An IDC InfoBrief, Sponsored by Precima
US total food spending increased 3.7% annually from 1991 to 2014 but food retailers’ sales increased only 2.2% annually during that period, resulting in a market share loss of 12 percentage points. Grocery retail is changing. Fast.
- Traditional stores are upping their game
- Alternative retailers are competing for food spend
- New competitors are entering the market and new challengers are emerging
With grocery shopping dollars moving into other areas, food retailers must compete aggressively to maintain share if they want to survive. Based on an IDC Retail Insights survey of 3000 shoppers and 200 retailers commissioned by Precima, we sought to understand what is driving shopping behavior, preferences and loyalty in this increasingly changing and competitive landscape.
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