Posted: Jul 17, 2011
Upper Saddle River, NJ (June 17, 2011) According to Michael Sansolo, moderator of the recent Food Institute-sponsored webinar on the Future of Food Retailing, "some tumultuous changes are now impacting the food industry." The latest U.S. Dept. of Agriculture reports indicate that food inflation will stay with us, and, will be driven primarily by commodity pricing. Shoppers paid 4% more for their basket of groceries in recent months, according to a recent Dow Jones report. This webinar explored the increasing pressure on the food industry and shed much insight into the forces behind food inflation and unique ways to circumvent what is happening.
Jim Hertel, Managing Partner at Willard Bishop, suggested varying ways to target better pricing in what many consider a fairly dismal market. His three-step approach included getting smarter on cost structure, examining costs on profit & loss statements and leveraging "vendor resources." His associate, Craig Rosenblum, also of Willard Bishop echoed his thoughts, stating, "a good price image is about more than price."
Food inflation, coupled with variables such as unemployment, private label and commodity pricing, continues to impact traditional grocers, non-traditional grocers and convenience outlets. The Future of Food Retailing 2011 webinar explores this and offers a valuable resource to all who view it. The webinar has been recorded and is now available for viewing by registering at http://www.foodinstitute.com/foodretailing2011.cfm or by contacting Sue Antista via email or at 201-791-5570, ext. 212.
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