Inventory levels are the key to any retail grocer’s success. Controlling perishable losses and out of stock delays is easier with demand forecasting, yet transition to new technologies and data-driven methods of inventory control can be costly if not properly implemented. Here are the top five mistakes made by retailers undergoing a transition to a demand forecasting inventory operations model.
Supermarket loyalty programs are the foundation of all knowledge. Gone are the little stamp booklets of yesteryear. With data-driven grocery retail operations, supermarket loyalty programs have taken on a whole new meaning, and customers want value in exchange for their personal information required for membership. Swipe and Save incentives have proven to be the market leader in loyalty program membership.
Studies suggest that people have an ingrained fear of shortage. Whether this is a psychological hangover from the days of lean harvests and not having enough food to tide us over during the winter months is up for debate.
However, it remains true that retailers can tap into these subconscious anxieties to gently persuade customers to add impulse purchases to both their online and in-store carts.
Publix, Chick-fil-A, and Food Lion are among the companies that earned an “excellent” score in a recent study conducted by the Temkin Group that compared a wide variety of organizations and industry verticals. These companies, along with other supermarkets and fast-food chains like Kroeger, Save-a-Lot, and Wegmans, received top ratings from consumers.
The Food Safety Modernization Act (FSMA) “final rule”, with respect to Foreign Supplier Verification Programs (FSVP), is a means of the US Food and Drug Administration to regulate the human and animal food imports of international importers.
The grocery store deli offers much more than meat and cheese. In fact, the deli is becoming a more trusted source of fresh, quality ingredients for shoppers in the U.S., Canada, and the U.K., according to a study by the Culinary Visions Panel. Shoppers around the world agree that there are many great reasons to stop at the deli counter on your next visit to the grocery store.
In an ever-changing world of consumer trends and habits, supermarkets have had to adjust to shifting demands and new consumer interests in order to rise to the top. With increased competition between supermarkets and high expectations from consumers, being aware of these emerging trends can give retailers a boost in the market. 1. Transparency and…
While digital coupons are growing in popularity, retailers have been struggling to process paperless coupons from various platforms. Fortunately, two major organizations, GS1 US and the Joint Industry Coupon Committee (JICC), have come together to create a new digital coupon standard.
There are few destinations more important to the daily life of a neighborhood than the grocery store. It should therefore come as no surprise that grocery store management is a demanding role that requires a range of skill sets to ensure their stores run smoothly day-in and day-out. Take a look at a few of…
Any seasoned grocery store manager will tell you that produce shrink is one of the most vexing problems they deal with on a regular basis. But what is produce shrink, and what can we do to fight it? Simply put, produce shrink is the product that goes to waste when it is not sold. What…