What the Grocery Industry Will Look Like in 2023 | Digital Grocer S5E6

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What the Grocery Industry Will Look Like in 2023
Digital Grocer S5E6
The grocery retail industry is ever-changing, and
the next few years will bring even more changes.
By 2023, grocery stores will look very different
than they do today. For one thing, they will be
much more focused on delivery and online
ordering. In-store pickup will also become more
popular, as customers continue to value
convenience. In addition, grocery stores will
increasingly cater to specific dietary needs,
such as gluten-free and vegan options. They will
also offer more prepared foods and grab-and-go
meals. As the grocery industry evolves, stores
will need to adapt to survive. Those that embrace
change will be well-positioned for success in
the coming years. Click on the below podcast
link for more information https//digitalgrocer.
com/podcasts/grocery-retail-economic-trends-to-pre
pare-for-in-2023-digital- grocer-s5e6/ In this
episode of Digital Grocer, hosts Sylvain Perrier
and Mark Fairhurst are joined by Claire Fan, an
Economist from the office of the CEO of Royal
Bank of Canada. The three discuss the Canadian
and U.S. economy and how current events are
affecting grocery consumers, as well as what is
happening from a geo-political perspective and
how that will impact the economy and grocers in
general. Some of the topics covered include the
current macro state and trends with the Canadian
and U.S. economy, how inflation is surging
globally and what that means for grocers, how
consumers are responding to the economic
situation and the impact on consumer spending,
strategies that grocery retailers are
implementing to combat inflation and economic
challenges. The grocery retail industry is
facing unprecedented challenges due to the
current economic conditions. Inflation is rising
at a rapid pace globally, which is putting
pressure on grocery retailers who are struggling
to keep up with rising costs while also trying to
maintain margin levels. Consumers are also
responding to the economic situation by becoming
more mindful of their spending habits. This is
having an impact on grocery retailers who are now
implementing strategies to combat these
challenges. Some of these strategies include
price increases, cost-cutting measures, and
promotions or sales to drive traffic into stores.