Progressive Grocer - August 2020

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Food & Grocery Retail is poised for a bright future. According to industry veteran Sanjiv Goenka, Chairman, Spencer’s Retail, the Indian online grocery market could exceed sales of US $3 Billion (about Rs 22,500 crore) in 2020, a substantial 76 per cent jump over the previous year.

But while the pandemic has opened the floodgates of opportunity, it has also altered consumer behavior radically. The focus on health and hygiene has intensified and consumers are turning to e-commerce for their grocery and essentials needs. Moreover, like in other retail segments, a growing preference towards Omnichannel shopping experiences has also been noted among modern consumers, ushering in a new normal for food retail that may become permanent.

In this issue of Progressive Grocer, we outline how Spencer’s is about to change the Indian grocery retail landscape as an early adopter of the Omnichannel model. The feature also reveals the strategies that the retail icon is banking on as well as insights on how it is working towards initiating innovative, out-of-store efforts to ensure customer experience.