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The retail revolution

Retailers must keep up with the times as technology and data analytics turn shopping into a largely stay-at-home exercise

Published Fri, Aug 16, 2019 · 09:50 PM

MOST people enjoy shopping. Saturday afternoon at the shops used to be something of an outing for the family. The exercise involved in walking through a town or mall was worth half an hour in the gym.

Rise of the supermarket

Then came the supermarket, which changed the shopping outing, but there was still a good walk and possibly coffee at the in-store cafe. The shoppers were changing, too. Longer life and more money gave them opportunities they had never thought of and needs for their ageing bodies they hadn't imagined could exist. Time previously spent at the fishmongers, butchers and greengrocers was now spent at the chemists choosing OTC remedies or waiting for prescriptions to be filled.

Buying power moved from the consumer into the hands of the supermarket chains, which demanded bigger and bigger discounts on the quoted price from their suppliers. It benefited the consumer but led to limited goods offered. The retailers presented their "own label" goods, usually cheaper versions of the most popular brands. I knew one factory where additives such as tomato ketchup were a standard product and pack. You could have your own label on it but the contents were identical to everyone else's. On this basis the product runs could continue indefinitely with only an occasional label change…

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