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Viewing report
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Waitrose: A Lifestyle Recipe for Loyalty
Verdict Research Limited, May 2011, Pages: 27
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?
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