How you can finish first in bringing brands to basket
With a nudge from a global pandemic, ecommerce across consumer product categories continues to balloon as witnessed by promising recent earnings and updates from Walmart and Target. Grocery in particular continues to burgeon, with overall spending in July up 18% versus last year, and online grocery up 170% versus last year1. Shoppable content placed across Pinterest, Facebook, Instagram stories, Snapchat, Youtube, and other web properties has developed into one of the most important tools in the ecomm tool belt. The playbook has become pretty clear:
- Step 1, create engaging content
- Step 2, precision traffic to your audiences
- Step 3, grease the tracks with a path to cart
In the ecomm game of chutes and ladders, getting your consumer to use the best ladder is a significant accelerator in the quest to the finish line (the cart). It would be easy to just grab any old ladder, but who is climbing it, how that ladder is built, and where it goes all matter. As you evaluate your online path to cart, these are key considerations to keep in mind.
The Who: Millennials as a model
While Boomers and Generation X are also doing their part to power online grocery, it’s difficult to ignore Millennials as a driving and influential force. Their behaviors represent a microcosm of digital grocery considerations that transfer more broadly.
During the pandemic, 75% of millennials have taken advantage of e-commerce2. Millennials over-index with online grocery compared to other generations, with 40% of their grocery spend occurring online3. Within Basketful-powered campaigns Millennials are 1.5 times more likely than other generations to convert from initial impression to carting a basket—further illustrating their comfort with the digital path to cart.
But even with Millenials, 60% of their dollars are still spent in-store3. This shows the importance of a digital campaign that creates not just a path to a digital cart, but has portability into a brick & mortar environment. Retailer hopping also happens to be highest for millennials—80% shop at two or more grocers weekly, and 44% shop at three or more4. The biggest motivators of multi-retailer behavior? Price (60% quote it as a main driver), Quality (41%), and Availability (33%)4.
The behaviors that millennials dramatically showcase provide a perfect window into the major themes playing out across all online grocery shoppers:
- Bi-Modal: Even comfortable online shoppers hop between online & in-store
- Multi-retailer grocery habits are overwhelmingly the norm
- Price, Quality, and Availability are core to carting decisions
The How: Low friction & high fidelity
The themes above are critical in how your ladder to cart is designed. Missing or underperforming on one of these is akin to skipping a rung on the ladder….yeah, it still might work, but you’re either adding friction to the experience, letting them fall off, or both.
A shoppable ad is an immersive impression. You have the opportunity to tell your brand’s story and bring the digital shelf right to them. Depending on where they are at, they may be inspired to buy the item off the shelf, or they may want to remember it for later to purchase alongside their other needs. A superior experience connects brands to basket–whether now or later— and simplifies planning and shopping for the consumer. Basketful presents a low friction path to cart and a way to save for later—crucial for bridging inspiration & routines as well as online & in-store trips.
A simple yet high fidelity experience is critical, and crucial to powering that is timely product availability and pricing. Basketful’s path to cart unlocks sophisticated product availability and matching, ensuring only the stores that carry your product are shown. Our tight integration with store level product distribution and stock status is unmatched, maximizing brand fidelity through the experience.
The Where: Retailer Choice + Brand Protection
The destination of the ladder is obvious: to the cart. But which retailers’ cart? And with what products? Your investment is for naught if your path to cart ends up being a chute rather than a ladder. That could be a dead end to a retailer that doesn’t carry your product, or worse–serving up your competitors product instead of yours.
Local retailers matter. If the consumer routinely shops retailer B, and only retailer A is available, convenience and conversion are severely limited. A shoppable experience that gives the consumer choice in which local retailer they can checkout your brand is ideal. Nearly 1 in 3 US shoppers frequent 3 or more retailers, so coverage matters5. Basketful is integrated with 50+ major retailers unlocking 14,000+ online grocery stores covering 98% of the US population. In fact, 94% of the US population has 2 or more local online grocers, 85% with 3 or more, and well over half of the population has 6 or more6. Giving the consumer as many local retailer options as possible, has much higher utility.
Last, protecting brand fidelity is crucial. Your brand should be the focus through the entire funnel, and not inadvertently swapped for a competitor when yours happens to not be available at the local store. Basketful’s brand curation guarantees your brand fidelity throughout the conversion process.
Basketful simplifies grocery shopping. We create a smarter path to cart from Pinterest, Instagram, Facebook, Snapchat, or wherever your media is trafficked. Our shoppable links are location, distribution, and inventory aware across 50+ retailers and 14,000+ stores. Our coverage spans Food, Beverage, Alcohol, Health & Beauty, Baby, Household and Pet brands.
1 BofA Global Research, Food Retailers report, August 13, 2020
2 Multi-Channel Merchant, July 2020
3 Online Grocery Pickup Accelerates Omnichannel Sales, Acosta, Winter 2019
4 Acosta, Trip Drivers Report, Fall 2017
5 Basketful, National Survey of Smart Phone using Grocery Shopper, December 2019
6 Basketful, Full distribution grocery store locations via 50+ US Grocery Retailers, April 2020