We analyzed 1 billion transactions and 1,700+ consumer survey responses, uncovering five key trends shaping today’s shopping behavior ⬇️ Together, those five trends add up to the rise of the “uncommitted customer” — a value-driven, digitally savvy shopper who doesn’t mind visiting multiple stores and formats to get what they need. Get the full report here: https://lnkd.in/g8ScrQsj
About us
Upside is a technology company that increases the financial power of people and businesses in the real world. Since 2016, we’ve helped millions of people get more purchasing power on the things they need, and tens of thousands of brick and mortar businesses earn measurable profit – all while contributing to important sustainability initiatives.
- Website
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http://www.upside.com
External link for Upside
- Industry
- Retail
- Company size
- 201-500 employees
- Headquarters
- Washington, District of Columbia
- Type
- Privately Held
- Specialties
- Personalization, Data Analytics, Mobile Apps, Digital Marketing, Retail Tech, and Fintech
Locations
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Primary
1701 Rhode Island Ave NW
Washington, District of Columbia 20036, US
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11921 N Mopac Expy
Austin, Texas 78759, US
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330 N Wabash Ave
Chicago, Illinois 60611, US
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7 W 18th St
New York, NY 10011, US
Employees at Upside
Updates
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You might have already seen it on The Today Show: The inaugural Consumer Spend Report analyzes 1 billion transitions and thousands of consumer survey responses to understand what’s shaping the way we shop. The biggest surprise? The rapid rise of the “uncommitted customer.” Whether you call them “infrequent,” “irregular,” “occasional,” or “secondary,” these customers shop around for the things they need and are uncommitted to one retailer or brand. And they’re not rare. In fact, the uncommitted customer is most of us. They’re challenging to win, but they also present a huge opportunity for retailers’ growth. Get the full report: https://hubs.li/Q02NnZsM0
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What do you need to help make your revenue teams as efficient as possible? Empathy. At least that’s what Alla Bliskovsky does as an Upside Revenue Enablement Manager! Read our whole interview with her (including her shoutout to colleague Pantea Farhi Stevenson!) here: https://hubs.li/Q02Ncd4K0 #salesenablement #revenueenablement
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📺 Did you catch us on the NBC News Today Show? Upside’s Thomas Weinandy sat down with Vicky Nguyen to talk about our latest research on consumer spending and the rise of the “uncommitted customer.” https://lnkd.in/gZyPusQj
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When it comes to building #customerloyalty in grocery, what are you doing that's different? Your loyalty program + Upside makes it so customers don't have to shop around for the value they need, and you earn more share of wallet.
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Earn up to 2.2x the visits from your loyalty members when you layer Upside with your loyalty program. But how? It’s all here: https://bit.ly/3M6va6v
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In case you missed it, Thomas Weinandy shared his thoughts on the latest inflation numbers last week ⬇
PhD Research Economist @Upside | Retail Speaker (Gas, Restaurant, Grocery) | Former Data Scientist (Python, Azure, Power BI)
As announced this morning, year-over-year inflation is at 2.9% and trending down! So why aren't consumers celebrating? The grocery news publisher, Progressive Grocer, asked me that very question. “It’s less about inflation dropping from 3% to 2% and more about consumers needing more time for the painful memory of high inflation to fade. It’s been over two years since inflation peaked at 9%, but it will take more time until consumer behavior catches up to the good news.” With the help of my Upside colleague Geoff Laporte, we have found that customers across all retail categories still are exhibiting deal-seeking and cross-shopping behaviors. For now, stable prices simply aren't enough to win over pessimistic customers. https://lnkd.in/excgfMW6 #grocery #inflation
Reading the Inflation Tea Leaves
progressivegrocer.com
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Upside’s Tyler Renaghan recently authored an article in Store Brands about the rise of private label brands and what that means for regional and independent grocers. 💡 He also has some ideas for how those grocers can still compete on value without sacrificing margins. More here: https://bit.ly/3SRfgjW
High-Value Private Labels A Threat To Regional, Independent Grocers
storebrands.com
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🎉 Good news came yesterday with July’s Consumer Price Index report: All-item inflation is now under 3% — the lowest level since March 2021. The clear decline in prices toward the 2% target makes it more likely the Federal Reserve will soon cut interest rates for the first time since rates increased in March 2022. That said, Upside data shows persisting cross-shopping behavior, even for grocery and gasoline with below-average inflation. This means retailers have to do more than just hold prices steady in order to win over today’s uncommitted consumer. (Watch for our full report on this, coming soon!) Here are the numbers: Month-over-month changes: 📈 Total inflation: 0.2% ⛽ Gas (all types): 0.0% 🛒 Food at home: 0.1% 🍔 Food away from home: 0.2% Year-over-year changes 📈 Total inflation: 2.9% ⛽ Gas (all types): -2.2% 🛒 Food at home: 1.1% 🍔 Food away from home: 4.1% Thomas Weinandy shared more thoughts here: https://bit.ly/3X4Jv9L
Reading the Inflation Tea Leaves
progressivegrocer.com