Food Retail Industry Trends: 2018
Retailers across industries are obsessing over ‘customer experience’ and its efficient delivery across multiple channels. Today food retail industry players have a certain new fervor about the future of customer experience, thanks to the recent technological advancements in this sector that are opening doors to new and innovative ideas which in turn have given rise to new retail industry trends. With the food retail industry’s new interest in redefining customer experiences, we thought it would be worth taking a look at the recent food retail industry trends.
Smart shopping: Home-based, smart assistants have a profound impact on the food retail industry. Indeed, such technological advancements there is expected to be a fundamental shift in the way consumers shop over the next few years.
Innovation in delivering products: In a bid to resist the continuous expansion of the e-commerce sector, food retail industry players are increasingly innovating the delivery process.
Going hyper-local: Global market players are increasingly focusing on particular tastes and preferences of local communities in order to offer tailored products to specific consumer groups.
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The client is a leading player in the retail industry in Canada.
Project Background and Solution Offered
A multitude of criteria defines the overall success of retailers across the globe. Unable to identify and leverage efficient strategies brick and mortar retailers are grappling with major challenges. Relentless pressure from online rivals and innovative specialty retailers along with sluggish economic growth rates have made it difficult for retailers to establish their global presence. Moreover, the ever-stiffening competition has eroded traditional food retail industry player’s profit margins, prompting them to cast about for wellsprings of new growth and enhanced profitability.
With the rise in challenges in the food retail industry leading players in this sector are increasingly capitalizing on new opportunities to revive market growth through cost synergies and mergers and acquisitions. Facing similar challenges the food retail industry client was looking at expanding into international markets to improve their product pipeline. They found immense potential in merging with peer companies to establish their presence in their region of interest. But before engaging in such mergers and acquisitions the food retail industry client wanted to perform synergy analysis to aid the process and to act as the backbone of their integration plan.
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Value Delivered to the Client
With the help of an in-depth synergy analysis, the food retail industry player was able to determine implementation risks that they may encounter while executing the proposed synergies. This synergy analysis engagement included a detailed review of- synergy proposals underpinning the deal, the cost, and the implementation of new strategies.
Also, with the help of synergy analysis solutions the food retail industry client was able to outline the implementation plan that included a forecast of the actions, associated costs, and profit impact in the post-completion months. As a result of synergy analysis, the client can now effectively manage strategic trade-offs while continuing to expand and leverage synergy opportunities to position themselves for long-term success.