Forty-five years of consumers' grocery shopping habits documented in our US Grocery Shopper Trends report shows that households have their own unique ways of meeting weekly food shopping needs. Some want a dazzling experience, others want convenience and many are dividing the task among members of the household. But, when it comes to grocery shopping online, what are consumers looking for?
According to the 2019 Trends report, 21% of US consumers are regular online shoppers. Among online shoppers, many see value in features like list-building tools, easy returns, subscription services and integration with other online services. Which of these features are essential to the online grocery shopping experience? More importantly, how does a store's online grocery shopping experience measure up to competitors?
It's important to understand the shifts in consumer shopping trends and match them to your technology approach and strategies. In late January 2020, we are hosting our second FMItech@ Midwinter program to promote collaboration, knowledge exchange and dialogue, and to enhance your technology strategy. We'll bring together FMI Midwinter attendees focused on technology, e-commerce and automation strategies to create actionable next steps. For technology companies interested in applying for a Tech Talk and for retailers interested in joining us, use the commitment form here.
Hope you can join us as we keep our pulse on technology.
Advertising opportunities in FMI Technology Align your marketing with the topics trending among FMI's Food Technology community professionals. Download our media kit to learn more about advertising opportunities and how to reach the FMI Tech audience.
Technology can be a game changer in fresh foods because it brings new solutions to long-standing problems. These include challenges related to inventory, waste, freshness, and food safety. However, the technology story will play out differently in fresh because of the unique aspects of this part of the business. Read more.
Learning about the future of voice
Our Chief Information Officer (CIO) Council visited the Massachusetts Institute of Technology, better known as MIT, for its fall meeting. Attendees learned about a project MIT graduate students are working on called Open Voice, which will provide an open source standard and platform to allow retailers to embed voice into consumer and operational activities without requiring them to be on a proprietary platform.
It is not headline news that the food retail industry is facing a range of challenges, from the proliferation of competitors and competition for labor, to interchange fees and rising health care costs. Some of these issues remain the same, a few are new and others are growing in intensity. With this range of challenges, food retailers are increasingly realizing that many of these challenges will never fully vanish, despite their best efforts. Based on response to the 2019 The Food Retailing Industry Speaks survey, food retailers are moving forward with proactive strategies to navigate the barriers and embrace new opportunities. As part of this process, food retailers are learning how to survive and thrive in any environment. Read more.
In his June address to an audience of 6,000 at their annual associates and shareholders celebration, Doug McMillon, president and CEO of Walmart, shared, "If I oversimplify our ability to thrive in the future, it comes down to one thing: our ability to solve problems together well enough and fast enough." Later in his presentation, he expanded on change, saying, "Retail will change more in the next five years than it has in the last 50." McMillon's two statements ring true as I reflect on our time at Groceryshop 2019. Here are some takeaways from the event.
AI: Recharging your business
Today, artificial intelligence is everywhere. It is being applied for different reasons, in all types of industries with varying results. For CPG, AI is essential to address the challenges you are currently facing from new and existing competitors. Before you start evaluating the ins and outs of AI, it's important to understand why and how to apply it to your business. Dive into the key takeaways from this free webinar from r4 Technologies. Presentation | Recording
An abundant number of opportunities exist for technology in food retail, from shaping omnichannel success, leveraging data for enhancing customer experiences, streamlining the supply chain, machine learning and everything in between. In order to capitalize on all the emerging technology solutions available to food retailers, we've developed the FMItech initiative. Read more.
Food Marketing Institute proudly advocates on behalf of the food retail industry, which employs nearly 5 million workers and represents a combined annual sales volume of almost $800 billion. FMI has almost 1,000 food retail, wholesale member companies, 85 international member companies and almost 500 associate member companies. For more information, visit