FMI’s new five-part mini learning experience dives deeper into The Food Retailing Industry Speaks to give you the real-world context behind the numbers.
By: Steve Markenson, Vice President, Research & Insights, FMI
Since 1949, FMI’s The Food Retailing Industry Speaks report has been a unique resource. Full of essential insights and data points that frame the industry, Speaks provides key benchmarks for food industry retailers, wholesalers and suppliers to measure themselves against. This year, we wanted to go beyond the data to glean insights on the challenges and opportunities facing the food industry.
FMI staff had five focused discussions with industry practitioners that explored the stories behind the numbers. These 10—to 15-minute discussions are designed for food industry professionals at all stages—from store-level to C-suite professionals—as part of FMI’s new deep-dive experience.
1. Navigating an Uncertain Macro Environment
In an industry that chases pennies with profit margins of less than two percent, how are retailers navigating challenges related to the economy, trade, tariffs, operations, theft and competition. Based on key industry financial metrics, we explore how Topco is navigating these challenges to maintain profits and keep customers satisfied with Tom Frey, executive vice president and chief financial officer.
2. A Destination for Health and Well-Being
Health and well-being are powerful motivators for both the food industry and consumers. The industry is finding success in offering more nutritious options, while shoppers show a willingness to invest in themselves and spend a little more for healthier foods that align with their health goals. We explore some of the efforts the industry is pursuing to meet shopper needs in their efforts to eat healthy and pursue greater well-being with FMI’s Krystal Register, vice president, health and well-being.
3. Ecommerce
While digital engagement among grocery shoppers continues to grow, retailers are increasingly finding success in their digital engagement with shoppers and in ecommerce. Learn from Chad Petersen of Lowes Foods about what has worked and not worked, along with what the future of ecommerce looks like.
4. Technology
Food retailers and suppliers are investing in technology such as artificial intelligence (AI), data analytics, automation and so much more in a wide range of ways across their organizations. While the industry focuses on operational efficiency and personalization, shoppers embrace tech that simplifies and enhances their food journey. Chad Petersen of Lowes Foods looks at future of grocery technology.
5. Delivering Comfort to Shoppers
Grocery shoppers today have a value mindset and seek someone on their sides as they endeavor to “eat well.” The industry is responding with enhanced private brand options and a renewed focus on shoppers' desire for convenience, entertainment, relevance and quality. Retailers are also supporting shoppers locally with strong communications and community uplift programs. Hear about the methods utilized by Northeast Grocery to comfort shoppers.
These stories are part of a new learning experience: Essential Industry Insights. Explore one or two discussions or complete them all and earn a certificate to showcase your expertise.
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