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AI-Driven Transformation in Grocery

Charting the AI-Driven Transformation in Grocery

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Date of PublicationSeptember 13, 2023
GeographyWorldwide or by Region
LicenseEnterprise-Wide Internal - Subject to Fair Use License
FormatAdobe PDF

Introduction:

In this study IHL forecasts the impact that AI, Machine Learning and generative AI will have on the grocery market through 2029. It not only includes forecasts, but best practices, some case study examples and key insights for which areas of the income statement will be most impacted by AI.

Product Overview:

The transformation of the grocery industry is no longer a future concept; it is happening now. With the convergence of technology, data, and the evolving needs of consumers, the industry is at the brink of a revolution, and artificial intelligence (AI) and machine learning (ML) are at the core of this change.

Today, the traditional grocery basket is no longer a mere tool for carrying products from aisle to checkout. It has become a symbol of a sophisticated, interconnected system that crosses channels from in-store to mobile to pure e-commerce. While the pandemic radically changed consumer preferences for fulfillment, AI-driven technologies are now paving the way for improved efficiency, personalized shopping experiences, and optimized delivery of those products to consumers.

This study forecasts that impact for these different AI tools in the grocery segment. We practically look at the data first as potential sales increases. Next, we look at the potential for greater efficiencies and lower product costs. Finally, we review the potential impact to grocers in lowering sales and general administrative expenses.

Included are also some case examples and recommendations.

This is part of several AI product that IHL has recently released.

For access to the complete AI Forecast Model from which this data is derived, click here  

For access to the detailed AI Readiness Index that ranks retailers by AI Readiness and potential financial impact specifically, click here.

This Research Is Free Thanks to Our Distribution Partner:

AWS for Retail

 

 

This product is free. We would ask that you adhere to our license agreement with regards to quoting sections of the research. Our full license agreement may be found below.

IHL Group License and Fair Use Agreement

All of IHL Group’s generally available research are electronic licenses and can be shared freely within the purchasing organization and wholly owned subsidiaries. We only ask that this information not be shared with partners or others outside the purchasing company without authorization from IHL Group. The license does not extend to joint ventures or other partnerships. If the relationship is not a wholly-owned subsidiary, then both parties would need a license.

Practically, this implies the following:

  1. The purchasing company can use the data and research worldwide internally as long as the international organizations are wholly owned subsidiaries of the purchasing company.
  2. The data or any research cannot be distributed in whole or in part to partners or customers without express written approval from IHL Group.
  3. The purchasing company may quote components of the data (limited use) in presentations to customers such as specific charts. This is limited to percentage components, not individual unit information. Unit data cannot be shared externally without express written approval from IHL Group. All references to the data in presentations should include credit to IHL Group for the data.
  4. The purchasing company can reference qualitative quotes in printed material with written approval from IHL Group.
  5. All requests requiring written approval should be submitted to ihl(at)ihlservices.com and will be reviewed within one business day.

For any questions regarding this policy, please contact us at 1-888-IHL-6777 (North America) +1.615.591.2955 (International) or email us at ihl(at)ihlservices.com.

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