Supermarket Strategies: New Frontiers in Food Retail
Published 17 November 2023
A hotbed for both digital innovation and tantalising food theatre, worldwide grocery retail is worth $1.66tn and forecast to expand by 7.7% annually until 2027. From convenience stores to mega-marts, we spotlight three key strategies for capitalising on the opportunity: new-gen eco-grocers, artificial intelligence (AI) tools for busy and budget-conscious shoppers, and immersive store concepts targeting global gourmands.
Crucibles for Culinary Discovery
AI Fuels Swifter & Savvier Loyalty-Inducing Food Shopping
Evolving the Eco Mart
Catering for the adventurous intercultural appetites of today’s foodies (see The New Global Palate and Gen Z Influences Future Flavour, plus Key Stats), savvy grocery brands are ramping up globetrotting gourmet programming, edutainment touchpoints and market-style layouts. These experiential hybrids often also have social impact ambitions, illuminating ethnic foodways or platforming diverse up-and-coming industry talent.
Catering for the adventurous intercultural appetites of today’s foodies (see The New Global Palate and Gen Z Influences Future Flavour, plus Key Stats), savvy grocery brands are ramping up globetrotting gourmet programming, edutainment touchpoints and market-style layouts. These experiential hybrids often also have social impact ambitions, illuminating ethnic foodways or platforming diverse up-and-coming industry talent.
Summary
Crucibles for Culinary Discovery | Catering for the adventurous intercultural appetites of today’s foodies (see The New Global Palate and Gen Z Influences Future Flavour, plus Key Stats), savvy grocery brands are ramping up globetrotting gourmet programming, edutainment touchpoints and market-style layouts. These experiential hybrids often also have social impact ambitions, illuminating ethnic foodways or platforming diverse up-and-coming industry talent. |
AI Fuels Swifter & Savvier Loyalty-Inducing Food Shopping | Inflationary pressures are increasing grocery shoppers’ interest in AI-generated personalised deals or budgeting tools (see Key Stats). Uber Eats’ new in-app conversational commerce taps into this opportunity, as does a slew of smart cart start-ups synced with loyalty programmes. Meanwhile, Portuguese start-up Sensei is honing a more intuitive autonomous supermarket format. |
Evolving the Eco Mart | With consumers citing cost, lack of clarity and access to sustainable goods as barriers to sustainable living (see Key Stats), forward-thinking supermarkets are easing and incentivising eco-friendly choices. Slicker execution and discounted pricing are finally driving adoption of in-store refilling stations, while waste-curbing recipe inspiration and loyalty schemes rewarding eco-conscious choices are also engaging consumers. |
Supermarket Strategies: New Frontiers in Food Retail
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Offering access to over 350 consumer and cross-industry reports annually, Stylus Membership is your window to tomorrow’s most exciting opportunities.
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