The produce industry is one of the few sectors that experienced a significant boom in demand over the last 6-8 months. What can grocery retailers expect in the months to come?
Ed Treacy, VP Supply chain for the Produce Marketing Association provies exclusive insights into that state of grocery retail, and the implications of forecasting in a world un uncertain consumer behaviour coupled with an increased lead time on non-local produce. For more industry insights check out our Experts in Industry Series!
The coronavirus pandemic changed consumer habits, forcing food retailers to adapt quickly. Millions of households started buying groceries online for pickup or home delivery and many will continue using ecommerce options after the crisis passes. Retailers should integrate an ecommerce strategy into their long-term plans to stay ahead of the curve and capitalize on new consumer behaviours.
This blog dives into the potential implications of trends and forecasts for the grocery market in the decade ahead. These predictions will widely affect grocery supply chains, store planning and promotion strategies for grocery retailers. This includes the trend towards more meatless options, a targeted focus on healthy eating, and environmental sustainability concerns coming to the forefront for consumer preferences.
Even in the old normal, there was work to be done. We were facing food safety issues with distressing frequency, contending with weather events, peak markets and short supply. The Produce and Grocery industry is built on a constant flow of perishable product and the pandemic caused us to pause, postpone, and suddenly accelerate at a rate this industry has never experienced before. The amount of innovations and collaborations that have happened in the industry over the last 6-8 months have made many industry partners optimistic for what the new normal might bring to the produce sector. What is to come in the future and how can industry partners continue in the direction of improvement?
TPG’s Top Picks is a weekly column of curated, industry-specific trends. We will focus on a new industry every week, and offer you the latest developments in a quick, digestible post.