. Until now, no single dataset offered a holistic view of competitive intensity and nature.” The Competitive Threat Evaluator addresses this gap, empowering retailers with critical shopper insights to effectively navigate competitive landscapes.
Key Features of the Competitive Threat Evaluator include:
Identifying Top Competitive Threats: Enables retailers to pinpoint their most significant competitors, both in the short and long term. Analyzing Store-Specific Threats: Assesses which stores face the greatest competitive pressures and from which specific competitors. Understanding Competitive Dynamics: Evaluates competitors based on strengths in price, promotions, assortment, in-store experience, online capabilities, and more.
This tool empowers retailers to prioritize strategic decisions, such as banner strategies, pricing adjustments, and store expansions, based on localized competitive insights. It aids in optimizing resource allocation across store networks and enhances decision-making for new market entries.
Benefits Across Business Units:
- Strategy and Insights: Guides banner-level strategies and regional growth priorities.
- Store Operations: Assists in store prioritization for enhancements in shopping speed, convenience, and digital offerings.
- Marketing: Supports targeted marketing campaigns and messaging strategies.
- Assortment and Pricing: Recommends assortment improvements and competitive pricing strategies.
The Competitive Threat Evaluator features user-friendly dashboards that offer insights at both banner and store levels, as well as threat maps for visualizing competitive dynamics. Early access to this tool is now available to grocery retailers, with plans for broader availability across retail sectors in the near future. For further details or to schedule a demonstration, visit dunnhumby’s Competitive Threat Evaluator page.
