17 Aug 57% of Grocers Expect Tech Spending to Increase in the Next 12-18 Months, According to EnsembleIQ’s Progressive Grocer and RIS News Grocery Technology Trends Study
First Shopper Perspective Companion Study Shows Retailers are on Target with Customer-Facing Tech
CHICAGO, Aug. 17, 2023 – The eighth annual Grocery Technology Trends Study shows that grocers who are investing in and prioritizing technology appear to be on the right track toward preparing for an increasingly digital future. Fifty-seven percent of grocers surveyed expect to increase their grocery technology spending in the next 12-18 months, and 65% feel well positioned to succeed in the digital future of grocery. The Study is produced by EnsembleIQ’s Progressive Grocer, the No. 1 grocery industry business intelligence provider, and RIS News, the essential source of information and insights to help retail executives do their jobs better.
Paula Lashinsky, Senior Vice President-Group Publisher-US Grocery & Convenience Group, EnsembleIQ said, “With inflation and an uncertain economic environment continuing to impact retail, grocers don’t have it easy in this ultra-competitive, increasingly digital environment. Despite these challenges, our study shows that retailers are making solid investments for the future and they are prioritizing the right customer-facing technology. This is a win-win for both grocers and customers.”
Other key takeaways from the Grocery Technology Trends Study:
Digital promotions will continue to play an important role in an inflationary environment. Sixty-one percent of retailers anticipate that digital discounts/promotions will be valued most by customers in the next 12-18 months.
E-commerce is expected to be one of the greatest growth drivers. Sixty-five percent of retailers expect delivery to drive e-commerce growth in the next 12-18 months.
Three-fourths of shoppers (75%) are open to trying new tech that makes the in-store shopping journey easier, but an equal proportion (73%) indicate that they enjoy the in-store shopping experience.
50% of shoppers said their top pain point when shopping online is out of stocks and a lack of variety/selection.
The first Shopper Perspective companion study shows retailers are developing customer-facing tech in the right places, particularly when it comes to self-checkout and mobile technology. For instance, 18% of shoppers said the most valued technology they are willing to try is smart carts.
The survey was fielded from grocery shoppers and qualified grocery retail executives who are knowledgeable about their company’s current use of technology and/or future technology strategies.
To download the 2023 Grocery Technology Trends Study, click here.
About Progressive Grocer
Progressive Grocer is the #1 business intelligence brand in the grocery industry, connecting the market’s most important retailers. Through its leading industry reporting, digital platforms, research, relevant and focused events and sophisticated industry database, retailers turn to Progressive Grocer for guidance in navigating the fast-paced, ever-changing industry.
About RIS News (Retail Info Systems)
RIS is the essential source of information for retail executives, connecting them with relevant content to identify top business solutions and strategies to make smarter IT and business decisions. Not only does the diverse and award-winning RIS portfolio provide retailers with access to the tools and intelligence they need to thrive, but it also connects them with their peers to share, learn, and grow as leaders. Benchmark research, exclusive industry coverage, innovative storytelling, and best-in-class events all provide today’s leaders with assets to grow their knowledge, profits, and productivity. RIS also produces weekly newsletters (subscribe here) and readers can follow on Facebook, Twitter and LinkedIn. To learn more about RIS News, visit www.risnews.com.
EnsembleIQ is the premier resource of actionable insights and connections powering business growth throughout the path to purchase. We help retail, technology, consumer goods, healthcare and hospitality professionals make informed decisions and gain a competitive advantage. EnsembleIQ delivers the most trusted business intelligence from leading industry experts, creative marketing solutions and impactful event experiences that connect best-in-class suppliers and service providers with our vibrant business-building communities. To learn more about EnsembleIQ, visit ensembleiq.com.
Brand Marketing Manager
Progressive Grocer & Store Brands