INSIGHT / BELIEF
Saving cost as a company helps save cost as a customer.
How to prove cost-conscious beliefs as a brand.
Save cost by removing coin locks from shopping carts, point this out on the carts.
- Cost reduction
- Brand attribution
Colruyt is a no-frills supermarket chain in Belgium that takes great pride in being responsible about cost. Because -as they argue- if they can save on cost as a company, that will lower their overhead costs and will allow them to offer products at a lower price than their competitors.
Colruyt is not only remarkable well in doing this – their prices are indeed lower than many of their competitors, but they are also doing a great job in communicating this to their customers. They use smart and easy to remember stories worth sharing like the one with the coin locks on their shopping carts.
We don’t have a coin lock on this shopping cart, which helps us save €14,- per cart.
Yet again, less cost … you will notice the difference on your shopping receipt.
The premise is really easy – by removing the coin locks they save money. This money can be used to lower prices. You, as a customer benefit from these lower prices. To what extent saving €14,- really makes a difference on a daily basis is arguable. Shopping carts typically cost between €75 and €150. Not having a lock probably increases lost shopping carts a tidbit. So although cost reduction might not be massive, especially over a longer period of time, it is a story that is very easy to understand and share.