By: Charmaine Wiggins, Manager of Research, Food Marketing Institute
Dale Carnegie’s 1948 self-help book How to Stop Worrying and Start Living includes the following bits of wisdom to think about when analyzing worry:
- Get all the facts
- Weigh all the facts – then come to a decision
- Once a decision is reached, act
Why do I bring up Carnegie and a 68-year-old book about worrying?
Now in its 66th year, FMI’s The Food Retailing Speaks survey is currently in the field and for the last 12 years, FMI Speaks has asked senior leaders in the food industry about the issues that affect their ability to succeed in the marketplace. Known as the FMI Worry Index, when it was initiated in 2004 only one issue rated highly that year—above 7 on a 10-point scale— and to no surprise that top concern was competition. Each year the impact of individual issues changes but what stays constant are the overall concerns retail executives must weigh to make the best decisions for their business that also meet the needs of their customers.
The last 12 years of the FMI Worry Index prove that what is often expected may not always align with the actual outcome. More recently, issues like cyber security, staffing, hiring and retention, which were consistently low to mid-range concerns on the FMI Worry Index, have grown in their intensity rating to rank in the top 5 overall concerns for food retail executives in 2015.
So what will the FMI Worry Index look like this year? And, will what food retail executives expected to be big issues also have been the concerns that impacted their businesses the most?
If you have food retail stores, we want to know what you have to say. Reach out to research@fmi.org to request to take the survey and receive a free copy of the report.
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