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As the pandemic continues, grocery retailers must understand consumer expectations of the shopping experience to align brand and inventory management strategies to meet demand while protecting margins.
Despite being able to shop in store, 61% of consumers reported making grocery purchases online during the pandemic. Of these consumers, 51% had never shopped online for groceries before.
During the pandemic, 82% of global consumers tried new and private label brands. And 61% of these consumers plan to incorporate these new brands into their shopping routine.
Nearly two-thirds of consumers (64%) chose to purchase products at another store or opted to purchase another brand rather than waiting for a product to be restocked.
Build up your strategies for maintaining in-stock positions, growing your private label portfolio, and streamlining supply chains to increase margin and free working capital.
How can you grow revenue while reducing costs? Inventory optimization is a smart layer of machine learning.
How do you protect your brand while expanding private label offerings? Seamless communication across your network.
How do you create a holistic planning process that adapts to changes in shopping behaviors?
Private brand grocers must focus on growth, agility, transparency, accuracy, and brand protection.
Oracle Retail consumer research survey finds grocery shoppers opting for virtual carts during the pandemic.
Our COVID-19 Resource Center helps retailers track trends and lead in a time of crisis.