Grocery stores are evolving. Why? They’ve lost your business and they want it back. Traditional grocers are losing market share to competitors (including farmers markets, dollar stores, and smaller retail operations). In addition, the increase in online food shopping is cutting into their business. The result? “Grocery wars” that are sparking innovation that will likely result in a better experience for consumers.
“The bottom line is that for the supermarket to survive and prosper and grow, it’s going to have to offer more services,” says Phil Lempert, a consumer behavior analyst who tracks these trends on his site SupermarketGuru.
Lempert identifies a handful of trends we’ll likely see more of, including restaurants in grocery stores, smaller store formats, more services, and a variety of delivery options.