Loop Neighborhood Markets CEO Outlines Areas of Focus
TUCSON, Ariz. — Headquartered in the Silicon Valley region of California, Loop Neighborhood Markets has the benefit of having a front-row seat to many technology innovations.
As chairman of the Conexxus board of directors, Varish Goyal, president and CEO of Vintners Distributors and Loop Neighborhood Markets, is all-in on retail technology. At the organization's 2024 conference, he talked about the initiatives the retail operator tried but didn't work. Now, taking the stage at the 2025 Conexxus Annual Conference, he talked about what Loop Neighborhood Markets is focused on: meeting its shoppers needs, improving operational efficiency and driving business growth.
So what does Loop Neighborhood Markets want to improve? Goyal ticked off five areas.
1. Shopper Loyalty & Retention
The Fremont, Calif.-based company wants to understand why shoppers come to its stores, why they go to its competitors and how Loop Neighborhood Markets can keep them coming back more frequently.
Currently, the retailer counts 1 million activations in its loyalty program. Looking at basket size, the average transaction size among loyal shoppers is $11.03; however, among nonloyal shoppers it is only $4.86. The goal, according to Goyal, is to move that nonloyal shopper to a loyal shopper and increase their number of visits.
"We're focused on improving our local offer and we are trying to get more personal in the way we communicate with our consumer," he said.
2. Inventory Management
At Loop Neighborhood Markets, the challenge has been optimizing inventory levels to ensure availability without overstocking and minimizing waste. To that end, the retailer is focused on improving existing inventory management and demand forecasting — what products are popular at different times and locations to prevent out of stocks and reduce excess inventory.
An important lesson the retailer has learned: "Just because we have a product in inventory doesn't mean it is on the shelf," he noted.
3. Operational Efficiencies
According to the chief executive, the challenge is streamlining operations to reduce costs and improve speed of service. In this space, Loop Neighborhood Markets is exploring solutions like automated systems for checkout, restocking and service requirements.
4. Customer Experience Enhancement
"At the end of the day, in retail we all sell the same stuff. How do you differentiate? The customer experience," Goyal posited. That's where technology comes into play. The retailer is exploring on in-store technology like self-service kiosks and checkout, mobile payment options and improving the physical layout of the stores.
5. Security Improvements & Shrink Reduction
According to Goyal, security really means the safety of the retailer's employees. Whether that its smart surveillance systems or anti-theft technologies or employee training programs, Loop Neighborhood Markets wants to make sure its employees have a safe working environment.
The 2025 Conexxus Annual Conference is taking place Jan. 26-30 at Loews Ventana Canyon in Tucson.