In the final edition of the year of the Retail Academy, we will focus on the changes we are experiencing in our stores.
We will also discuss how we must adapt to the new behaviors of our customers, including inflation in the markets.
According to major market studies, inflation has been causing very moderate consumption, even when compared to the COVID period.
At the Retail Academy, we continue to notice the impact of rising prices. As a result, our customers are becoming more selective about where they make their purchases.
All of this means that our customers are now much more conscious when evaluating their expenses and planning all their purchases.
They are looking for brands that offer added value without leading to high prices.
Table of contents
Retail Academy: What is the strategy of private labels?
Our customers now expect all of us to go the extra mile to overcome the inflation crisis, with significant consequences for profit margins.
With all the tools we, as supermarkets, can offer to remain competitive, one of the best is to grow and develop our private labels.
This involves negotiating directly with the manufacturer, eliminating all intermediaries.
The goal? To ensure our private-label products reach store shelves at the most competitive price on the market.
Additionally, these new strategies come with major technological investments to ensure demand planning through automated software.
The best part is that these solutions leave virtually no margin for error when it comes to product shortages in stores.
Retail Academy: Traditional Channels vs. Online Channels
While the vast majority of our Latino customers still visit physical stores regularly, online grocery shopping continues to grow.
New generations, such as Millennials, prefer online shopping.
We are aware that we must continue to improve the online experience for our customers, primarily focusing on delivery times.
Social Media and Influencers vs. Weekly Coupons
Another trend that is changing and will be very noticeable in the coming months is the disappearance of printed weekly coupons or offers.
With savings from printing these classic promotions, supermarkets can invest in sending promotions digitally, via text messages or social media.
Moreover, at the Retail Academy, we know that influencers can be used to attract customers of all ages and generations to our stores.
An exciting year awaits us in the supermarket sector, with many changes and innovations. I wish you all a happy holiday season with your families and loved ones.