Supermarkets Adopting To Changes In Consumer Behavior, Market Conditions, And Economic Slowdown, Study Shows

Supermarkets are developing new concepts to attract shoppers and gain shares of the food and beverage markets, according to market research firm Packaged Facts. Data from "The Future of Food Retailing: Shopper Insights and Market Opportunities" report revealed that the economic slowdown, changes in consumer demographics and lifestyle, as well as advances in technology have forced supermarkets to change how they operate their business. Other factors that have affected supermarkets in 2012 and 2013 include mergers and acquisitions in the food retail industry and the growing competition from supercenters and warehouse clubs, drugstores, dollar stores, and online grocery shops. Also, 85 percent of shoppers say they do some planning before doing their grocery shopping, while only 37 percent say they do "spur of the moment" shopping, according to Packaged Facts.