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Furry Friends Fetch a Profit

When thinking about what consumers want, grocers typically consider the latest trends in how people are choosing to feed their families, but many may overlook that for most Americans, their families include four-legged friends. According to the American Pet Products Association, almost 85 million households have a pet, and pet ownership has increased to 68 percent of all households. Chances are, the majority of your customers have pets, and statistics show they’re willing to spend money on them. U.S. citizens spent a total of $69.51 billion on their pets in 2019, $29.07 billion of which was spent on pet food. It’s clear that pets are a part of the family, and American consumers will spend as much as they can to ensure that their pets have long, healthy lives. Grocery stores have the opportunity to replace specialty pet stores by positioning themselves as a one-stop shop for the whole family, pets included. There are several trends occurring in the rapidly growing pet products industry that could prove to boost revenue and retain customers.

Why Multicultural Consumers Are Having a Big Impact on U.S. Grocery

As the U.S. multicultural population continues to climb, the preferences of U.S. Hispanic, African-American and Asian-American shoppers consumers will continue to reinvent the grocery shopping experience. That's according to the inaugural “Multicultural The Why? the Behind The Buy” report from CPG industry sales and marketing agency Acosta. “The growing multicultural population will drastically impact the grocery industry, and we have already noticed key differences between shopper groups,” noted John Clevenger, SVP/managing director, Acosta Strategic Advisors. “For example, multicultural shoppers recognize the link between food and their health, and are significantly more likely to buy natural and organic foods even though they are more expensive. Understanding these unique values and preferences is vital for manufacturers and retailers to win with this emerging consumer group.”

How Predictive Analytics Can Benefit Your Store

Predictive analytics is the science of forecasting future trends based on the study of current data, and it has become an integral part of digital marketing in all industries. The retail industry, especially, has embraced this science as a way to get ahead of their growing number of competitors. In the grocery sector, the competition is even more robust, with non-grocery players like Amazon and Instacart swooping in to capture consumers’ food spend.

Survey: Grocery stores need to ‘enter the modern age’

Many consumers think grocery retailers need to do more to modernize the shopping experience, according to new research from cooling technology provider Phononic. Of 1,118 consumers polled for the company’s 2019 Store of the Future study, 51% believe that if grocery stores don’t “enter the modern age,” more people will seek other ways to buy food. Similarly, 41% of respondents said grocery stores don’t leverage technology as well as other retailers, while 40% think grocery stores “haven’t changed in decades” and need to adapt to the modern age. “This should be a wakeup call to the industry,” Phononic's report said.

Cashing In on the Natural Foods Trend

An increasing number of Americans are embracing whole, unprocessed foods, and for good reason. Studies show that about 61 percent of adults’ diets in the United States are comprised of processed foods, even though these foods are proven to contribute to obesity, high blood pressure and other health risks. While quick and processed meals may be convenient, many people are unhappy with the detrimental effects that processed foods have on their health and are making concerted efforts to change their habits. According to the International Food Information Council Foundation’s annual Food and Health Survey, a growing number of 2019 survey respondents reported that they consciously tried to follow a specific diet in the past year, with clean eating and gluten-free or low-carb diets cited as the most popular.
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