By Steve Markenson, Director, Research & Insights, FMI
As a child, I loved watching ABC’s Wide World of Sports on Saturday afternoons. The program would often have professional athletes compete in various athletic activities, my favorite being the obstacle course. I vividly remember two of my idols,
Lynn Swann and Lou Brock, climbing walls, “dancing” through tires, crawling through tunnels, dodging barriers and sprinting to the finish line. It made for thrilling television.
As I look at the results of The Food Retailing Industry Speaks 2022 report, I see many of my professional role models throughout the food industry navigating
a different type of obstacle course than my childhood idols. The food industry has had to navigate a wide range of challenges in the past year – ongoing pandemic, supply chain bottlenecks, labor shortages, inflation, global conflicts and more.
Looking ahead the industry is expecting even more hurdles to navigate.
In addition to surveying food retailers, for the first time in its 74-year history, Speaks also includes perspectives from food suppliers. As you look at the headlines from this year’s top takeaways, try to envision Lou Brock or Lynn Swann
navigating this extreme obstacle course.
2022 Speaks Top Takeaways
- Inflation Sparks Extreme Pressures.
- Supply Chain Remains Big Hurdle.
- Retailers Embrace Consumer Behaviors.
- Technology on Front Burner.
- Hiring and Retention Present Challenges.
- Ecommerce Business Advances.
- Perimeter Takes Priority.
- Store Development Pursues New Directions.
- ESG in Spotlight.
- Community Support Differentiates Retailers.
The report delves into each of these headlines, along with a range of metrics for the industry to benchmark such as turnover, shrink, profits, expenses, sales per square foot, online sales metrics and more.