1010data, a leading provider of analytical intelligence and consumer transaction data, has released its in-depth State of Grocery Report: How Omnichannel Became A Reality In 2020. This study examines the changes catalyzed by pandemic shopping patterns in 2020 and makes the case for which shifts are here to stay. It also examines notable performance within the competitive landscape, and explores winning strategies to keep up with consumer needs and demand.
“The grocery industry is managing a massive, perhaps once-in-a-lifetime surge to online shopping and diversification of fulfilment channels,” said Inna Kuznetsova, CEO of 1010data. “It tested the resilience of supply chains and demanded responses to fast-changing consumer behaviors necessitating planning at a highly localized level. Retailers today have to combine behavior-based segmentation of buying habits with shifting preferences for home delivery, curbside pickup or Buy Online, Pickup in Store (BOPIS) to tailor customer experience to a variety of needs while optimizing business performance.”
In particular, this report on the State of Grocery will look in depth at data-rich insights, including:
- Shifting behaviors, new patterns and emerging trends in online spending transactions
- The 323% surge in year-over-year Instacart sales growth and associated winning partners
- Growth factors for big box, grocery, warehouse, and Amazon within the grocery sector
- The continued expansion for fulfillment options like BOPIS with 103% year-over-year growth
- Top performing categories, items and private label brands – which are up 203% year-over-year
- Key actions grocers should be taking as we come out of the pandemic
“Understanding the way consumers are shopping today informs the grocer’s drive to dynamic merchandising, which will result in the ability to deliver more targeted, localized assortments in physical locations, and a more personalized shopping experience online,” notes Jonah Ellin, Chief Product Officer of 1010data. “With multiple fulfillment options becoming an accepted—and expected—reality for consumers, we should see industry-wide trends shifting toward more collaborative assortment planning, intelligent supply chain and a more real-time customer data driven approach including alternative data and predictive analytics use to support these strategies.”
The State of Grocery report is available for download here.
For more than 20 years, 1010data has helped financial, retail and CPG companies monitor shifts in consumer demand and market conditions and rapidly respond with highly targeted strategies. The 1010data Insights Platform combines market intelligence, data management, granular enterprise analytics, and collaboration capabilities to empower better business outcomes. More than 900 of the world’s foremost brands partner with 1010data to power smarter decisions. To learn more, visit www.1010data.com.