San Jose, Calif. (PRWEB) — Worldwide grocery retail industry witnessed several trends that are anticipated to shape future growth patterns of the market. Introduction of the new retail formats (such as superstores), improvement in customer service and store design, incorporation of innovative technologies, and focus on selling ethnic and organic products are some of the trends witnessed in the industry. Although the demand for basic grocery supplies remains unaffected by the economic fluctuations, premium/luxury food products are extremely vulnerable to the changing price dynamics. Also, general economic conditions play a critical role in determining the consumer’s ability to spend on products – both basic and luxury. Consumers’ disposable income is a major factor affecting the prospects of the global retail industry, particularly in case of premium products.
Food and groceries constitute an overwhelming proportion of merchandise sold globally through supermarkets. This inventory stocking phenomenon is especially pronounced in the industrialized and developed countries, where supermarkets have transformed into harbingers of food security and quality. In response to the growing competitiveness of the market, large-scale retailers are devising new strategies (home meal replacements along with non-conventional services) to distinguish themselves from conventional grocery outlets and restaurants. On the other hand, Grocery Stores are looking to consolidate their market presence by offering new services such as home delivery. Several large-scale grocery stores are also offering conveniences like in-store pharmacies as part of their efforts to generate higher profits and attract more number of customers.
Online grocery stores constitutes one area of the grocery retail industry that is expected to provide vast opportunities for growth. The Internet is being increasingly employed by retailers to sell grocery products directly to consumers. The concept has gained widespread popularity in the western world, particularly in the US, the UK, and France. Although few retailers provide general information about the store operations, a majority of them are offering full-range of online grocery services through the Internet. Although the segment faced initial hurdles in several countries, including the US, the segment is expected to post major gains across the world, with several leading companies focusing on promoting their online businesses.
Retailers from the emerging markets, such as Asia-Pacific and Latin America, are witnessing the fastest growth in the global grocery stores market. Such retailers are expected to continue registering rapid growth, driven by their aggressive expansion into neighboring countries.
The research report titled “Grocery Stores: A Global Outlook” announced by Global Industry Analysts Inc., provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report offers a rudimentary overview of the industry, highlights latest trends and demand drivers, in addition to providing statistical insights. Regional markets briefly abstracted and covered include the United States, Europe, Asia-Pacific, and Rest of World. The report offers a compilation of recent mergers, acquisitions, and strategic corporate developments. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of companies worldwide.
For more details about this comprehensive industry report, please visit – http://www.strategyr.com/Grocery_Stores_Industry_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.