4 Benefits of an Enhanced In-Store Experience in Digital Grocery
At A Glance
- Pandemic, changing consumer preferences, & macroeconomic developments have disrupted the conventional role of physical stores
- Despite the rise of digital in grocery sector, many consumers still prefer a brick-and-mortar store
- Bottom line is that consumers are looking for a seamless experience
- Technology can empower grocery retailers to adapt by streamlining store operations
- As creating an in-store experience becomes increasingly essential for grocers, this article looks at some of its key benefits
Over the past year, it has been increasingly clear how the pandemic, changing consumer preferences, and macroeconomic developments have contributed to disrupting the conventional role of physical stores in the grocery sector. Despite the rise of digital in the grocery sector, consumer insights indicate that there are many shoppers who still prefer a brick-and-mortar store.
The bottom line is that consumers value convenience the most and are looking for a seamless experience. Technology can empower grocery retailers to adapt by streamlining store operations, from checkout and resource management to replenishment and merchandising. These efforts can improve the in-store shopper experience while aiding in cost management.
As creating an in-store experience becomes increasingly essential for grocers, we look at some of its key benefits:
Satisfies Consumer Demand
The pandemic has compelled many grocers to adopt a digital-oriented business model. According to McKinsey, 75% of American consumers have experimented with curbside pickup or have begun using delivery apps since the pandemic started, and 73% plan to continue even after COVID-19 declines. Moreover, 79% of customers plan to continue leveraging or even expand their self-checkout usage post-pandemic. Hence, adopting technology in the grocery sector becomes vital to ensuring that evolving consumer demands are met.
Improves Inventory Management
The grocery sector can be pretty unique. To begin with, grocers sell products that expire. Hence, a seamless in-store shopper experience involves ensuring that the shelves are well-stocked with quality and fresh goods at the right time. Grocers can only thrive inside the stores if they make sure that everything is running smoothly behind the scenes. This allows the retailers to adopt or expand data-driven activities, which involves taking into account the inventory turnover ratio or real-time temperature monitoring.
Boosts Revenue & Profitability
Much like customers, grocery retailers are struggling with rising costs. Due to razor-thin margins, grocery stores also find themselves under immense pressure. So, to thrive in an environment where the swing in supply and prices impact the bottom line, grocers are embracing technology to enhance the in-store experience and gain a competitive edge. By doing so, grocers can ensure compliance, improve inventory tracking, mitigate risks, and, thus, reduce costs. This move can not only improve customer satisfaction but also boost revenue and profitability.
Ensures Sustainable Growth
Technological advances like machine learning, artificial intelligence, and robotics will substantially impact the future grocery store design. As this metamorphosis into the future grocery design innovation curve occurs, it becomes crucial for grocers to thoroughly understand current trends and build a strategic game plan to harness operational efficiencies. This becomes key in building sustainable growth and maintaining viability in the future marketplace.