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Grocery Sector Rises to Meet the Challenges
For consumers, one venue in which sticker shock has been frequently incurred lately is the supermarket aisle. Placer.ai reports that inflation has hit the grocery segment particularly hard, with some estimates finding a year-over-year increase of 13.1% in grocery prices in July 2022.
“Supply-chain issues, labor shortages and growing competition have been further testing the sector’s resilience,” the analytics firm says in a new white paper. “At the same time, many leading grocers have found ways to thrive and continue driving visit growth despite the challenges.”
As a case in point, foot traffic to supermarkets during 2022 consistently outpaced 2019 levels for seven out of the past nine months, suggesting that the industry has succeeded in holding on to its pandemic gains. And while foot traffic slowed toward the end of the third quarter, “these declines are in comparison to impressively elevated visits in 2021,” the white paper states.
Placer.ai’s white paper analyzes how the grocery sector has met the challenges and maintained its resilience. Click on the link below to read more.
- ◦Economy
