Snoop

Will 'Never Knowingly Undersold' reverse John Lewis & Partners Fortunes? ✅ #SpendMapper data shows John Lewis’ customer base has grown by 3% over the last 12 months, but that’s where the good news ends. ❌ Despite this growth, key spending metrics are declining: total spend (-8.7%), average spend per transaction (-8.1%), and customer frequency (-3.1%). While new customers are coming in, their spending behaviour is more conservative. ❌ The drop in repeat customers (-2.5%) and average customer spend (-11.0%) suggests potential challenges in retaining high-value customers or maintaining engagement. ❌ Although transaction numbers (-0.6%) and share of wallet (26%) remain relatively stable, declining loyalty and lower spending need immediate attention. The ‘Never Knowingly Undersold’ policy might help, but it looks like John Lewis & Partners will need an exceptional Christmas campaign to turn the tide. More insights from BBC News below 👇 Peter Ruis Catherine S. #AltData #Data #Retail #CustomerInsight #Christmas https://lnkd.in/djbn8rXQ

🎉 Thrilled to announce that Snoop has been shortlisted in two categories at the Open Banking Expo Awards 2024! It's fantastic to be recognised in both the Best App (for Snoop) and Best Use of Data (for #SpendMapper) categories alongside such innovative companies. Huge thanks to the entire Snoop team and congratulations to all the other finalists! See you at the awards ceremony in October 🏆 #OBExpo #OBExpoAwards2024 #OpenBanking

According to SpendMapper data, Waitrose & Partners is showing promising growth across several key metrics, underscoring the brand’s resilience and strategic positioning in the UK grocery market. Over the past 12 months, the number of customers has risen by 5.6%, contributing to a notable 16.5% increase in total spend. This growth appears to be driven by an increase in both customer frequency (+9.5%) and transaction volume (+15.7%) 🛒   Average customer spend has climbed by 10.3% to £307, reflecting enhanced customer engagement and satisfaction. The brand's retention remains robust, with 70.4% of customers returning, though there is still room to expand the share of wallet, currently at 8.3% 📈   In a bold move to capitalise on this momentum, Waitrose & Partners has announced a £1bn investment aimed at expanding its presence on the UK high street. This includes the introduction of 100 new convenience stores over the next five years and the addition of four larger branches. This expansion signals confidence in the brand's future, particularly in the fast-growing convenience sector.   What do you think, can Waitrose & Partners cut through in the highly competitive convenience market?   Read more here BBC News ➡️ https://lnkd.in/ggc3_FXP and give Lauren Ambrose a shout if you’d like to find out more about SpendMapper intelligence 👍   #Retail #RetailAnalysis #HighStreet #Data #Altdata

Recent research from the Institute for Fiscal Studies highlights how "cheapflation" during the UK cost of living crisis disproportionately impacted lower-income households. Budget foods saw price increases of up to 36%, compared to just 16% for more expensive options. This meant the poorest households paid 29.1% more for their groceries, deepening financial inequality as essentials took a larger share of their budgets.   At Vanquis Bank, we understand the unique financial challenges faced by people who are stretched but (just about) managing and remain committed to providing tools and support (like Snoop) that can help our customers better manage the cost of living.   Read more at #TheGuardian➡️ https://lnkd.in/e2nyNipB    #CostOfLivingCrisis #Inflation #FinancialInclusion

#ICYMI - you can vote for Snoop up until 20 August using the link below 🙏

42% of consumers tell us they have cut back their non-essential spending so far in 2024 and continue to take steps to manage their spend. ✂️🛒 Yet this savvy consumer is still choosing to spend in certain categories. Find out which in our latest Consumer Pulse Snapshot ➡️ http://spkl.io/60404hyEq Snoop #consumerpulse #consumerbehaviour #costofliving

Proudly part of the 2025 Fintech Pledge, Snoop is dedicated to helping UK consumers cut the cost of living and strengthen their financial resilience 💪 As such, we're delighted to share the 2025 Fintech Pledge has now achieved more than 15m actions towards its 25 million actions goal!🏅   The Pledge helps UK consumers strengthen their financial resilience by driving unprecedented cross-industry collaboration and connecting consumers to financial technology platforms that:   ➡ make savings work harder, ➡ improve credit scores, ➡ manage and consolidate debts, ➡ lower bills and household outgoing costs, and ➡ determine if they are entitled to benefits and financial aid.   More than 55 businesses have joined the campaign, with seven new companies coming on board this year.   This year, Zopa Bank, ClearScore and The Money Charity also brought on more lead partners, including Money and Pensions Service, Policy in Practice and StepChange Debt Charity to lead the bills, benefits, and debt pillars respectively 🚀   You can find out more about the 2025 Fintech Pledge ➡️ pledge2025.org 

We are delighted to announce that Snoop is sponsoring a table at the DevelopHER Awards, an incredible event dedicated to recognising and celebrating the achievements of women in the technology sector across East Anglia 👩💻 The DevelopHER Awards is a fantastic initiative founded by Vickie Allen, championing gender equality and promoting role models in tech. Since its inception in 2015, this event has grown significantly and continues to inspire the next generation of tech professionals 🏆 As we look forward to this year's ceremony, we are excited to celebrate the remarkable women who are driving innovation and excellence in technology. Their contributions are shaping the future of our industry, and we can't wait to honour their achievements 🙏 A huge thank you to Vickie Allen and the DevelopHER Awards team for their dedication to creating a more inclusive and diverse tech community. We are proud to support this important cause and look forward to a memorable evening of celebration and inspiration ✨ If you would like to nominate anyone for an award (either within Snoop or other talented people you know who would qualify) please can you do so here 👉 https://lnkd.in/gJPTAmh 👍 #DevelopHERAwards #WomenInTech #Snoop #CelebratingExcellence #TechInnovation

We’re delighted to announce that open banking can now count more than 10m active users, demonstrating the continuing appetite for open banking products and services. The milestone follows on from the Government’s commitment to introducing a Smart Data Bill, which will build on open banking’s success, expanding smart data schemes into other key economic sectors. Find out more >> https://lnkd.in/e8f65uqV #OpenBanking #OpenFinance #SmartData #MiData #TechInnovation #Fintech #SMEs Marion King | Henk Van Hulle | HM Treasury | TrueLayer | Francesco Simoneschi | Jack Wilson | Lord Iain McNicol | Monzo Bank | Phillip Mind FDATA Global | Ghela Boskovich | Alvarez & Marsal | Ezechi Britton MBE | Andy Sacre | Adam Jackson | Anna Harvey | Innovate Finance Centre for Finance, Innovation and Technology (CFIT)

It's been a year since the Financial Conduct Authority's (FCA) Consumer Duty took effect for open products and services, and another deadline is on the horizon. By July 31, 2024, FCA-regulated companies must review all closed products and services against the Duty's requirements. The FCA emphasises #data as a crucial element in demonstrating compliance. They encourage firms to utilise new data sources to create comprehensive measures that assess: ✅ Consumer outcomes alongside process outcomes; ✅ Vulnerable customer outcomes on par with non-vulnerable customers; and ✅ Proactive improvements based on outcome monitoring. Snoop's Datasets can be your new data source for meeting Consumer Duty requirements, demonstrate compliance to regulators, and improve consumer outcomes. Interested in learning more? Connect with Lauren Ambrose (lauren@snoop.app) 👍 #OpenBanking #Banking #Insurance #AssetManagement #ConsumerDuty #Compliance #Regulation #AltData