There’s a lot to be said about the future of grocery stores. While there will always be a need for its functionality, market share at traditional grocery chains is decreasing.
As a result, larger chains will have to evolve in order to compete with smaller markets and farmers markets (not to mention technology like grocery delivery apps). As consumer habits continue to change throughout the years, smaller competition has the flexibility to adapt quickly to the market, just like startups in relation to Corporate America.
NPR recently caught up with SupermarketGuru and consumer behavior analyst Phil Lempert to get an idea of ways grocery stores will have to shift in the next 10 years to stay in business:
Full-Service Restaurants. Forget what you’ve been told about “never going to the grocery store on an empty stomach.” Dubbed groceraunts, which can already be seen in Mariano’s (Illinois), Lunds and Byerly's (Minneapolis) and in several Hy-Vee locations, this provides a separate location destination for consumers, going beyond delis and cafes (with a higher price point, most likely).
Specialty Selections. With a love for craft beer and adventurous culinary (think more international ingredients, specialty foods and locally sourced options), Millennials are not only developing a more educated palate, but appreciate the option for interaction. So, on top of selection, things like wine tastings, pairings, cooking demos and other events are all options to foster this need for community.
To view all of Lempert’s insights, read more here.