With all of the discount grocery and cross-shopping going on today, grocery retailers need to find a way to differentiate themselves and compete on an even playing field, not just on price. Fresh is the name of the game, if played well.
In 2016, produce accounted for $62.5 billion in sales and shows no signs of slowing down. The demand for fresh is growing quickly, in fact, at 2.5 times the rate of dry. But, as we all know, with loss and shrinkage, it is very difficult to make money on fresh. That being said, when there is more fresh in the basket, there is more dry too.
Experts say there are four very important things to consider carefully when it comes to success with fresh:
- Getting the right assortment of products is vital. Getting the optimal pivot point is essential.
- Choose your supply chain wisely. Getting high quality, fresh quickly is important and, unfortunately, most supply chains are built for cost optimization not speed.
- Think carefully about the presentation of your products. Fresh should look just that, fresh, abundant, and well organized.
- Hiring knowledgeable staff to talk about the products helps tremendously be it in the bakery, produce or meat department.