Supermarkets and hypermarkets must capitalise on technological developments and create the perfect mix of in store and online offerings to meet consumer demand if they are to remain the dominant force in a rapidly evolving food and beverage retail landscape.
That is the message from Ashraf Ali M.A, LuLu Group International Executive Director, who will address the first Gulfood Innovation Summit, a robust new conference series that will explore and examine the latest challenges and opportunities facing the industry, which runs alongside Gulfood 2019 .
Speaking ahead of his participation in a panel discussion ‘Revolutionising Retail for the Changing Consumer’, Ali believes retailers should prioritise the convenience of customers as they seek to service an estimated one million extra consumers by 2030, with world population figures on track to reach 8.5 billion.
“Consumers are becoming much more educated, knowledgeable and trendy,” said Ali. “There will come a day when the one-store format won’t fit all the lifestyle preferences of your customer base. Segmentation and customisation of offerings are required to ensure convenience to customers, whether it implemented through online shopping or the traditional brick-and-mortar store.”
“As retailers, it is vital to make each shopping experience memorable and convenient. Technologies should serve as an enhancement tool for introducing better shopping,” added Ali. “Innovative formats, such as self-service check-out counters, cashless & card payment options, smart trolleys, click and collect on, virtual marketing, and augmented reality, all must be embraced so consumers benefit from a world-class shopping experience at the most convenient format.”
The Gulfood Global Industry Outlook Report 2018 stated, “For middle to premium consumers, a shift to local and specialist stores is driving sales of premium, natural and organic foods, allowing traditional and independent grocers to maintain their market share at 26 per cent globally. All leading global retailers have also adopted omni channel approaches to the market, with large investment establishing a strong presence in mobile retailing.”
Ali insists retailers must continue to listen to their customers. “People are becoming very health conscious nowadays, more aware of ecology, sustainability and the environment. These are the key elements that have been adding new dimensions to retail. We are continuously improving our supermarket offerings, which currently include specific categories and sections to highlight speciality products, such as natural, organic, free range, low-carb, and diet-oriented products,” added the food retail heavyweight.
“The global food and beverage industry is changing at a rapid pace with technology and consumer preferences causing huge shifts in market dynamics. The Gulfood exhibition will shine a light on the latest innovative solutions for food producers and suppliers, while the Gulfood Innovation Summit will service industry professionals with knowledge to tackle the latest and future challenges and opportunities,” said Trixie LohMirmand, Vice President, Exhibitions and Event, DWTC.