The eighth annual Grocery Technology Trends Study shows that grocers who are investing in and prioritizing technology appear to be on the right track toward preparing for an increasingly digital future. 57 percent of grocers surveyed expect to increase their tech spending in the next 12-18 months, and 65 percent feel well positioned to succeed in the digital future of grocery. The study is produced by EnsembleIQ’s Progressive Grocer and RIS News.
Paula Lashinsky, senior vice president and group publisher for EnsembleIQ said, “With inflation and an uncertain economic environment continuing to impact retail, grocers don’t have it easy in this ultra-competitive, increasingly digital environment. Despite these challenges, our study shows that retailers are making solid investments for the future and they are prioritizing the right customer-facing technology. This is a win-win for both grocers and customers.”
Other key takeaways from the Grocery Technology Trends study include:
- Digital promotions will continue to play an important role in an inflationary environment. 61 percent of retailers anticipate that digital discounts/promotions will be valued most by customers in the next 12-18 months.
- E-commerce is expected to be one of the greatest growth drivers. 65 percent of retailers expect delivery to drive e-commerce growth in the next 12-18 months.
- Three-fourths of shoppers (75 percent) are open to trying new tech that makes the in-store shopping journey easier, but an equal proportion (73 percent) indicate that they enjoy the in-store shopping experience.
- 50 percent of shoppers said their top pain point when shopping online is out of stocks and a lack of variety/selection.
- The first Shopper Perspective companion study shows retailers are developing customer-facing tech in the right places, particularly when it comes to self-checkout and mobile technology. For instance, 18 percent of shoppers said the most valued technology they are willing to try is smart carts.
The survey was fielded from grocery shoppers and qualified grocery retail executives who are knowledgeable about their company’s current use of technology and/or future technology strategies.
To download the 2023 Grocery Technology Trends study, click here.