Kroger banks on burgeoning sources of revenue
The Kroger Co. is looking to alternative profit streams to help reach its goal of $400 million in operating profit by 2020 under the Restock Kroger initiative, executives said at the company’s annual investor conference.
“We have incredible assets, including a large audience, 9.5 million customers shopping us every day. And if you include our pharmacies and our fuel stations, we're at 11 million transactions a day. Think about that. Let's pretend you have a TV show and every night you get 11 million people watching your TV show, you think you could sell some advertising? So do we,” said Stuart Aitken, group vice president at Kroger and CEO of the company’s 84.51° data and analytics unit.
Kroger has behavioral data on 60 million households, and 96% of all transactions are tied to the retailer’s Plus Card, which Aitken called “the most robust data set in the industry.”