We don’t often get to sit back and take a deep peek at the future of the grocery industry. Progressive Grocer’s Retail Innovation Outlook for 2023 attempts to do just that, however.
Over the past three years, grocery retailers have had to reassess and reinvent nearly every facet of their operations. Digital transformation, pandemic disruption, economic uncertainty and unpredictable consumer behavior have left the grocery industry at a tipping point. The future of the industry depends on innovations that increase efficiencies, drive growth and create a next-gen grocery shopping experience.
The power of PG’s annual Retail Innovation Outlook lies in offering a practical look at how grocers are thinking about meeting these challenges in the future. We narrowed down a long list to 10 areas where innovation is occurring in multiple dimensions. These are areas where, over the course of 2022, we witnessed profound change and expect more change in the coming year.
In 2023, foundational changes to the grocery landscape will continue. We expect food retailers to focus their innovation value propositions on foodservice, private brands, social commerce, customer loyalty, store design, retail media, labor solutions, personalization, sustainability and consumer trends.
The innovations in PG’s Retail Innovation Outlook all aim to change the industry in a profoundly positive way, and retailers have amazing ideas about how to do just that. We hope that these big ideas kindle further optimism regarding the future of the grocery industry, where there’s never a lack of excitement about what kind of transformations the future will bring.