The Shape of Food Retailing in the New Normal
It is inevitable that the recession or even depression that we are facing will hugely increase the importance of offering value for money. Multiple grocers are likely to have aggressive pricing and promotional strategies as they fight for share of the consumer pound, meaning convenience stores will once again need to differentiate their offers to compete.
In the three weeks since disruption has really kicked in we have seen retail performances range from +80% in grocery to -100% in foodservice, clothing and holidays. In the new normal we will all still eat and drink, need to work, require shelter and energy to move around. How we do these – and also have some fun – will be very different to where we were in February.