Grocery Retail Sales Growth Not Keeping Pace With Inflation October 2nd, 2006
Inflation is expected to outpace sales growth for grocery retailers, according to a report presented by The Food Institute.
Six retail formats – four grocery retail, convenience stores that sell gas, and military outlets – will be impacted.
“This is a conservative estimate given that rising energy prices could push the inflation rate even higher,” said Jim Hertel, senior vice president and co-founder of Willard Bishop, in their report to The Food Institute.
Traditional grocery formats will also see continued market share erosion, according to predictions in the annual “Future of Food Retailing Report” produced by Willard Bishop.Key findings released in the study for 2005 include:
“Manufacturers need to embrace the changes that are taking place in food retailing today in order to succeed over the long term,” Hertel said. “Even if new and emerging formats aren’t ‘right’ for your products, these are the types of stores where Americans are increasingly purchasing their food and consumables.”
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