UK shoppers in search of food and drink have more choice than ever before, available with little effort and at competitive prices. This is the result of fierce competition and innovation among retailers driving changes throughout the market.
Convenience and discount retailers continue to develop their offers and challenge the rest of the market. Online too continues to develop rapidly, driving new innovations in delivery to overcome that tricky “last mile” of the supply chain.
Foodservice operators are also adopting technology, using services like Uber Eats and Deliveroo to make their products more accessible to customers. Bridging the gap between retail and foodservice, food-to-go is expected to see huge growth over the next five years, outpacing conventional routes to market.
Major players in retail are now entering the grocery market, and large established retailers are innovating too. 2016 saw Amazon enter the UK grocery market as a full-service retailer and Sainsbury’s began to embed the Argos operation into its existing business.
Evolution is continuous and boundaries are blurring – it’s very exciting for shoppers but, for businesses, change brings challenges, for both suppliers and retailers:
- A more complex retail environment may mean higher-cost-to serve
- It raises questions of how older store types can be kept up-to-date
- It may expose gaps in understanding of modern shopper behaviour
So what will grocery retail look like in the future, and what does it mean for you?
In March, we will be holding an evening masterclass exploring the future of grocery retail with a look at the trends that will shape the landscape of grocery tomorrow.
We’ll share our thoughts and predictions, based on our unique industry insight in an interactive and engaging session. Book now to start future-proofing your business and personal development.