When it comes to choosing how a store, or even if, a store should markdown products expiring soon, there are many options to choose from and factors to consider. Are your shoppers drawn by big savings, or is the focus more on an upscale shopping experience? How much product will need to be marked down in any given week? Will you use the same strategy across all departments, or vary it based on storage requirements? Just to name few.
In today’s rapidly-changing grocery environment, supermarkets––especially those in high-competition areas––are investing in new ways to stand out and provide a unique experience for customers.
Of course, taking any significant step in a new direction can bring just as much anxiety as it does excitement. Company leaders want to make sure they’re investing in more than just hype. They need to make decisions informed by hard data and reliable market intelligence.
Although many still characterize online grocery shopping as “niche” activity, recent numbers suggest it’s about to grow very soon and likely very rapidly. a January report from Toronto-based ecommerce platform provider Unata found that one in three U.S. consumers intends on grocery shopping online this year––up 64% compared to those who actually did shop for food items online the year before.
Consumer trends are a strong force in influencing grocery store inventory from year to year––something inventory managers need to keep their finger on. Unfortunately, finding the time to pick through market research is easier said than done for busy store leaders.
To help you paint a clearer picture for the rest of this year (and likely beyond), we’ve gathered some recent consumer grocery trends that may be worth considering when planning inventory changes in the near future.
Food allergies have become a major public health and safety concern as the numbers of those affected by them continues to grow at an alarming rate. According to a new analysis of private insurance claims by FAIR Health, an independent nonprofit that collects and analyzes claims data, life-threatening allergic reactions to foods have increased by…
Loyalty programs are nothing new to grocers, but over the past few years, new data has revealed trends in consumer behavior that’s changing the way supermarkets are thinking about loyalty programs. Let’s run through a few of these data-driven takeaways before diving into one loyalty program software platform we’re seeing some grocers have success with…
In 2008, just 3.7% of Americans identified as vegetarian or vegan, according to Harris Interactive polling data. More recent data from Pew shows those numbers have nearly tripled in less than a decade, with 9% identifying as mostly or strictly vegetarian or vegan in 2016. This probably doesn’t come as a shock to any supermarket…
Return and refund scams are very commonplace. It’s estimated that nearly 10% of all refunds and returns somehow abuse store return and refund policies. Learn about some common scams and 2 simple steps you can implement to help prevent your store from being defrauded.
When it comes to deterring shoplifters, more retail professionals realize that the best defense can be a good offense. That is, it’s not enough to catch shoplifters once they have taken an item. All efforts should be made to ensure that they never even get a chance to steal.
Inventory levels are the key to any retail grocer’s success. Controlling perishable losses and out of stock delays is easier with demand forecasting, yet transition to new technologies and data-driven methods of inventory control can be costly if not properly implemented. Here are the top five mistakes made by retailers undergoing a transition to a demand forecasting inventory operations model.