Jul 16, 2024

Insights from FMI Speaks 2024 and the Tech Directory

By: Doug Baker, Vice President, Industry Relations, FMI

Enhanced Technology

The grocery retail landscape is rapidly evolving, and technology is pivotal in transforming operations and customer experiences. The Food Retailing Industry Speaks 2024 (Speaks) and the FMItech Directory are invaluable resources for retailers looking to navigate this technological shift.

The Food Retailing Industry Speaks 2024: A Comprehensive Industry Overview

Speaks offers a detailed analysis of current trends, challenges and opportunities in the grocery retail industry. A standout theme in this year's report is the substantial investment grocery retailers are making in technology. These investments cover a wide range of areas, including enhancing the in-store shopping experience, optimizing supply chain operations and leveraging data analytics for informed decision-making.

Key Technological Trends
  1. Artificial Intelligence (AI) and Data Analytics: Retailers use AI to refine pricing, manage inventory and personalize customer experiences. Data analytics aids in understanding consumer behavior, improving demand forecasting and making data-driven decisions that boost efficiency and profitability.
  2. In-Store Technologies: Innovations such as smart shelves, digital signage and automated checkout systems are now common. These technologies enhance the customer experience by reducing wait times and improving product availability while providing valuable data for store management.
  3. E-commerce Integration: The COVID-19 pandemic accelerated the shift to online grocery shopping. Retailers are focusing on integrating online and offline operations to provide a seamless omnichannel experience, investing in robust e-commerce platforms, efficient delivery systems and click-and-collect services.
  4. Workforce Management: Technology streamlines workforce management with automated scheduling, task management systems and employee training platforms, improving productivity and employee satisfaction.
The FMItech Directory: Connecting Retailers with Tech Solutions

The FMItech Directory is a vital tool for retailers seeking to implement these technologies. The directory provides a comprehensive list of technology solution providers catering to the food retail industry. It covers various categories, including supply chain management, customer engagement, e-commerce solutions and data analytics.

How to Use the FMItech Directory

Create Listings: Both FMI members and non-member service providers can create free company listings in the FMItech Directory, which features partners and suppliers focused on technology for automation strategies, e-commerce, supply chain, food safety and more. To get started, watch this video or download the instructions.

Find a Tech Partner: Retailers can search the directory to find partners that meet their specific needs. Each listing includes detailed information about the provider's capabilities, past projects and contact information, enabling retailers to make informed decisions. Whether a retailer is looking to enhance their digital presence, improve in-store technology, or streamline their supply chain and sustainability efforts, the directory offers many options.

Staying ahead of technological trends is crucial in the grocery retail industry. Speaks provides a comprehensive overview of how retailers leverage technology, while the FMItech Directory provides a gateway to finding the right partners to drive innovation. By embracing these resources, grocery retailers can enhance their operations, meet changing consumer demands and secure a competitive edge in the market.

The Food Retailing Industry Speaks 2024    Explore the FMI Tech Directory