The pandemic transformed grocery retail overnight - delivering multi-generational eCommerce growth within a few months. Experiences such as curbside pick-up and store inventory online were once differentiating; they are now the price of entry. Grocers’ attention has shifted away from COVID-19 101 issues such as distancing and masking to longer-term effects such as labor shortage and supply disruption.
In addition to targeting business process improvements and technology investments in key areas of focus, grocers must prioritize associate training and employee engagement. It is only through a combination of focused store operations process redesign, targeted investments in key technology capabilities that drive efficiency, and comprehensive enablement of store teams through training and engagement will grocers create a solid foundation for their next-generation store experience.
As consumers continue to reshape their expectations,
enterprises must contend with a uniquely challenging landscape.
The consumer technology landscape is forever changing.
From Pinterest to TikTok, WeChat to Instagram, new experiences can rapidly gain consumer adoption and relevance.
From augmented reality to voice, smartwatches to chatbots, consumers are constantly embracing new interaction paradigms.
Commoditized convenience is eroding loyalty and margin.
Consumers expect convenience. If you can't deliver it, they'll go elsewhere - e.g. next day shipping becoming the new standard.
Walmart will reportedly lose USD 1 billion on eCommerce revenue of USD 21 billion this year as it faces challenges in its bid to complete against Amazon – from trouble integrating its DNVB acquisitions to impact on margin from its next-day delivery operations.
Consumers value experiences that are curated to fit their lives better.
They want to engage, be served, and transact at their time, their pace, their place. They have little patience, infinite choice and the freedom to swipe left at the slightest hint of friction.