Key strategies
Offer alternative value: balance low prices with demand for other value-adds, including convenience and just-in-time delivery.
Be transparent about price increases: maintain open communication with customers and offset rises wherever possible.
Actively address loss prevention: focus on technological advances and employee training to minimise shrinkage.
Maximise loyalty programmes: boost engagement with rewards that can help gather valuable customer data.
Teach consumers how to reduce costs: help consumers cut costs through guidance on reducing waste, and by supporting a circular economy.
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