In a few short years, retail will be a totally immersive and data-driven experience highlighted by personalized AI recommendations for health and home, smart carts to increase efficiency (and solve the traveling salesman’s dilemma in-store), and much more.
“Customers will step into a retail environment where every interaction is personalized, guided by AI algorithms that efficiently navigate shoppers through aisles and offer tailored product suggestions in real time,” fostering brand loyalty and elevating the consumer experience to “unprecedented satisfaction levels.”
To further understand how inventory and supply chain will change, Jarvis said the end of data silos must be achieved “to create a holistic understanding of each shopper, their interactions, and the stream of information being shared with them.
“By 2030, visiting a Target, Walmart, or Costco won’t just be about shopping,” said Diana Zheng, head of marketing at Stallion Express, a leading e-commerce shipping company from Canada, “It will be an experience. An immersive experience. A personalized experience, even a social experience.”
From number-crunching untold volumes of data to helping streamline inventory, supply chain, and predictive market trends, there is no digital limit to what AI can help operators achieve.
Despite some titans of the pantry and cookie jar winning in their categories (Keebler’s Chips Deluxe Fudgy in the Cookie category; Dr. Pepper Strawberries & Cream in Soft Drink), better-for-you offerings not only abounded but won several snacking categories.
The least expensive products will start at just $1.99 and range from apparel to supplements, vitamins to technology, and more. Many of the offerings will be exclusive to Target and complement its dedicated online wellness destination that features ideas, meal inspiration, and more.
EV charging stations outside, stores within stores inside, sprawling beauty sections, niche products, reimagined loyalty programs – the battle for foot traffic is cutthroat as the economy roars to life.
The second wave of retail media networks is already upon grocers and retailers – and CPG makers could be among those to benefit the most.
McDonald’s has nearly as much brand magnetism with Gen Z as Dwayne “The Rock” Johnson or Ariana Grande. And in 2023, the purple-hued force of attraction that connected the burger giant with young consumers was …
Major retailers including Target, Walmart, Whole Foods, Walgreens, and CVS have all recently decided to close locations across major US cities, raising concerns about the future of retail in some of the most distinguished business …
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What’s next for the controlled environment agriculture (CEA) space after a spate of bankruptcies and rising inflation?
While the mid-pandemic rush around curbside pickup has cooled off, the potential benefits for consumers and retailers alike are still shaping the grocery landscape. The number of shoppers opting in for the convenience of in-car …
Amazon’s two-day Prime Day event starts July 11, and retailers are hoping it lifts the restraint consumers have been exhibiting since the beginning of the year. Call it Christmas in July. The annual sales orgy …
When consumers start tightening their wallets due to economic conditions, they start choosing between price and convenience. And in the case of major retailers, it becomes a struggle to decide where to concentrate efforts. “Companies …
Grocers looking to stand out can tap into two trends: the demand for healthy foods and growing interest in cooking at home.
Welcome to the FI Newscast! Each week, we note the latest industry trends and consumer insights, with guest appearances by the foremost industry experts. This week’s guest was Hunter Thurman, President of Alpha-Diver – one …
Now that Walmart has joined Target and Costco by raising their minimum pay to about double the federal rate of $7.25 an hour, fast-food outlets may have to consider boosting their minimum to $20 to …
The latest FI news podcast updates the push toward automation throughout multiple elements of the food industry.
The U.S. Federal Trade Commission will need to approve Kroger and Albertsons’ planned merger, and that agency has taken a skeptical view of corporate consolidation in recent years.
Which brands are most popular among Gen Z? That question was examined in depth in a recent Morning Consult report. And, included among social media brands like TikTok and gaming entities like Twitch, plenty of …
Regional grocer Wegmans will complete its mission to eliminate plastic bags companywide by the end of the year. Now, the question remains: Will other U.S. grocers follow suit?
Companies like McDonald’s are allowing workers to access hourly pay on demand in the hopes of shoring up the ongoing labor shortage.
The trend of pure play grocers struggling has flipped since 2020, with supermarket stocks for grocers like Albertsons holding their own.
Who doesn’t love a bargain? Consumers likely will be in luck this summer as retailers, whose inventories have swollen largely due to the pandemic and shifts in buying behaviors, try to rationalize their stocks amid …
In a recent Barclays conference call, a team of analysts discussed the success of gig delivery and how it could become a compelling offering for retailers. Here’s a look at the key takeaways from the …
As they brace for what’s expected to be intense holiday demand, warehouse operators are boosting pay, acquiring more talent, and enlisting robots, reported The Wall Street Journal (Sept. 26). TALENT ACQUISITION PUSH Demand for distribution …
A detour to the grocery store on the way home from work used to be just part of the daily grind, but all that has changed, and Amazon’s entry into the grocery business is moving …
Dealing with a shallow labor pool, major companies are increasingly turning to creative – and, in some cases, controversial – measures to attract new hires. Here’s a look at some unique moves made recently along …
As the calendar turns to National Dog Day, it’s apparent as ever that food and beverage companies are catering to pets these days. BEER BRANDS CATERING TO DOGS Is American beer going to the dogs? …
Walmart plans to open up its in-house delivery platform, Spark Driver, to other businesses. The retailer is doing so to allow the independent contractors out delivering Walmart merchandise to make additional deliveries along the way, …
This week, in The Food Institute’s quick-hitting, audio news podcast, we examine how consumers are stocking their pantries due to the Delta variant, the restaurant industry’s recovery, and more. The Food Institute Podcast · FI …
Hiring and retaining employees has been a battle throughout the coronavirus pandemic, so companies are upping their game, waving perks like signing bonuses at workers. Now, the latest trend entails major employers like McDonald’s offering …
The statistics are staggering. According to a recent poll conducted by job site Monster.com, 95% of respondents were “currently considering changing jobs,” and 92% said they’d switch industries to get a new job. The top …
As COVID-19 eases in the U.S., retailers are preparing for business in a new, post-pandemic paradigm. Here are some recent highlights: Amazon Prime Day Amazon Prime Day always has a big impact on the company’s …
