Grocery stores are slowly losing business due to price drops and digital revolutions in shopping. What do these new changes mean for consumers?
Over the last few years, food prices have fallen. Although grocery stores continue to improve their merchandise and price ranges, competing with major online retailers is difficult.
With a smaller profit margin, grocery stores struggle when food prices drop. However, stores like Walmart and Wegman listen to their customers and tailor the customer experience. For example, Walmart now sells specially-grown produce that tastes great and appeals to their base. Wegman's market supplies sustainable, organic produce to 2 chain stores. It's a small step, but is it big enough to keep the digital revolution from taking over?
Amazon took the online grocery industry by storm. Amazon provides services such as grocery delivery, online pickup, and meal kits. Between Amazon and Walmart, local grocers are feeling the pinch to their profits.
If grocery stores evolve and continue to grow in the world of technology, then they will have a chance to stay in business. At the end of the day, the shoppers are genuinely winning with the changing options and lowered prices. If you're still looking for ways to save money at the store, here are 20 money-saving supermarket survival tips.