Food Retail Industry Overview
Among multiple segments within the retail industry, the food retail sector has surfaced as the most dynamic and fast-paced sector with several players venturing into this marketplace. The global food retail industry is witnessing considerable growth owing to altering customer preferences, a radical shift toward online shopping, and a rising global population. Although the food retail industry is witnessing considerable growth, owing to the growing demand from the end-user segment, some prominent factors may curb the growth of the food retail industry. They include:
Storage and delivery costs: Typically, perishable items require more investment in storage and delivery infrastructure.[spacer height=”5px”]
Inefficient delivery: Today, online food retail players are finding it increasingly difficult to break the threshold called hyper-local segments with one delivery system, especially when the customers expect same-hour delivery.
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Why Do Businesses Need to Analyze Current Market Trends?
Engagements that focus on identifying current market trends examine the statistical data and recorded market behavior over a defined period of time and generates relevant insights for future business plans. It helps distinguish the dominant traits of the market and the consumers associated with it. Moreover, the global market trends help make predictions for the future. Now let’s look at the factors that need to be considered for efficient trends analysis:
- Industry cost factors – Analyzing consumer behavior with regards to switching prices plays a vital role in market research. The cost factor comes into play if a similar product is available in the market at an economical cost.
- Changing dynamics of the market – Businesses need to analyze trends with regard to innovation in products, market competition, variations in operations and delivery methods.
Why Infiniti Research?
Established in 2003, Infiniti Research is a well-known market intelligence solution provider, offering smart solutions to address your business challenges. We have been instrumental in providing a complete range of competitive intelligence, strategy, and research services for over 550+ organizations across the globe.
Interested to know more about our solution portfolio for trends analysis solutions and how it can help companies in the food retail industry? Continue reading or Request a FREE proposal.
Predicaments Faced
With rising urbanization, the food retail industry client wanted to tailor their product offerings to precisely meet the needs of the target customers. By analyzing the global market trends in the food industry, the client wanted to make better purchasing decisions and persuade the target customers to purchase their products. By leveraging Infiniti’s expertise in analyzing global market trends, the client wanted to identify the niche and profitable market segments and modify business processes to tailor their marketing efforts around the customer needs.
Solutions Delivered
The marketing intelligence experts at Infiniti Research carried out extensive research comprising of interviews and discussions with stakeholders in the food retail industry. Current trends analysis on the food retail industry helped the client ascertain the demand for the products and services and judge the market’s likely response to a new entrant. In addition, the food retail firm was able to gain a quick and concise view of the current market trends to make better decisions on their product positioning and marketing strategy. Moreover, the trend analysis solutions aided the client gain insights into the potential bottlenecks while entering niche market segments and anticipate risks with new product developments.
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