Welcome to the Retail Rundown, your go-to weekly podcast where RETHINK Retail teams up with industry experts to discuss the news and trends defining the world of retail.
Today we dive in to top grocery news in honor of the Groceryshop event currently underway in Las Vegas, Nevada. We also share our recently published report “Grocery Trends 2021: The Call for Essential Adaptability” on the changes, challenges and expectations facing the grocery industry.
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Julia Raymond Hare:
Hello! Welcome to the Retail Rundown Podcast. I’m your host Julia Raymond Hare. Today’s episode will be shorter than our regular show format. We will not be joined by a guest today but we will dive in to a bit of grocery news in honor of the GroceryShop event currently underway in Las Vegas, Nevada.
But before we begin, last week the RETHINK Retail team published our 2021 Grocery Report – featuring insights from both grocers and consumers. It dives into the changes, challenges and expectations facing the grocery industry.
You’ll find new information like:
Which service 75% of consumers are still eager to about as the pandemic fades out?
How over 70% of customers’ food habits have changed and what grocers are doing to accommodate it?
Why 65% of grocery shoppers are experiencing longer wait times, and how to combat this issue?
How grocery executives rank their top 7 challenges?
And more. To download your copy, go to the resources section of our website or directly to the report URL at www.rethink.industries/download/grocery-trends-2021
Okay, on to the news:
Online grocer Misfits Market locked in $225 million in funding last week. For those unfamiliar with Misfits Market, it started off as an “ugly produce” company that worked with farmers to sell those slightly blemished fruits and veggies that would otherwise be too unsightly to sell in a grocery store.
Since then, the e-commerce grocery brand has expanded and is now bringing organic produce, high-quality proteins and sustainably sourced pantry staples directly to consumers’ doors. It offers this service through its direct relationships with farmers, producers and suppliers.
This bit of news ties in quite well to one of findings from our Grocery Consumer’s Survey. Our survey revealed that since the onset of the COVID-19 pandemic, 70.6% of respondents experienced increased desire for healthier food options.
As evidenced by both this data and the growth enjoyed by Misfits Market, consumers who want to eat healthily don’t seem to care if their carrots and peppers are misshapen or slightly blemished. It demonstrates the increased demand for home delivery and alternatives to grocery shopping.
Speaking of home delivery, Instacart was in the headlines earlier this month. The North American delivery and pick-up service announced its planned push into selling online advertising. The Wall Street Journal reports that Instacart has hired Facebook and other tech veterans to develop advertising platforms for video and other services.
Instacart has also rolled out 24/7delivery service from select retailers that are open 24 hours. Such retailers include Safeway, 7-Eleven, CVS, Rite Aid and Walgreens.
And finally, our last story of today: U.S.-based supermarket Hy-Vee recently opened its new digitally reimagined store outside of Des Moines, Iowa. Empowered with digital touchpoints and a lineup of new departments and partnerships, the store will serve as a testing ground for new in-store innovations. Over in the EU, Tech crunch reported on more “startup swapping in the food delivery space” as Spain’s Glovo announced its acquisition of 2 “Instacart-style” startups in the region — Portugal’s Mercadão and Lola Market based in Madrid. This move signals its expansion from urban convenience shopping, via its network of dark stores, to planned grocery shopping.
And that it’s from us today. A few members of our team including our managing editor Gabriella Bock are at Grocery Shop – if you happen to see them be sure to stop by and say hello.