Food retail is undergoing a change. This changing nature is evident if one takes an expansive view of the food retailing universe. Apart from the industryleading retailers, shoppers can today purchase food and consumables from a growing number of choices. Those choices extend to many types of retailers, beyond traditional grocers.
In the context of the changing food retail landscape, the traditional definition of “grocer”, which was previously based on store size and core product offering, is no longer the primary consideration. Instead, the important thing is what constitutes the key element of the value proposition of food retailing companies.
This state of competition has led some smaller retailers to embrace the advantages that the large retailers exploited when they were small. Smaller retailers are not only able to avoid the regulatory complexity, they are able to further level the playing field by deploying affordable retail technology solutions, which give them access to the same powerful capabilities as larger
What’s relevant to shoppers are retailers that appeal to lifestyles and sensibilities that are very different from decades ago, when the distinctions between classes of trade were clearer. It’s all very blurry today, with food and consumable products sold seemingly everywhere, by all types of retailers and innovative start-ups with new physical and digital approaches. The changing nature of competition in the food and consumables industry is fascinating, tumultuous, unpredictable and filled with unrelenting competition.