Grocery in the Time of Pandemic
As 2019 ended, retail in the US was wrapping up a very successful Christmas shopping season where AirPods, big-screen TV’s, and Disney+ subscriptions were among the leading products sold. This concluded a very successful overall year that saw US retail sales grow 3.5% over 2018, which was an excellent year with 5.5% growth.
Grocery and mass merchants were doing a bit better than average during the beginning of 2020 with growth rates around 8%, much higher than the 3% growth that they saw in 2019. And then COVID-19 happened, and the entire landscape changed nearly overnight.
During a 20-day period during the end of March, these retailers experienced a surge like a typical Christmas, with sales jumping 70% or 80% in a year-to-year basis for the same weeks as consumers panicked in their search for toilet paper, wipes, cleaning supplies, and frozen pizza. Sales in certain categories rose by over 600%.
Where does technology fit in? What solutions have staying power? Where are retailers losing their shirt with new customer journeys. This research reveals solutions that are best to consider both in the near term and for the next decade.
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