TIDAL WAVES OF CHANGE
January 19, 2017
There was a time when consumers visited bank branches regularly. Then along came the ATM, and suddenly the world of banking and the role of bank branches shifted forever.
Likewise, there was a time when the only way to watch a movie was by going to a theater. Then along came the VCR (and all that followed), causing movie theaters to rethink their approach in order to stay profitable and relevant.
Similar challenges have always existed for food retailers, especially as the industry evolved from small, full-service grocery stores to self-service supermarkets and then big box operators. While changing with the times, food retailers’ survival was helped by a simple truth: each week, shoppers needed to navigate a store to collect necessary items.
Now that is changing too, threatening the very relevance of the entire industry. The supermarket of the future is being shaped by emerging technology and lifestyles shifts that provide the consumer a new array of choices in how, when and where to shop. These food industry trends are forcing retailers to consider bold new strategies to survive and thrive.
Next week, the Coca‑Cola Retailing Research Council North America will release its newest report, Surviving the Brave New World of Food Retailing. It will examine these vast changes and offer specific strategies to both better understand and serve shifting consumer needs.
The new report will be available for free download on www.ccrrc.org on Jan. 26.