North Carolina’s Business-Friendly Environment, Efforts Draw National Accolades

For the fifth year in a row, CNBC has named North Carolina one of the top three states in which to do business.

Gov. Roy Cooper attributed the ranking to the continued investment the state is making in its skilled workforce and thriving economy. He added that major investments by companies across all sectors are helping to make North Carolina a top destination for business.

In response to the CNBC announcement, other state officials, including Gene McLaurin, who chairs the board of directors for the Economic Development Partnership of North Carolina, called the state “a powerhouse for business.” He attributed the collaboration among public and private groups as a chief reason for the robust economy.

According to the governor’s office, North Carolina has added 115,300 jobs and promised capital investments of more than $53 billion since 2017. Not content with the status quo, state officials continue to pursue new endeavors. In October, the state will host the 2024 Southeast U.S./Japan Association annual joint meeting.

The goal of the gathering is to encourage foreign direct investment from Japanese companies, as well as strengthen ties for Southeastern companies exporting goods to Japan.

Grocers shifting with times

Economic and population growth in North and South Carolina has positively impacted grocers, each of which offers unique value propositions to cater to diverse consumer preferences.

Independent retailers in the region have survived because they excel in various areas, such as local sourcing, sustainability, prepared foods, customer service and connection to community.

At the same time, the Carolinas have also seen a surge in the number of new grocers drawn by changing demographics and consumer preferences. Some of the recent trends include:

• Discount grocers: German retailers Aldi and Lidl are expanding their presence in both states, offering low prices on a limited selection of products.
• Convenience stores: C-stores like 7-Eleven and Circle K are expanding their offerings to include a wider range of grocery items.
• Online: Grocery delivery services like Instacart and Amazon Fresh are becoming increasingly popular, offering customers the ability to shop from home.

Best-in-class retailers

The Shelby Report asked industry experts to capsulize what retailers in the Carolinas are doing well. The following are a few of the insights they shared:

• Target market: Grocers excelling here understand the importance of identifying the specific demographic they seek, such as families, young professionals or seniors.
• Unique selling proposition: Successful retailers in the region have found a way to set their stores apart from the competition, whether it’s price, product selection, customer service or sustainability.
• Location: Best-in-class retailers understand the importance of choosing locations that are convenient for their target markets and have sufficient foot traffic.
• Competition: Grocers who analyze the competition in their target market and identify their strengths and weaknesses see success here.
• Trends: Staying up to date on the latest trends in the grocery industry – online shopping, mobile payments and sustainability, among others – has helped retailers excel.

Notable independents

Here is a look at three retailers that exemplify the trends shaping the Carolinas’ grocery market and their selling points:

Weaver Street Market

Business positioning: A cooperative, Weaver Street Market is focused on local sourcing, sustainability and high-quality products. With four locations in North Carolina, it appeals to customers who value healthy eating, environmental responsibility and supporting local businesses.

Unique features:

• Local program: The owner highlights local farmers and producers, featuring these products prominently in-store. Its recent annual report noted the stores typically sell more than one million local eggs, 200,000 containers of local berries and some 170,000 loaves of local organic bread.
• Community centric: Its Round Up program, which encourages customers to round up their bills when paying for purchases, has given more than $2 million to community food partners since 2015.
• Fresh baked goods, prepared foods: Weaver’s is known for its fresh bread baked daily, made from organic locally sourced flours. It also has a wide variety of prepared foods, including salads, sandwiches, vegetarian options and hot dishes.
• Sustainable practices: The company is committed to lowering its environmental impact through initiatives such as composting, energy efficiency and waste reduction. Weaver Street also has a lower carbon footprint from selling local goods rather than transporting products from other states or countries.

Kings Red & White

Business positioning: This family-owned single-store operator has been part of Durham, North Carolina, since the 1950s. Known for its local offerings, personal touch and strong sense of community, the store features a wide variety of products, making as much in-house as possible.

Unique features:

• Friendly and knowledgeable staff: Always ready to help customers find what they need.
• Butchers: Has several in-house meat experts on hand to take orders. Extensive list of cuts sourced from North Carolina and Nebraska farms. Fresh hamburger ground daily.
• Produce: Features in-season local farm fresh produce from North Carolina farms.
• Candy: Displayed in bins, trays and bags, the store has a large selection of nostalgic candy offerings from years gone by.
• Community involvement: The store’s owner and staff are involved in the town and are regular supporters of various causes.

The Fresh Market

Business positioning: The company’s first store opened in Greensboro, North Carolina, in 1982. Today, it has multiple locations in each state. The Fresh Market positions itself as a fresh-focused specialty food store. It’s known for having curated product offerings and shopping experience. The company’s goal is to inspire customers to try new products, entertain and cook with confidence and assemble easy meals.

Unique features:

• Gourmet selection: In addition to an award-winning bakery and deli, each store offers a wide variety of specialty items, including imported cheeses, wines and gourmet foods.
• In-store prepared foods: The Fresh Market offers a variety of prepared foods, including sushi, pizza and meals.
• Customer service: The store is known for its customer service, with knowledgeable and friendly staff.
• Community responsibility: The Fresh Market believes in giving back to communities. It does so with in-kind giving and through programs with long-term focus on hunger-related causes. For example, each store donates food multiple times per week to Feeding America’s partner food banks and agencies.