Retail Industry Insights
In preparation for all the wonderful things the food world was looking forward to in the year 2000, I sat down with European artist Herbert Hofer to share my vision of what a supermarket might look like in 2000. The year was 1989 and Hofer painted a consumer experience second to none.
You may have heard your retail leadership talk about analyzing syndicated product data but may not fully understand what it is and how this data can impact purchasing, merchandising and advertising decisions. Brands and retailers can use this data to identify trends such as competitor growth and market share, and compare store-level sales by product. Mark McKeown, from IRI, provided some insights on ways this data may prove useful to retail dietitians:
A blockchain is a digital ledger that is shared across a network of computers. Once a record has been added to the chain, it’s very difficult to change. Since every transaction is recorded on a block and across multiple copies of the ledger that are distributed over many nodes (computers), it’s very transparent.
The 2018 Food Retailing Industry Speaks report explores those issues that impact food sales positively or negatively, describes some of the strategies retailers are using to differentiate themselves, and looks at the growing impact of e-commerce. Several of the results are encouraging for the current and future role of retail dietitians: