Richard Siddle: Are you keeping up with the power of the consumer?

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So where did you buy your last bottle of wine? With your groceries at the nearest supermarket? From your friendly local wine merchant? Or do you get a case delivered once a month?

 

The way consumers are able to get hold of their favourite tipple multiplies seemingly every month.
Take this week and Tesco’s new Co-buy Collection scheme where you can effectively team up with fellow random shoppers to collectively drive the price of a case of wine down. People power indeed.

 

Essentially it is a piece of clever crowd sourcing whereby Tesco is encouraging you to use your social media contacts to bid for a case of wine. The more that do, the lower the cost of the wine.

 

It is just the latest example of how retailers and businesses are looking to cash in on the super powerful, technology-driven consumer.

 

At a time when shoppers have never been more pressed for cash, or more aware of every penny they spend, they have never had so much power where and how they shop. Their computer has become their supermarket, their smartphone the equivalent of a convenience store. Ready and able to compare prices and switch from store to store.

 

There are now whole sections of the population, across most economic groups, who will not buy anything unless it comes with some sort of online voucher. There are sites, like Shopow, dedicated, to shoppers looking to exchange voucher codes and inform each other where the best deals are.

 

Tesco is using wine to test its co-buy crowd-sourcing concept. If it is successful it could stretch to other grocery areas. Imagine the impact that could have on how the nation shops? But also the knock-on effect it will have on how suppliers and retailers work together and negotiate a price that is ultimately in the hands of the shopper.

 

It’s retailing but not as we currently know it.

 

 

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