2022 was a challenging year for many Americans dealing with soaring food prices due to inflation driving living costs upward, with some shoppers encountering sporadic shortages across a range of essential categories. Many may wonder, how does 2023 look for the grocery industry? Here are a few predictions that will shape the industry:
Recent Information Predicts Food Prices May Continue to Increase
According to the Consumer Price Index, which measures changes in the cost of consumer goods annually, the food-at-home index rose to 11.8% in the previous year, and inflation eased up in the past few months. However, research conducted by the U.S. Department of Agriculture predicts that food-at-home prices will increase by 3.0% – 4.0% in 2023.
Although food prices may increase in 2023, Save A Lot has a grocery licensing opportunity that empowers entrepreneurs looking to make a difference in their communities by helping them make healthy and affordable food accessible. As a Retail Partner with us, you’ll get a chance to take over your careers, earn more, and work according to your schedule while bringing value to your community.
Online Sales Will Stay Elevated
With the online shopping boom and increasing e-commerce sales, it’s no surprise that the online grocery store industry has seen tremendous growth in recent years, and the same is expected for 2023. The surge in online shopping created an expanded e-grocery market likely to last; 87% of shoppers are predicted to use digital ordering to make grocery purchases in 2023.
As a Save A Lot Retail Partner, you’ll be able to diversify your income streams by bringing everyday value to your customers with a platform created to allow them to place their grocery orders online, to be available for delivery within an hour.
Private Labels Will Continue to Grow
Private-label brands hit their stride in 2022 due to inflation pressures. Even with inflation tapering off, the penetration of private labels in the grocery store industry will continue to rise in 2023.
Save A Lot’s grocery store business license has a low-cost service model that ensures our award-winning private label brands are the keystone for Retail Partners. Our everyday low-pricing (EDLP) strategy and low-cost service model deliver savings on products our customers can’t find elsewhere! Our focus on private labels offers customers value on more than 50 high-quality exclusive brands and lower prices.
Save a Lot Stores Provide a Convenient Shopping Experience
Many customers believe in having a seamless shopping experience and are willing to pay for it. With everything going on in their lives, anything that can reduce their stress and make their shopping trip easier – feels like a victory.
At Save A Lot, we’ve been in the business for too long to know that operating smaller stores to offer value for high-quality products at a lower price and a more effortless shopping experience for customers makes the grocery trip worthwhile. Compared to traditional grocery retailers, Save A Lot Retail Partners benefit from lower overhead costs. Our limited Stock Keeping Units (SKUs) of 3,000 products make it easy for our customers to find what they need, thus reducing their shopping time.
Trends come and go, but a Save A Lot licensing opportunity is made for ambitious entrepreneurs looking for a great way to build a thriving business that brings undisputed value to customers’ lives!
Contact us today to learn more information about the 2023 grocery store industry trends and how to become a licensing partner with us.