The grocery store industry has been steadily growing for years and has remained stable despite numerous economic ups and downs. COVID-19 had a significant impact on the grocery industry, along with many others. Here, learn where the business stands in 2021, and what’s on the horizon.
Resilience Through Economic Downturn
The grocery store industry has steadily grown from 2016-2021. That’s not surprising, given that people rely on grocery stores more than just about any other business to keep their households running smoothly. Furthermore, in 2020 Save A Lot grew, even as many other industries struggled.
The reason for that is likely apparent to anyone who made it through the pandemic – even when restaurants and non-essential businesses were forced to close their doors, grocery stores were as busy as ever, supplying communities with the food, cleaning products, and other necessities that were in high demand.
If you’re considering investing in the grocery store industry, this is a perfect example of why it’s a relatively stable choice.
A Great Time to Choose a Discount Model
If it’s a good time to invest in the grocery store industry, it’s a great time to choose a discount model. Supermarkets are expected to grow a strong 4.4% through 2024, while discount grocery stores are projected to grow a whopping 4.9% in that same period.
That’s tremendous news for Save A Lot licensees. Our model perfectly fits this trend: smaller stores with carefully curated assortments allow our customers to find everything they need at highly competitive prices, without the inconvenience of navigating a superstore.
Choose Our Time-Tested Grocery Store Industry Model
Start your new business with a model that’s shown itself to be effective. Save A Lot stores maximize efficiency at every opportunity for customers as well as licensees. Smaller stores, strategic layouts, dedicated warehouses, and high-quality products make Save A Lot a regular destination for weekly shopping and quick trips. These advantages also make things easier for licensees, helping to streamline their costs and the opening process.
Whether you’re brand new to the industry or have prior experience, Save A Lot is ready to help you get started.
Contact us today to learn more about how these grocery store industry trends are likely to bolster our stores well into the future.