Food Retailers: Know This Before Investing in a Grocerant
Competition continues to eat away at grocers. With the dawn of the new European discounters, online shopping, meal kit delivery and a general disdain for eating at home, there’s a lot to content with. Small wonder grocers’ market share is down 15% over the last decade. Phil Lempert, the self-styled Supermarket Guru, says the key […]
The Rise of the Grocery CX Officer & Implications for the Industry
Frustration in aisle 7? A recent CB4 survey of more than 1,000 U.S. grocery shoppers found that when these consumers can’t find an item they want, more than half will ask a sales associate. But nearly as many shoppers (49%) admit they’ve headed to a local competitor instead. In recent years, the retail industry has […]
The High Cost of Grocery Store Shrink, and What to do About It
Shrinkage in retail comes in many forms; thefts, markdowns, and human error all eat into profits. Grocers, however, put out a full-scale buffet, when the perishability of products is taken into account. Historically, grocers have some of the lowest margins at 2.5%. Those low margins are colliding head-on with a massive shift in consumer taste […]
Naming a Product “Corn Knuckles” and Other Private Label Pitfalls
Private label goods are now standard retail practice, especially in grocery. If executed well, a private label brand can drive growth in volume and in margins. By utilizing in-house brands, you essentially scoot your business down one spot on the value-chain, connecting directly with manufacturers and producers. In so doing, you leverage economies of scale […]
6 Ways to Improve Grocery Store Profit Margins with Technology
Raising prices used to be the go-to strategy for retailers looking to widen their grocery store profit margins, but this practice is no longer sustainable in today’s retail landscape. With players like Walmart, Aldi, and Lidl constantly offering bargain basement deals, other grocery stores risk losing their customers if they can’t match the prices of […]
The Future of Grocery Technology: Level Up or Get Left Behind
Business is awash in digital acronyms these days and the grocery industry is no different. AI, AR, VR, ML, DL – or make that artificial intelligence, augmented reality, virtual reality, machine learning and deep learning, to name but a few. The digital age has more than arrived – it’s taken over. But what does all […]
How Grocery Store Operations Teams Lead Customer Experience
The customer experience makes or breaks a brick-and-mortar retail experience — and this is especially true for grocery retailers. Grocery store operations teams, with their intricate understanding of customer needs throughout their stores, are best poised to deliver elevated customer experiences that exceed expectations and surpass the competition. With cutting-edge machine learning tools and artificial […]
How Kroger is Staying On Top of Grocery Store Technology Trends
When it comes to grocery store technology trends, the Kroger Company is in a bit of an unusual but exciting position at the moment. Kroger is the second largest retailer in the United States behind Walmart, and the top grocery chain nationwide. While competitors like Amazon and Walmart seek to seize market share by expanding […]
What You Need to Know About Grocery Store Technology
The retail industry continues to invest in technology to create a more seamless shopping experience especially in this world of omnichannel. Increasingly, methods to pick up groceries have been simplified, especially with the invention of online shopping, but it’s not just Amazon offering the services. Grocers are making investments in technology to allow customers to […]
