The research of Dinesh Gauri, Walmart Chair in Marketing at the Sam M. Walton College of Business, Rupinder Jindal, and Yu Ma was recently featured in a Mass Market Retailers article discussing the shifting landscape of grocery retail.
The available data point to several conclusions which retailers must accept if they are to enjoy future success. “Consumer preferences and behavior,” they observe, “have likely changed for good, and may never fully revert to the pre-pandemic era. Retailers need to understand the impact of the pandemic on sales patterns to modify their retail strategies accordingly and thrive in the ‘new normal.’”
Using grocery sale data from Information Resources, Inc., and COVID-19 mortality data from the CDC, they analyze the present situation and offer four tips to help retailers meet changing consumer demands and expectations:
- Focus on the consumer purchase experience
- Enhance private labels and provide optimal assortment
- Wean customers away from deal-hunting, invest in supply chains, and reduce friction in the purchase process, and
- Revise online algorithms and in-store spaces to accommodate the needs of WFH employees
To learn more about the changing terrain of retail and how retailers can respond, visit Mass Market Retailers.