While traditional grocery stores are holding their share of the food retail market for now, the most growth in the industry is coming from other channels.
On Wednesday, the Food Institute and consulting firm Willard Bishop presented the results of a study on the Future of Food Retailing, which found that overall traditional grocery sales increased 3.4 percent to $517.7 billion in 2012. Market share remained steady at 46.5 percent.
“They held share, but nobody has really grown particularly explosively at a top level,” Jim Hertel, managing partner of Willard Bishop, said.
Traditional grocers are those where two-thirds or more of sales are represented by foods or consumable products. Hertel said the majority will see slow growth ahead. Traditional grocery is now less than 50 percent and will continue to be that way, as the growth sectors create thinner slices of the overall pie for everyone.
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