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Waitrose: A Lifestyle Recipe for Loyalty

Verdict Research Ltd
May 16, 2011
27 Pages - SKU: VERA6385225

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Countries covered: United Kingdom

Introduction

Waitrose has reacted to the economic turmoil in the UK with a two-pronged strategy: launching a value range of staple groceries, while protecting its premium proposition by responding to the changing lifestyles of its core customers with a number of initiatives. This case study examines Waitrose's lifestyle alignment strategy and explains how it has successfully maintained high customer loyalty.

Features and benefits

Assess if Waitrose’s customers share any characteristics with your own and uncover some initiatives to bond with them based on their values.
Glean ideas for corporate social responsibility promotions by gaining insight into how Waitrose has developed its ethical and green credentials.
Display your company's food knowledge and expertise by seeing how Waitrose promotes a shared love of food and cooking with its customers.
If partnering with Waitrose, inform your business pitches and enhance your relationship by understanding more about its strategy.

Highlights

Waitrose's maintanance of it premium price positioning involves a strong focus on quality and freshness, and the promotion of the traceability of its products and its green and ethical credentials.

It has focused on bonding with its customers through a consistent digital media strategy, local charitable initiatives, and the communication of a shared love of cooking.

This success of this strategy of wider involvement with customers and alignment with their values was reflected in the results of Verdict's How Britain Shops 2011 survey where Waitrose outscored the big four UK grocery retailers in terms of customer loyalty.

Your key questions answered

Does Waitrose have a loyal customer base and how can premium grocers maintain customer loyalty in a downturn?
What type of initiatives has Waitrose embarked on in order to align itself with the values of its customers when it comes to their food preferences?
How does Waitrose communicate with customers and what is its approach to digital media?
How can a national grocer establish a more central role in the local community through its retail proposition?
What is Waitrose's overall proposition in terms of its target market, price positioning, stores, produce range and services?

INTRODUCTION: Summary
STRATEGY OVERVIEW: Waitrose has built a loyal following through quality and customer lifestyle alignment
STRATEGIC ACTION POINTS INSPIRED BY WAITROSE: Waitrose's strategy demonstrates initiatives that smaller up-market grocers should consider
DRIVERS BEHIND THE STRATEGY: Intensifying competition in the UK grocery market necessitates differentiation; Consumers regard local sourcing as an important factor in choosing grocery products; Demographic and lifestyle changes require grocers to adapt their offerings; The economic downturn has impacted the consumer mindset; Consumers are increasingly interested in cookery and celebrity chefs
STRATEGY IN FOCUS: Waitrose engages with customers through multiple media outlets; Waitrose bonds with its customers through ""the love of cooking""; Waitrose supports local communities; Waitrose offers catering services, linking its brand to special moments in customers' lives; Waitrose improves pricing image with the launch of a cheaper range and price-match move; Waitrose has a balanced portfolio of private labels; Waitrose collects customer insights from MyWaitrose members; Waitrose experiences particularly high loyalty despite footfall declining in 2010/11
RETAILER PROFILE: WAITROSE: Some basic facts about Waitrose
APPENDIX: Retail Innovations case studies; Methodology; Further reading; Global Retail FreeView; Ask the analyst; Verdict consulting; Disclaimer

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Waitrose: A Lifestyle Recipe for Loyalty

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