Jun 11, 2014

WITH A GLIMPSE INTO WHAT’S AHEAD FOR FOOD RETAIL

JUNE 11, 2014 – CHICAGO, IL — Attendees at the 2014 FMI Connect have been provided a glimpse into the future of food retail as well as ideas to help grocers begin preparing for it.

The Retail Experience of the Future (RETF) exhibit, which debuted today, provides FMI Connect attendees with a preview of how current research, trend analysis and future-focused leaders suggest the world of food retail is expected to change in the next ten years, and a presentation of ideas for enhancing the shopping experience and adapting effectively to the changing landscape.

“The goal of the RETF initiative is to provoke thought, create conversation and inspire optimism among FMI Connect attendees about the possibilities ahead,” said Leslie G. Sarasin, president and CEO, Food Marketing Institute.  “The exhibit serves as an informed observation of where consumers, food, marketing and technology are headed, and what that may mean for the food retail industry in the future”.

The entry corridor to the RETF exhibit focuses on the consumer of the future.  Based on research commissioned by FMI, attendees will experience the shopping needs and desires expressed by four distinct types of consumers.  The main area of the RETF exhibit features a series of “what if” scenarios and vignettes with a structured focus on the following key elements:

  • Stores will become emotional destination;s
  • The store floor will come a “hyper showroom” to help shoppers become smarter consumers;
  • Stores will enable micro-personalization on a macro-scale;
  • Retail’s role in its shoppers’ well-being will increase;
  • The store environment will become highly responsive;
  • Store associates will become shopper advocates; and
  • Technology will enable the experience without interrupting it.

“The power of the Retail Experience of the Future exhibit is the opportunity it provides to discover, experience and discuss the changes that are coming to our industry and contemplate how our future success as food retailers will be determined by our ability to adapt and meet the evolving needs and wants of our customers,” said FMI Connect chairman Randy Edeker, chairman, president and CEO of Hy-Vee Food Stores.

The Retail Experience of the Future is sponsored by American Express, Coca-Cola Refreshments, the Hershey Company, Hussmann Corporation, Innovation Center for U.S. Dairy, My Web Grocer, PwC, SAP, The SupermarketGuru.com, and Tesser, Inc., the lead architect on the project.

“FMI is grateful to the sponsors of the RETF for making this visionary endeavor a reality.  Their commitment of time, expertise and resources enabled this initiative to be a direction-setting glimpse of the future for the food retail industry,” said Sarasin.

Along with the debut of the RETF exhibit today at FMI Connect, FMI has also published the RETF Digital Magazine, designed to memorialize the presentation of information and ideas, and to underscore the importance of this initiative to the industry.  The RETF Digital Magazine also features perspectives and insights regarding the future from senior leaders representing the RETF sponsor partner organizations.  http://www.retailexperienceofthefuture.com  

About FMI

Food Marketing Institute proudly advocates on behalf of the food retail industry. FMI’s U.S. members operate nearly 40,000 retail food stores and 25,000 pharmacies, representing a combined annual sales volume of almost $770 billion. Through programs in public affairs, food safety, research, education and industry relations, FMI offers resources and provides valuable benefits to more than 1,225 food retail and wholesale member companies in the United States and around the world. FMI membership covers the spectrum of diverse venues where food is sold, including single owner grocery stores, large multi-store supermarket chains and mixed retail stores. For more information, visit www.fmi.org and for information regarding the FMI foundation, visit www.fmifoundation.org.

The Food Marketing Institute’s (FMI) newly envisioned tradeshow, FMI Connect, offers attendees a global food retail experience June 10-13, 2014 in Chicago. FMI Connect provides solutions to growing basket size; increasing customer trips; improving margins; increasing market share; and developing leadership. FMI Connect is the only food retail showcase with something for every aspect of the food retail business: From consumer goods to capital goods, fresh produce to fresh ideas.

In 2014 FMI Connect will be co-located with United Fresh 2014 and PMMI Retail Brand Zone: Future Innovations in Packaging. www.fmiconnect.net.

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