The way of shopping has changed in recent years, but for the large-scale retail brands there has been time to understand the new consumer habits and consequently to adapt their assortment methods.
Compounded by inflation, shopping is now done more frequently, buying the bare minimum. However, the increased cadence of shopping time should be seen as a new opportunity.
In order to optimise profits, retailers should aim to increasingly develop private brands, having full control over price, which increasingly differentiate and create value, as well as continue with investments in innovation, digitisation and artificial intelligence leading to cost reductions and increased service offerings.
The scenario illustrated by Distribuzione Moderna’s Retail Forecast 2024 predicts a generally positive year with major changes in the retail and large-scale retail sector.
The year 2023 ended on a positive note compared to recent years because shops were able to channel their purchases, despite the crisis periods, and this awareness can only be a guideline for the future as well.
Key words for this new year will therefore be: investment, technology, sustainability and customer focus. We will just have to see what the global developments will be in the coming months.