As people avoided in-restaurant dining during COVID-19 and stayed at home, grocery stores have been the beneficiaries.
Once things return to normal, this momentum could be lost unless they retool for the strategic challenges ahead, according to a report from Bain & Co. In fact, the sector could be facing several challenges in the year.
"The dilutive shift to online grocery has accelerated, and omnichannel leaders are locking in shoppers to subscription services," according to the Bain report. "Discounters continue to build stores, lowering prices and squeezing margins. Consumers still want more convenience, more value, more environmental and social impact. Restaurants—such an easy alternative to eating in before Covid-19—will regain traction at some point."
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
