|By Business Wire||
|January 12, 2014 09:00 AM EST||
Monoprix, one of France’s leading retailers, today presented the outcomes of its extended efforts to be more customer-centric. Monoprix CEO Stéphane Maquaire shared the results of the company’s five-year partnership with dunnhumby, the world’s leading customer science company, at the National Retail Federation’s (NRF) BIG Show.
Since 2009, Monoprix has worked with dunnhumby to put the customer at the center of every business decision. This includes specific programs to better understand customers and to serve their wants and needs across Monoprix’s portfolio of 500 stores. Gaining a better understanding of Monoprix customers through shopping habits, price sensitivity, and lifestyles has been the starting point of the collaboration.
Along with dunnhumby France COO Emmanuel Déchelette, Maquaire revealed that Monoprix has learned that rewarding loyal customers results in the greatest profits. The partnership also confirmed that offering free home delivery could be profitable, with Monoprix earning more than €6 million in additional margin on an annual basis by providing the service.
Further results shared at the NRF BIG Show include the outcomes of Monoprix’s customer pricing strategy, findings on price elasticity for price sensitive customers, and details of how Monoprix has maximized returns on its personalized communications with 600,000 customers every month.
“Monoprix has invested five years in learning how to serve its customers better,” said Mr. Maquaire. “Our partnership with dunnhumby has showed us that investment in long-term initiatives yields more revenue than trying to achieve short-term gains. We think attendees at the NRF’s BIG Show will be very interested in seeing how Monoprix has applied data-driven customer insights to create long-term value and larger profits.”
“Using transactional sales data to drive business decisions is nothing new,” said Déchelette. “But it is a common practice that often leads to short-term gains at the expense of long-term benefits. The results of our work with Monoprix that we are sharing will be compelling to any retailer focused on bigger profits that last far longer than a few months.”
The National Retail Federation expects more than 27,500 attendees at the four-day BIG Show at the Jacob K. Javits Convention Center in New York. The annual conference and expo attracts the world’s top retailers, introducing the latest in retail innovation and trends that are transforming the industry. In addition to Monoprix and dunnhumby, other influential presenters at this year’s BIG Show include Jack Dorsey, co-founder and Chairman of Twitter and CEO of Square; Terry J. Lundgren, Chairman, President and CEO of Macy’s, and Nordstrom President Blake W. Nordstrom.
About dunnhumby ltd.
dunnhumby is the world’s leading customer science company. We analyse data and apply new insights from more than 400 million customers across the globe to create better customer experiences and build loyalty. Our insights and strategic process help clients create competitive advantage and enjoy sustained growth. dunnhumby employs more than 2,200 employees in offices throughout Europe, Asia and the Americas, and serves a prestigious list of companies including Tesco, The Kroger Co., Coca-Cola, Macy’s, Procter & Gamble, and PepsiCo. Please visit us at www.dunnhumby.com.
Monoprix is one of the French major city center retailers. Its six store brands are located in more than 200 cities in France. Monoprix is a Casino Group subsidiary company. It has over 500 stores and 21,000 employees. Its turnover amounts to more than €4 billion.