TGR State of the Industry 2017: How Retailers are Staying Competitive with the Online World

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TGR State of the Industry 2017: How Retailers are Staying Competitive with the Online World

09/25/2017

By Anna Wolfe, Research by David Liss, Carbonview Research

 

 

In the seven years The Gourmet Retailer has conducted State of the Industry survey, retailers have commented about customers’ showrooming their stores and competition from online retail. This year was no exception.

Many retailers suspect their browsers are buying online, even on similarly priced or minimum advertised price (MAP) items.

“Customers are using us to learn about the newest products…, but go online to purchase as they do not want to carry it home from the store,” wrote one retailer.

This year we asked retailers to share how they’re staying competitive in the face of online competition. The responses were varied.

One retailer shared that his/her business has added in-store signage that compares its prices to those found online.

To attract more foot traffic, “We try to provide more events in the store. Education, sampling, hands-on activities things they can’t get online,” said one retailer.

Many retailers noted their prices are inline with the competition’s, and they are “increasing
brands not readily available online,” adding new products and stocking smaller sizes.

Others said they will be adding more products to their websites, and one retailer
said his/her store will offer a “more curated approach.”

One savvy retailer is doing video demos, “then adding the link directly to the website to
purchase the products to make that dish.”

Many retailers cited the importance of social media, especially Facebook and
Instagram, in helping them connect with their customers and drive traffic to their instore
events.

Read The Gourmet Retailer's full State of the Industry Report 2017 here and in the August/September issue.