Thursday, May 24, 2012

4 Food Industry Trends Shaping How Grocers Do Business

food-industry-trends | Flickr	Photo courtesy of	 Bruce A Stockwell	http://www.flickr.com/photos/bas68/4781650428/sizes/s/in/photostream/Technology and online-shopping experiences are greatly changing the way grocers do business, new research from the Food Marketing Institute?s 2012 U.S. Grocery Shopper study suggests.

The research, unveiled at the Food Retail Show in Dallas, could be summed up in four key areas, according to an article at My Private Brand?s website.

  1. Seeking values is hot: Spurred on by the recession, more people are seeking out deals. But even those not directly affected by the economic downturn got caught up in the trend. And so value seeking is now a way of life for the American consumer.
  2. Technology is part of the grocery-shopping experience: More than half of consumers use technology before or during a grocery outing, usually to find deals. So more and more people are turning to digital coupons delivered straight to their smartphone to make the bargain shopping process even easier.
  3. Online grocery shopping is picking up: Researchers note that as digital natives ? those who have been immersed in technology since their youngest days ? grow up, more and more people will embrace shopping for groceries online.
  4. Retailers are embracing new store formats: Consumers are looking for the ?wow factor? and retailers have to deliver it. Whether it?s with innovative displays or ?store-within-a-store? concepts, retailers have to give their consumers a reason to shop there. The online experience has shaped the way that retailers merchandise their stores. They have to do it right because, unlike online stores, it can be expensive to repeatedly redo in-store displays.

Source: My Private Brand, May 2012

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