Stockpiling May Again Disrupt Grocery Supplies
Rising overall prices due to inflation, severe weather, and supply-chain snags has led to reports of grocers stockpiling inventory to maintain profit margins. Now, the Delta variant and lingering pandemic concerns have increased the likelihood of a new round of consumer stockpiling. This poses an additional challenge to retailers and highlights the importance of adopting smart retail solutions that add operational efficiencies — from inventory control to pricing management.
A recent report noted that nearly 70% of adults surveyed are considering stocking up on shelf-stable groceries and essential products in the face of increasing Delta variant infections. Many still maintain a fuller pantry today than before the pandemic, with 65% saying that they plan to always have a stock of food and emergency supplies.
And, it's not just fear of a possible return to stock issues that were common during the early months of the pandemic — nearly 75% of polled shoppers said they currently experience shortages when they shop. This combination of consumer sentiment and continued supply chain issues presents a challenge to retailers who want to maintain a high level of customer satisfaction and grow shopper loyalty.
To meet this challenge, grocers must seize every opportunity to maximize store efficiencies. By harnessing the power of shopper and store data, grocers can better predict inventory needs and proactively plan pricing and specials to steer shoppers to items that are in stock. Smart retail solutions, such as the complete store management systems provided by STCR, provide a single platform that allows stores to manage scales, optimize prices, forecast demand, and intelligently manage inventory. From loyalty and targeted offers to seamless e-commerce and dynamic reporting, grocery stores today can access technology that keeps shoppers happy, even during supply chain strains.
Request your buyer's guide to learn more about STCR's smart retail solutions, and see how your store can leverage the most effective retail technology for success, today.