The Retail Experience of the Future exhibit at FMI Connect in Chicago featured research from PwC's report "Front of the Line; How Grocers Can Get Ahead for the Future". These are the topline learnings:
As the pace of technology accelerates, retailers are scrambling to get their websites and mobile apps to stand out in an increasingly crowded field.
At the same time, consumers are demanding more relevant, effective tools to keep them coming back.
The late Steve Jobs once said, "You can't just ask customers what they want and then try to give that to them. By the time you get it built, they'll want something new."
He may have been on to something. Take a look at the number of new products that roll out in a given year.
Unprecedented size, growth and buying power make the mature market critically important for CPG companies, according to IRI's Times & Trends report Boomers & Seniors: Carving Out Growth in Mature Markets.
The boomer/senior market accounts for more than 50 percent of CPG spending, or about
One of the most noticeable, yet difficult to measure, industry trends of the past year has been the tendency to turn to collaboration and tackle industry-wide issues. The Food Waste Reduction Alliance (FWRA) is a shining example of such partnerships.
Established retailers and CPG manufacturers are ramping up their acquisitions and opening up new formats as their confidence in the economy improves.
Companies are hoarding less cash and re-examining their allocation of capital, experts say.