The summer shopping boom

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The latest numbers from Kantar today reveal that supermarket sales rose by 2.2% in the last 12 weeks as consumers search for cheaper, frozen and canned alternatives that have a longer shelf life to ease costs. The surge in sales we’ve seen has been boosted by the warmer weather, with consumers shopping for summer essentials despite the bite back of inflation, purchasing items like mineral water and ice cream, and summer clothing.

Despite sales rising by 19.7% this month, retailers need to be more agile. The summer is nearing a close, and colder months mean an inevitable dip as the increase of energy bills squeeze consumer spending. Retailers can ease this pain by realigning store ranges with consumer demand with intelligent stock management. Retailers should also be focusing on their price match schemes to stay competitive, whilst negotiating hard with suppliers to keep prices down.

Fashion retailers need to be even more careful with the right inventory planning, pricing, and promotion strategies as they are particularly vulnerable to risk, owing to seasonality. Right now, it’s the peak of holiday travel season based-demand, but they need to avoid their cash being blocked in the wrong inventory later down the line.

Utilising technology will be the ‘make or break’ to supermarket survival. As worldwide food supply continues to be a cause for concern, supply and demand balance will inevitably be harder to balance. This is where AI and analytics come into play – to predict consumer trends and ensure supply to meet peaks in demand for goods proving particularly popular.