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Webinar: Retailers can 'win' despite high food costs |
06.27.2008
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BARRINGTON, Ill.--Supermarket operators with strong shopper value plans will come out ahead despite food-price inflation, which is predicted to linger longer than expected, according to Jim Hertel, managing partner at consulting firm Willard Bishop here.
During a June 24 Webinar titled "The Future of Food Retailing," Hertel projected that while inflation will continue for the next three years, retailers with a multi-tier private-label program and an understanding of how to meet shopper's needs will succeed in the industry.
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"Supermarkets can win by understanding how shoppers are trading down; their eating out less and looking for value offerings, " Hertel explained.
To take advantage of the situation, retailers should focus on developing a plan that includes "strong private brand programs, a compelling prepared foods presentation and a winning price image," Hertel said.
Supermarket formats that are seeing the strongest growth are traditional grocery stores, in particularly the fresh formats and limited assortment stores, as well as smaller formats where shoppers are buying less more often--all of which are poised for significant future growth, Hertel said.
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GN E-NEWS 08.27.2008
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