Here’s how your grocery shopping experience will soon be changing
Changing consumer habits, mounting competitive pressures and forecasts of an e-commerce explosion are going to transform the grocery industry over the next decade, according to a report from CBRE.
The study says a variety of changes — many of which are already underway — will escalate over the next decade. Shoppers can expect smaller stores, more online options and a host of new technology to speed up the buying process.
Shopping from home
Online shopping, which has gained a strong foothold in the industry, is expected to account for as much as 10 percent of overall food purchases by 2022.
Consumers have become increasingly used to the idea of buying their groceries online. And with curbside pickup or home delivery from retailers such as Amazon and Walmart, it’s becoming more convenient and less costly. It won’t replace brick-and-mortar stores, and it’s expected to see significantly slower growth than online buying in other retail categories.
Stores will remain critical to grocery revenue and profit, the study said, but we’re going to see changes in layout, design and product offerings. In large-format stores, for example, grocery chains will have to dedicate more space for click-and-collect counters and curbside pickup.
Walmart, ranked the nation’s top grocer in 2018, plans to spend $833.8 million for new store construction and/or improvements across six states this year. Aldi says it will spend more than $5 billion over the next five years.
Checkout lines at supermarkets will disappear within the next decade, according to a new report from CBRE. So the days of interacting with your friendly neighborhood cashier will soon be a thing of the past. Automation takes over
Walmart has partnered with Massachusetts-based startup Alert Innovation to employ an automated storage and retrieval system called “Alphabot” to speed the process of filling online orders. Alphabot uses automated carts to retrieve …read more
Source:: The Mercury News – Business