In recent years, nearly every industry has faced challenges like increasing inflation and reduced consumer buying power. Supermarkets and grocers, despite being community staples, are not immune to these evolving economic landscapes. However, in the face of these challenges, grocers have shown remarkable adaptability and innovation, seeking new growth avenues within the constraints of tight profit margins, often ranging between 1%-3%.
By Maggie Paulk
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3 Ways QSRs, Grocers, and C-stores Can Focus on Sustainability
Quick-service restaurants, grocers, convenience stores, and other specialty retailers are expected to focus on sustainability and food traceability this year. Consumers now care more about their food, where it’s from, and how it is made, and more according to C-Store News. Here are 3 things to know to keep up with this trend in your business…
- Prioritize Sustainability
Consumers care about sustainability, a recent NielsenIQ study found that 78% of consumers prioritize a sustainable lifestyle. Additionally, being sustainable can prevent loss in your business and help to increase your margins. 3 ways you can improve sustainability in your business are…
Packaging- Opt for a more sustainable packaging option to reduce plastics that end up in the landfill.
Reduce Waste
- Waste reduction, specifically food waste in this industry, can help you lower your losses and increase your profit margins. There are companies who recycle food waste that you could also work to partner with.
Source Responsibly
- Try to source from places that are sustainable, the 78% of consumers who prioritize sustainability will look for local, organic, fair trade, etc. when it comes to food products. Additionally, consider sourcing more plant-based products to expand your plant-based menu options.
- Detailed Food Tracing
Being able to track food from a to z became vital during the COVID-19 pandemic, and is expected to continue to be an important consumer trend going forward. Being able to trace food through the supply chain allows companies to find the root cause of foodborne illness outbreaks, bad batches, or other issues and offer solutions to prevent these things from happening in the future. When consumers know that companies track, they may feel safer choosing to eat their food over another. Learn more about the importance of food safety for customers.
- Transparency with Customers
Since 78% of consumers prioritize sustainability, it is important to be transparent about the sustainability of your food products. Specifically, where they come from, how they are made, and how they get to your restaurant. With many companies competing to offer more and more clean, local, sustainable items, transparency is important now more than ever.
Improving sustainability in your foodservice as well as focusing on tracing your inventory throughout the food supply chain, can provide many benefits for your business. Keep these tips in mind as you make improvements to your business in 2023 and beyond!
