A & J GLOBAL FOODS, INC.’s Post

View organization page for A & J GLOBAL FOODS, INC., graphic

123 followers

Trends shaping the #GroceryMarket in 2023 and beyond 1. Ongoing pressure to deliver value to consumers: Reducing spending remains a top priority for #shoppers in all income groups. Indeed, nearly 60 percent of consumers are looking for ways to save money, an increase of 13 percentage points from 2022. 2. Elevated personalized experience across channels: Grocers will continue to invest in personalization and #omnichannel capabilities to attract, engage, retain, and deliver value to customers. To remain competitive, grocers should use purchase history to inform product offerings. 3. #BroaderBusinessDiversification: #GroceryRetailers are evolving their #BusinessStrategies to create ecosystems and explore new revenue streams. They are partnering with tech companies, expanding into consumer services, and selling B2B services. For instance, they've launched e-marketplaces, retail media networks, and health and wellness services. Partnerships with tech companies are on the rise. 4. Acceleration of #GenerativeAI: Grocers should consider developing plans to harness generative AI to transform their business, capture more value, and accelerate growth opportunities. For now, the majority of use cases remain within analytics and the consumer front end. KEY PRIORITIES FOR 2024 • How can we create a seamless omnichannel experience to deliver a personalized offer and messaging at the right time and in the right place? •Which generative AI use cases should we prioritize, and how do we create a test-and-learn culture to get the most out of this technology? •What actions do we need to take to accelerate our transition to renewable power, establish recycling solution coalitions with other grocers, and amplify messaging around ESG-related claims? Read the full article here➡ https://lnkd.in/g_2rUUVx #FoodRetailIndustryNews #FoodRetailIndustryTrends #FoodIndustry #FoodBrokers #WholesaleFoods #Sustainability #TrendTopics #GroceryMarketIndustry

The state of grocery in North America 2023

The state of grocery in North America 2023

mckinsey.com

To view or add a comment, sign in

Explore topics