Retail partnerships that pay – our customers’ success by numbers
Spoon Guru enables retailers to deliver a personalised and 100% accurate product discovery experience for their shoppers based on their dietary and lifestyle needs by intelligently harnessing complex data to extract meaningful insights and anticipating consumer trends. Spoon Guru’s solutions have contributed to growth in top-line revenue for our clients by significantly increasing conversion rates, basket size and customer lifetime value.
We understand that the biggest challenge for retailers is that consumer grocery budgets are finite and competition is stiff. Shoppers can only consume so much food in a given period of time so Retailers need to ensure that:
- Their shoppers continue to choose them as their preferred grocer to improve loyalty and control market share
- Their shoppers are given a diverse portfolio of product choices to meet their dietary and lifestyle requirements to improve conversion
- Their shoppers are served with intelligently curated product recommendations to increase basket size and average order value
We’ve analysed 12 months of data from our customers across the globe, and found valuable insights that can help you to improve your KPIs.
KPI: Improve Conversion Rate
- The conversion rate for customers using filters can be as high as 7 times the conversion for customers using no filters at all
- Conversion rate increases by 50% for shoppers adding a Smart Swap recommended products to their basket
KPI: Grow AOV & Basket Size
- Shoppers using Spoon Guru’s products spend as much as 41% more and add 44% more items per basket than customers that do not use any filters.
- Out of the loyalty segment, customers who use filters powered by Spoon Guru spend as much as double compared to customers using sites with no filters. Average Order Value is 10% higher for customers that swap for a healthier product than customers who don’t.
- Over 75% of healthier substitutions made remain in baskets and proceed to checkout.
We have seen the above KPIs from partners who have implemented all or some of our Product Discovery & Intelligent Curation Solutions. These solutions include, but are not limited to, TAGs® and Smart Swaps.
What are TAGs® & Smart Swaps
- TAGs® help shoppers to filter and search for grocery products based on their dietary requirements and lifestyle preferences by classifying multiple attributes like nutrients, ingredients, descriptions and product packaging statements.
- Smart Swaps curates healthier alternatives for each product within the category that the shopper is looking to buy to nudge them toward better eating habits and supporting their health goals.
- Vegan, Gluten Free and Vegetarian are the top searches consistently made over the past year. Spoon Guru’s TAGs® technology goes beyond the label and finds suitable products at an ingredient level, typically surfacing 4 – 5 times more vegan, gluten free and vegetarian products than those who rely solely on suitability statements from CPGs.
- Optimising your Customer Experience (CX) to promote awareness and encourage engagement with health & dietary features is key. Customers want your help to find food that suits their needs, and is healthier for them. We found that when customers are engaged with features such as Smart Swaps, they are more likely to check out and spend more per basket.
What other metrics are you capturing to optimise your e-commerce strategy?