Retail News: Food Retailing – 2016 Projections

Retail News smWe are well into 2016 now and so we thought we’d take a look at what trends are in store for the next few months. 2015 was a big year in food retailing, and 2016 is set to follow.

So what’s in store for food retailing this year? We found a great article from Canadian Grocer which talks about just a few – check it out here:

Here are some highlights from the article:

Here is what the article had to say about consumer trends: “The three major consumer trends we expect in 2016 are supply chain transparency and animal welfare, gut health and vegetable proteins. Because the industry has shown to be more responsive than ever these past few years, expect these trends to continue into the New Year. So yes, shopping for food is getting more expensive in Canada, but the quality and service we are receiving from industry has never been better.”2016 should be a good year for grocers, the article notes, stating “food retailers in Canada are doing well as they face lower competition and generate higher profit margins.”

Additionally, in 2015 food prices were up, and they are expected to increase even more this year. That being said, compared to global statistics, Canadians still pay the lowest prices relative to salaries.

Since shoppers are still overwhelmingly female, industry experts are hoping for a stronger female presence in executive positions in the food retailing industry in 2016 as well.

Other sources have spoken at length about mobile and the role it will play in the retail industry. With mobile shopping on the rise, more retailers will be expected to offer far more digital options. Click and collect is also expected to become standard, giving customers more choice for buying and picking up.

As far as food retailing trends and consumer behaviour, rising health awareness, continued popularity of locally-grown products and the desire for customized goods will continue to impact what consumers are looking for in grocery store aisles.

2016 is set to be another big year in the retail industry – are you ready?

Want to start strategizing to meet the needs of 2016’s consumers? Call Marketsupport today at 1-877-421-5081.

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