UK Supermarkets need to evolve, says Infosys Retail Lead

351 Views

It’s clear that supermarkets are under pressure, and the effects of inflation are not set to end any time soon. With food prices predicted to surge 15% this summer, consumers will be spending smarter on their weekly necessities.

Grocery brands need to look at how to optimise their profit per square foot. Just increasing prices is no longer an option. We’ll see supermarkets create destinations – removing the goods that fail to produce profit and creating meaningful spaces inside their store – whether that be for an opticians, dentist, or beauticians. The key will be driving footfall to these huge store spaces, making the supermarket ‘multi-purpose’.

Technology will be key in supermarket survival. As worldwide food supply continues to be a cause for concern, with the war in Ukraine combined with production lockdowns in China and export bans on key food supplies, supply and demand balance will inevitably be harder to balance. This is where AI and analytics come into play to predict consumer trends to ensure supply to meet peaks in demand to avoid delays and disappointment.