The Hass Avocado Board (HAB) recently published a Top 10 Retail Trends report that offers insight into the challenges and changes facing retail. The report also provides suggested actions for shippers/handlers and/or retailers to help build the Hass avocado category.
“The industry is still witnessing dynamic changes in the retail landscape with traditional grocery retailers losing market share as limited assortment stores, fresh format stores and dollar stores gain market share,” said Emiliano Escobedo, executive director of the Hass Avocado Board. “Online grocery shopping continues to shift consumers’ shopping preferences, and retailers are adopting new technologies to remain competitive. This is an exciting time for the produce industry, and this report is complete with industry information that may impact grocery retailers and Hass avocado sales.”
The report touches on such topics as:
• One in every five meals is eaten in the car;
• Fresh format stores have aggressive expansion plans to reflect the interest in healthy diets and sustainable food practices;
• Limited assortment and dollar stores are increasing store openings as consumers seek value in challenging economic times;
• The marketplace is oversaturated with choice;
• Food retailers are becoming healthcare destinations; and
• Millennials tend to shop a wide range of channels and purchase at places known for instant consumption rather than planning ahead.
This changing retail landscape is persuading traditional retailers to adopt some of the strategies of the competing store formats, including focusing on fresh and healthy options and offering value and discounts on items, according to the report. Retailers can remain competitive with customization, which will engage the consumer and build loyalty.
Millennials have the highest consumption of fruits and vegetables (2.7 servings per day) and are seeking ready-prepared food due to their busy lifestyles. Promotions using social media that interact with this consumer group will be the most successful, the report says. Additionally, retailers can help busy families solve their meal solutions by offering easy recipe ideas and freshly prepared meals.
The full report can be found here.