2023 State of the Industry
The distinction between grocery shopping and dining is fading away. To remain competitive, grocery stores must blend these experiences seamlessly.
Grocers need to innovate by combining shopping and dining seamlessly, enhancing self-checkout, and experimenting with niche services like ultra-fast delivery to stand out in a competitive market. By pursuing these strategies, they can create distinctive grocery experiences that surpass customer expectations and solidify their position as industry leaders.
This report provides an extensive insight into the significance of focusing on technologies and processes that enable grocers to expedite innovation and craft remarkable grocery experiences that clearly distinguish them from competitors.
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.