State of the Industry
Retailers cannot afford to have channel-locked experiences and capabilities anymore, and must embrace a "Unified Commerce" approach to succeed in this new world order. Incisiv surveyed senior food and grocery industry executives to understand their outlook towards their Unified Commerce strategy and capabilities. Agility, resilience and innovation are clear mandates for retailers' next-generation Unified Commerce technology.
Incisiv's 2022 State of the Industry "Unified Commerce in Food & Grocery" presents key findings and analysis from a study of 135+ retail executives. The study was designed to understand retailers’ outlook and attitude towards Unified Commerce as an enabler of key growth strategies.
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.