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In a recent supermarkets and grocery stores report from IBISWorld, the company suspects that, during the next five years to 2027, supermarkets will experience continued competition from online operators.
As consumers' shopping behaviors are changing, traditional grocery stores are seeking new ways to further engage consumers. For many grocery stores, the new path to differentiation is digital.
U.S. grocery consumers have flocked online at a rate never seen previously because of the COVID pandemic, with time savings being the primary motivating factor rather than COVID-related safety concerns.
As pandemic conditions prompt many consumers to grocery shop from home, supermarkets have adopted omnichannel platforms to maintain sales. As a result, major players are directing capital expenditures to solutions that drive future growth for the channel.
With fresh foods and beverages sourced from all around the United States and beyond, brands and retailers are implementing innovative solutions for achieving optimal quality.
Comprising 46 percent of the retail share, traditional supermarkets remain the largest channel in the retail food industry; however, Jon Hauptman, senior director of retail at Long Grove, Ill.-based Willard Bishop Co., an Inmar analytics company, notes that dollar sales in the channel have been flat as more consumers shop at supercenters, fresh-format stores, dollar stores and online.