Consumers will DEMAND higher quality Shopping Experiences this Year
This headline coming directly from Acosta, who has forecasted 2020 to be the year retailers will need to focus their attention toward their in-store experience.
Acosta has placed the CPG (consumer packaged goods) 2020 predictions into 4 main categories including: macro consumer predictions, shopping experience predictions, store operations predictions & category/brand predictions. For those in the supermarket industry, we are touched and affected by each of the categories mentioned.
Within the macro consumer predictions, the most prevalent would be the emphasis current shoppers have on sustainability. Shoppers want to know that what they are purchasing and the products they are using come from brands practicing sustainability and eco-friendly initiatives. Store owners need to focus on stocking brands which are upfront with these and many other practices in order to stand out in a very competitive market.
Shopping Experience Predictions is proving to be the most crucial as to which brick and mortar locations continue to thrive versus the companies which are having to close retail locations. Companies with thriving in-person locations are doing so through valuable investments in reskinning and remodeling their locations. Both are cost effective options which will enhance the in-store experience resulting in more customers daily with higher average sales. Adding in the senses during a routine shopping trip for a customer can change the experience. For example, offering cooking demonstrations or providing a prepared food section can allow for customers to hone in on their additional senses including smell, taste & even touch.
Store Operations Predictions notes that online shopping has gained traction over the last few years and by 2023 it is projected to double in spend. While you cannot eliminate shoppers wanting to shop at their convenience from home or at work, you can expand your offerings in order to combat the growing change. Even smaller scale stores have the ability to offer in-store pick up, you just need the right equipment!
Lastly, the category/brand predictions are of no surprise, younger Americans are focused on quality and have a ‘treat yourself’ mentality when it comes to food options. Customers are more likely to pay up for a premium product and see this as a way to reward themselves. Healthy, ‘clean eating’ has become a priority for consumers and so they see the value in a top-notch product and will pay the premium price.
If you’re still with us, you know the value these predictions have in our world. In order to continue in this industry you need to make the investment in your stores, your products and your equipment in order to stand out and be the store, retailer, restaurant of choice for your community.
We would love to help you with all of your needs in 2020 from switching to sustainable (and cost effective) refrigerant systems to reskinning equipment you already have and everything in between. Click through out site, visit us on Facebook, Instagram or LinkedIn or contact us directly.