Global supermarket food sales to reach $1.7 trillion by 2015
According to a new study, global food product sales through supermarkets are expected to reach US$1.7 trillion by 2015.
The report, Supermarkets: A Global Outlook by market research firm Global Industry Analysts, showed that food accounts for the majority of merchandise globally sold through supermarkets.
However, with changing consumer lifestyles and food habits, supermarkets are having to adapt their inventory stocking styles in the food aisles, according to a release.
As consumers look for choice, convenience an health products, supermarkets are offering more ready-to-cook meals, semi-prepared dishes, pre-sliced produce and single-serve or portion-sized packages.
Walmart continues to be the largest retailer, followed by France’s Carrefour, says the release. But South Korea, China and India are the fastest growing markets in supermarkets.
Discounters continue to get a bigger share of supermarket sales compared to traditional supermarkets.
Discounters are also offering their own-private label products to take advantage of price-conscious consumers.
Along with private-label products, the study found an increased preference for natural/organic food, free-range products, superfruits with antioxidants, energy drinks, ready-to-cook products and gluten-free goods.
Interestingly, when it comes to private label products, they’re gravitating towards superior and expensive private brands and labels along with discounted products at various warehouse clubs.
Private labels including AIPC, Treehouse Foods and Ralcorp are forecasted to increasingly gain market presence.
With competition among supermarkets intensifying, retailers are looking at more effective displays, and are using social media like Twitter and Facebook to promote their brands.
Consumers in the U.S., France, Canada, Germany, Japan, Turkey, South Korea and Italy are regularly downloading coupons on mobiles or computers.
Walmart has said they will deliver savings through social media and its in-store media network.
