With the changing grocery landscape, McKinsey redirects grocery executives to change a few practices to see positive outcomes in North America. Retail executives face many challenges, such as supply chain disruptions, high inflation, and workforce issues. Grocery retail gurus need to focus on the following five areas:
1, Retail leaders need to provide higher value along with healthy food options. McKinsey reports that 90% of CEOs expect consumer price sensitivity to persist this year.
2, An efficient omnichannel presence needs to be augmented. 50% of consumers have preferred online orders and delivery since the pandemic.
3, Retailers need to increase their sustainability efforts, as consumers tend to purchase more from sustainability-driven brands.
4, They need to invest in tech workforce solutions, and improvised planning is needed regarding hiring and retaining workers.
5, Grocers need to grow their partnership network for enhanced e-commerce and supply chain offerings.
