Asian grocery retailers have enjoyed strong, profitable growth in recent years in line with the region’s economic development. They also see continued urbanization and the rising wealth of city dwellers as potential for future profits. Many retailers therefore plan significant investments in modern retailing formats to meet growing demand. But before doing so, they should consider how the next generation of grocery buyers will actually shop.
Given the convenience of online shopping, the future role of physical grocery stores would seem to be in question. Just as many young Asians have never used landline phones since the rise of mobile phones, will the next generation of consumers bypass grocery stores?
It is within this context that the Asia Pacific Council undertook a report to understand how grocery retailers can attract Generation 2020 shoppers (consumers currently in their teens) when they become adults. This market research, which incorporated seven countries with different retail development, suggests that today’s teenagers will be enthusiastic grocery shoppers, but that their needs will call for adjustments. Retailers will need to implement digital tools to engage with and win the loyalty of Generation 2020 shoppers. Read more in the report to find out how to prepare your business.