How Food Retailers Use It in The Future Will Determine Success or Failure
The grocery industry is changing dramatically. Many grocers and other traditional food retailers have seen their revenue shrink by 29% since 1991. That’s $310 billion in lost annual revenue.
Why? Societal changes are driving consumers to look to new food shopping and preparation options. With Amazon buying Whole Foods and slashing prices on many items, and home-delivery meal kits gaining popularity, retailers need to take action. To remain competitive, intelligent assortment and space decisions need to be made that reflect how shoppers value their time and options.
In our latest research, we dig deep into what shoppers value most. We also identify which categories will shift to e-commerce first and fastest and explore the role of meal kits as a complement to prepared foods.
In this study commissioned by Precima, IDC Retail Insights surveyed 200 food retailers and 3,000 shoppers to understand their behaviors and preferences. We uncovered the current state of food retailing and optimal strategies for growth to make sure traditional food retailers continue to compete and grow.
Learn more in our comprehensive report, The Grocery Store is an Asset: How Food Retailers Use It in the Future Will Determine Success or Failure.