It’s a natural part of living and nearly everyone does it. Grocery shopping — that often mundane chore that sometimes seems unending — has changed a great deal in just the past decade or so, and this has major implications for the rest of the global economy.
In that space of time, Americans were able to start ordering their groceries online for pick up at a later time. This not only streamlined the process and saved valuable time, it could also cut down on those impulse purchases that can sometimes wreak havoc on a budget.
What follows are the six major changes we’ve seen in a relatively short amount of time.
1. The Amazon Effect
Though not classified as strictly a grocery store — Amazon is more of a nearly all-encompassing online marketplace — their sales model changed the landscape of grocery shopping for Americans.
Not only can consumers find a range of hard-to-find items that might not be available in their local area, they have the ability to purchase in bulk and even set up automatic shipments for the future. Both of these strategies have the potential of saving shoppers money.
Additionally, with Amazon’s large network of distribution centers, it’s often possible to have deliveries from the online giant the next day or even within a few hours.
2. Scanning Apps
Already in many cases, shoppers can download the app from their preferred grocery store and use it to navigate the store, scan prices for accuracy and discover related items that they might have otherwise forgotten. Expect this technology to become more refined in 2018 and beyond.
3. Amazon Buys Whole Foods
The innovations noted above are not the only ways that Amazon is shaking up the grocery industry. With the company’s acquisition of Whole Foods, its reach into the sector went far beyond the online realm.
This deal also prompted other companies such as Walmart and Kroger to push ahead more quickly on the renovations they had on the drawing board. In spite of these advancements, grocery stores across the United States are sorely lacking in technology and innovations compared to those in Europe and some areas of Asia. That’s soon going to change, though.
4. Kroger’s Edge is Coming Soon
This year’s National Retail Federation’s Big Show was highlighted by companies showing off scores of technological innovation that would revamp the experience of grocery shopping for Americans.
One company, Kroger — which also owns Fred Meyer, Harris Teeter and Roundy’s — is currently rolling out its Kroger Edge shelving system at select grocery stores. According to the current plan, the company with outfit hundreds of its stores with smart shelves that have digital screens. These will hold an abundance of information that consumers can use to their advantage — such as updated pricing information, product features and more.
Kroger is planning to eventually integrate the ability for the technology to link to a consumer’s smartphone to provide assistance navigating the store.
5. Fairway Market Partners with FutureProof Retail
Fairway Market, a grocery store chain based in New York, recently announced its partnership with FutureProof Retail to provide the power behind its mobile app.
Shoppers with the Fairway Market app will be able to both scan their groceries with their smartphones and also pay from it as well. Expect more grocery stores to follow this trend. In fact, other companies will likely be piloting similar technology this year as well.
6. SwiftGo Tackles an Industry-Wide Issue
One thing that’s been holding grocery stores back in their quest to innovative is the challenge of balancing the public’s demand for the convenience of mobile features with the increased ease of said consumers to commit theft. A startup, SwiftGo, previewed its device at this year’s Innovation Lab at this year’s National Retail Federation’s Big Show.
The company highlighted a device that automatically weighs each item as it’s put into a cart. This helps ensure that the shopper pays for each item by scanning it with the grocery store’s mobile app before checking out. This helps alleviate theft concerns while still giving consumers the option to scan and go.
As technology continues to evolve, it’s not only providing more ways for consumers to grocery shop conveniently. It is also helping companies stay leaner and more competitive as well.
Regards,
Ethan Warrick
Editor
Wealth Authority
