Top Grocery Retailer and Food Supply Chain News March 16-31
By iFoodDS Team
March 31, 2023
Here is our bi-weekly roundup of the latest food industry news. In the weeks of March 16 – 31, price was identified as the main factor when deciding where to buy groceries, analysts predicted consumers will look for value-added seafood, retail foodservice sales gained momentum, and Progressive Grocer shared strategies for leveraging organic and natural products to increase sales.
Price is the Main Deciding Factor for Grocery Shopping
43% of consumers decide the supermarket where they will buy their groceries based on price. The Produce News shared a list of strategies grocery retailers can leverage for customer retention.
Shoppers Looking for Value in Seafood
Compared to last year, seafood sales have increased during 2023. Analysts predict that sales will continue steadily and that retailers should promote nutrition, versatility, and affordability in seafood products to fight money-saving measures that might slow down seafood sales.
Retailers Investing in Technology
The 2023 Connected Retail Experience Study identified that retailers are investing in technology that allows them to improve inventory visibility and accuracy, optimize their operations, and integrate store and digital systems.
The Effect of Natural and Organic Products
Price increases have not slowed down sales of organic and natural products, especially for young consumers who have a positive view of these products. Progressive Grocer shared strategies for retailers to leverage the halo effect of these products to increase sales at grocery stores.
Retail Foodservice Gains Momentum
A recent study conducted by FMI showed an increase in demand for retail foodservice. Millennials and larger households seem to be driving the sales increase, as well as shoppers looking for convenience.
