May 16, 2022 | GroceryGeniuses Blog

Weekly Snapshot of top trends in the Grocery Industry

GroceryGeniuses May 16, 2022

This is the weekly snapshot of top trends from the Grocery industry (22 April-29 April.) AI & Robotics: McKinsey conducted a survey of European shoppers and revealed that most respondents plan to use online grocery services almost as frequently as they did in 2021. Store of the Future: A recent survey revealed that 2/3 of grocery businesses have quantified their baseline efforts and defined concrete actions to march towards sustainability efforts, and 50% have defined definite targets. Online Grocery: Grocery businesses often struggle to choose the right pricing strategy for their eCommerce business. Digital grocers choose from two main pricing strategies: offset pricing structure and up-front pricing structure. Consumer Trends: Heinen’s has launched a health clinic, the Personalized Nutrition Center, inside one of its retail outlets. The grocer is advancing digital technology and health to offer holistic services to consumers. Digital Supply Chain: Cate Trotter detailed that convenience and delivery speed are pushing delivery platforms to opt for ultra-fast delivery models in the US. She added that these hyper-fast delivery services would raise the customer expectations bar.

Jokr rolls out its own media platform called Jokr Media

GroceryGeniuses May 16, 2022

Many ultra-fast delivery platforms continue diversifying their business models to generate various revenue streams and manage costs. Recently, Jokr, an ultra-fast delivery platform operating in the US, has launched Jokr Media. The delivery firm made this move to strengthen the firm’s profit margins and grow sales of CPG products. Jokr Media will allow business partners to grab more personalised and relevant product placements in its app. Jokr offers marketing and promotion services that include in-app banners, sponsorships, and sampling. The retail media platform is currently available in America and some parts of Latin America, including Colombia, Mexico, Peru, Chile, and Brazil. To read more, visit GroceryDive

An overview of Amazon’s retail path and e-commerce footprints

GroceryGeniuses May 16, 2022

Amazon continues to excel in offering retail space, e-commerce, delivery, supply chain and logistics services. The retail strategy of the tech giant remains an enigma for fellow retailers. This year, Amazon has shut 68 of its physical stores, giving up its Books, 4-star and Pop-Up concepts. It is now focusing on the Whole Foods Market, Amazon Fresh, Amazon Go or Amazon Style stores, powered by its cashier-less Just Walk Out technology. Amazon is gearing up to sell clothes, accessories, and footwear in a 30,000-square-foot facility. As per research firm Numerator, Amazon’s share of CPG sales grew from 2.4% to 3.6% over the previous year. Data firm PYMNTS revealed that Amazon set a new record by capturing 56.7% of US online retail purchases in 2021. After overcoming a few failures, the firm thrives in its e-commerce business. Amazon has increased its annual Amazon Prime membership fee and is continuing its investment in electric delivery vehicles to expand its Amazon Air unit. To read more, visit SmartBrief

Rising inflation compels shoppers to visit multiple retailers to discover affordable products

GroceryGeniuses May 16, 2022

Once again, external factors, including rising inflation and the money-saving approach, have pushed customers to dump the one-stop-shop concept and change their consumer shopping behaviour. As per the findings of Chicago-based IRI, a market researcher, about 78% of customers changed their shopping patterns, and 17% of them visited multiple retailers in April. Around 72% of them revealed that they made one or more changes to their shopping techniques in March. Additionally, IRI detailed that the economy is facing double-digit inflation. Consequently, consumers seem to be apprehensive about the rising prices of food and perishable items. IRI found that 51% of consumers stock up on certain products to escape the fear of items going out of stock. To read more, visit WinsightGroceryBusiness