It’s that time again: the exciting transition of embrarking on the unknowns of a new year while one reflects on the accomplishments of the past 12 months.
With competition in the grocery space becoming more fierce than ever before, retailers will be duking it out over how best to deliver on shopper need states. Stores are going to be reconfigured, new services created.
From home delivery and meal kits to prepared foods and in store experiences, grocers will be focused on innovating the best means to the shopper’s end. Mergers and alliances will be less about expanding market share and more about leveraging complementary competencies to better bring consumers what they want, how they want it.
The largest traditional grocers and the industry’s usual pacesetter will be looking more concertedly at the expansion of private labels, meal kits, digital, home delivery, new stores, price cuts, new sustainability initiatives, and courting of local suppliers. They will be relying increasingly on investments in insights to make their customer-first elements faster and more aggressive.
As a new year looms ahead, grocery retail has a responsibility to offer potential products and services that aligns with its customers’ goals. It’s a surefire way to build trust with your shoppers that will last, regardless of whether the New Year’s resolutions are achieved.