The world of retail is being pulled between two consumer urges. No, it’s not love and fear, or anything to do with the current political climate. The retail industry is grappling with two consumer desires that are inexplicably opposites: a demand for what’s new and next, and a yearning for the simplicity of the past….
Grocery stores have always served as community hubs, places where people could run into a neighbor or a friendly face while doing the week’s shopping. Grocers have been known to host events like cooking classes and food drives in order to foster those customer relationships, and it’s never been too difficult to convert someone into…
The phrase “company culture” brings to mind a certain image of professional utopia. Tech companies with large-scale campuses where employees can take naps in pods or indulge in free beer when happy hour hits, exclusive personal development seminars led by world-renowned speakers, and over-the-top employee recognition traditions all bring the idea of a “perfect” company culture to life.
There is more than enough content telling you what to do as a retailer. Ebooks are sold, blog posts are written (ahem), podcasts are recorded, and webinars are held all with the express interest of persuading you that there is yet another thing that you need to add to your to-do list. Would you believe me if I told you that none of these new concepts would dramatically change your business?
Instead of adding another worry to your plate, what if you tried tweaking the processes and policies that you already have in place?
When it comes to maintaining a successful retail business in 2019, all roads lead back to transparency. We’ve entered a phase of consumer behavior in which honesty is valued even above traditionally prioritized factors like price and brand recognition. As a grocer, this means that you must change your business practices in order to fit this new standard. Without customer transparency, you may not be able to garner customer loyalty – and that could mean the end for your business.
So much of what a consumer does from day to day takes place online. They shop online, communicate digitally, use connected voice assistants in their daily routine, and expect their phones to be within arms’ reach at all times.
Here’s the million dollar question: Is it really worth it to have a brick-and-mortar store in this digital age? All signs point to yes.
If we could look into a crystal ball and predict upcoming retail trends, well, we probably wouldn’t be here writing this blog post.
Though we don’t have psychic abilities, we do have the power of research on our side. After spending time with some of retail’s most influential experts at National Retail Federation’s Big Show 2019, we are fairly certain of the direction that retail is headed this year.
The world of retail is ever-changing. With each year comes a new host of strategies and tactics to consider, new ways to understand consumer thoughts and purchasing habits, and new technology that sets out to make us more efficient and effective.
The one event that sets the stage for the upcoming year in retail is the National Retail Federation (NRF) Big Show, which just concluded its 2019 event. While we took away many lessons about how grocers should adapt to changes within the world of retail, there were a few overarching takeaways that we wanted to call out that affect the entire industry.
If you work in a grocery store, you’ve seen it. The customer or employee standing on the bottom shelf in order to reach the product in the back of the top shelf. Try as you must, you train, remind, and remind employees again that it isn’t safe. That they need to get a step stool. Yet, when it comes to helping a customer, nobody wants to make them wait that long. And so, the disregard for safety prevails. That’s where Medll Innovations EZ-Reach tool comes in.
Supermarket and retail shrink is a battle that may never truly end, but is increasingly being better handled by companies investing themselves in finding new ways to reduce it.
We’ve covered some of the specific tools and strategies supermarkets and retailers are using to win the war on shrink, but this time, we thought we’d step back to consider how leaders can power their shrink elimination efforts by making it a core pillar of their company culture.