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The Digital Transformation of The Grocery Business - Driven By Consumers, Powered By Technology, and Accelerated By The Covid-19 Pandemic
Companies are increasingly looking for ways to understand and profitably leverage digital transformation with a vast amount of new communications and computing technologies. Despite the potential for digital transformation to generate substantial economic benefits, very few businesses have under-gone successful digital transformations. However, evolving consumer attitudes and behaviors, technological advances, new competitive pressures, and laser thin margins, accelerated by the COVID-19 pandemic, are driving digital transformation in the grocery business. Brick and mortar, e-commerce companies, as well as new start-ups, are making major investments in all aspects of the digital grocery ecosystem— the online shopping experience, automated picking, delivery, and the digital supply chain. Retailers are connecting their investments to enhanced customer loyalty, revenue, and ultimately profit. This will result in a significant transformation of the grocery industry into the future.