Groceries are part and parcel of life and the slightest change in the grocery industry substantially impacts consumers as well as distributors. Not just households, but businesses and organisations these days too are dependent on groceries.
Following KPMG’s Global CX Excellence survey in 2017, “the grocery business offers the top customer experiences in retail as compared to any other sector.”
Emerging problems, like procuring products via internet shopping and pre-ordering, are being added to old ones, such as minimising queues and handling perishable items prevail in the industry. This raises the concern to devise a more customer-centric retailing approach.
The Grocer’s reaction should be to evolve and to be open to innovation by making use of all the opportunities provided by technology. Let’s take a look at a few of the most innovative ways grocery retailers are changing their trade, and see what ideas you can borrow to improve your business.
Take a look below at how shoppers could perceive your grocery store in the future, as well as tactics you could apply to keep one step ahead of the competition.
Make checking out easier –
When Amazon began testing its automated and checkout-free Go convenience shops, it caused quite a stir. These venues, which use the most recent advances in machine learning and sensors, let clients go in, choose their things, and be paid immediately when they walk out. Since the introduction of this concept, additional retailers have introduced comparable formats.
Albert Heijn, a Dutch supermarket company, has been exploring small-scale cashier-less stores. Customers may visit the shipping container-sized installations, which are open 24 hours a day, using their credit or debit card. Weight sensors identify which things the consumer picks, while cameras capture the customer’s actions. Customers may then either validate their receipt or depart and be immediately charged within milliseconds.
Many grocers have eliminated the transactional component of the shopping experience and altered the entire customer journey simply by eliminating the cash register. Consider bringing the same concept to your shops. How might you make the purchasing process easier? What changes might you make to improve the experience and eliminate transactional elements?
You may visit Fujitsu.com for smart self-checkout solutions.
Bridge the gap between online and offline experience –
Customers increasingly expect brick-and-mortar establishments to give the same ease and access to information that they do online. The retailing business is continuing to embrace these developments and is now leading the way in offering customers the online capabilities they want in a physical location.
Chinese e-commerce firm JD.com launched 7Fresh, a physical supermarket chain that combines the online and offline worlds in what they call “Boundaryless Retail.” Shoppers may use the store’s app to scan the barcodes of each item for sale and view product information, such as country of origin and nutritional value. The software can even recommend recipes based on the ingredients being searched.
Buyers of today are going the extra mile to be more educated about their purchases and its counter actions extend far beyond food retail. They have started incorporating their values into their consumption patterns.
“Is this vegan? Is it environment-friendly? Which charger is compatible with this computer?” These are just a few of the questions your consumers may ask while buying in-store. The more you enable your clients to make conscious decisions, the simpler it will be for them to buy.
Discover new revenue streams –
Retailers have historically relied on income streams unrelated to their main items. For years, we’ve seen retailers sublet space to coffee shops and restaurants, and the supermarket is no exception. However, as grocers face increased market competition from larger brands, they are increasingly looking to unusual new revenue streams to compensate.
Kroger, the largest supermarket chain in the United States, is foraying into the healthcare sector by the name Kroger Health, a network of in-store and subsidiary pharmacy networks. They’ve started offering free health screening kiosks and in-person consultations to clients, and they’ve partnered with local primary care clinic networks to give low- to no-cost healthcare to their staff.
This investment not only generates a new source of income but also provides health care for employees, that in turn helps the firm save more in the long haul. Kroger Personal Finance is synonymous with smart services like credit cards, identity theft protection and checks cashing which are made available to customers. This campaign for groceries has so far been effective in exceeding its objectives and is probably going to flourish.
Procure all your grocery staples in advance –
In order to keep up with the ever-rising demand for groceries, you must have stock readily available to you. If the customers don’t find the desired product of their preferred brand, they would be compelled to go to other stores.
Also, check the shelf-life of grocery items and compare them with demand to prevent losses. Inventory management woes are the last thing you would want to blame for the shortfall in your sales.
For this, you can team up with a wholesaler who can provide the products at discounted rates and deliver them to your store promptly. Check our list of grocery items you might be interested in and save up with exclusive deals!
It’s time to automate your operations-
Walmart and Albertsons in the United States have lately begun utilising robots in certain locations to do low-level activities traditionally performed by human staff. This can fill staff inadequacies in a much easier way.
Robots can clean floors, unload trucks, scan boxes, monitor inventory, and choose things to expedite online sales. The shelf-scanning machines evaluate data collected by the robots’ 3D cameras in the cloud to determine what’s on the shelves and what needs to be refilled.
These robots may cost a fortune but they would yield great returns in the long run. Rest assured they will ease out other headaches for you and hasten the operations.
Bottom Line
The grocery industry is competitive and holds many complications. Perhaps, as a result, supermarkets are accustomed to taking chances. In recent years, these risks have paid off, and the most adventurous grocers have found success by experimenting with new business strategies.
Can the same be backed by when it comes to individual retail units?
Even though there are several ways to be an innovative visionary, you can follow these tips for effective results –
- Examine what enterprises in other sectors are doing to streamline their operations and satisfy their consumers, and then attempt to adapt these ideas to your own.
- Follow your consumers’ journeys and develop a value offer that will make their lives easier.
- Do not rush to incorporate new technology simply because it exists. Rather, take time to assess the available options and execute those that best suit the organisation and its objectives.
- By trying something new, you can get an edge over your competitors if they have never done it.
- Be open to changes and constantly keep a watch on growing into the company you aspire to be.
The path to becoming a new-age retailer does involve strategic compliance and effort, but it is worth it.
