Supermarket Perimeter - May 2022 - 6

the
WIRE
Instacart gives
retailers access to
its technology
San Francisco-based
Instacart's latest
innovation gives
retailers access to the
technologies behind
Instacart's consumer
marketplace to power
their own digital
properties and retail
operations.
Instacart Platform
brings together the
technologies retailers
need to improve the
consumer experience
online or in-store and
digitize the end-to-end
grocery operation,
according to Instacart.
Some retailers will
choose to use some of
these technologies a-lacarte,
while others might
benefit from having all of
these solutions on one
connected platform that
works seamlessly across
channels. Instacart
Platform is comprised of:
E-commerce:
E-commerce storefronts
custom-built for
grocers and a-la-carte
recommendation
and merchandising
capabilities.
Fulfillment: Solutions
for grocers to do online
delivery and pickup from
stores or warehouses,
from 15-minute ultrafast
to next-day delivery.
In-store: Digital
integrations and
connected hardware to
enhance the brick-andmortar
store experience,
from scanless carts to
technology that helps
manage operations.
Ads: Advertising
solutions to help brands
connect and engage
with consumers in the
digital aisles.
Insights: Data tools to
help retailers optimize
operations, provide more
connected experiences,
and make informed
business decisions.
FMI releases first
of six '22 shopper
trend reports
Arlington, Va.-based
FMI - The Food
Industry Association,
in partnership with
The Hartman Group,
has released the first of
six reports in its 2022
U.S. Grocery Shopper
Trends Series.
The first report
focuses on the shopper
landscape and finds
Americans are balancing
a mix of concerns,
including their health
and safety as it relates to
COVID-19, higher food
prices and out-of-stocks.
As of mid-February,
48% of shoppers report
being extremely or
very concerned with
COVID-19, which is the
lowest level of concern
measured since the
pandemic began but
down only slightly from
October 2021. At the
same time, more than
half of Americans cite
their worries about rising
food prices, and 45% are
concerned about out-ofstocks.
Consumers report
their weekly grocery
spending has gone up
by 4% compared to early
last year and the majority
(72%) of those who
have noted increased
spending point to rising
prices on specific items
or brands as the cause of
the increase.
6 - MAY 2022
supermarketperimeter.com
The majority (86%)
of shoppers who are
worried about rising
food prices are making
behavior changes,
including looking for
deals (59%), making
substitutions or product
changes (58%), changing
where or how they buy
groceries (48%) or buying
more store brands (35%).
Other reports in the
series and their release
dates include:
* May - Shopping
Trends 2022
* June - Navigating a
Hybrid World
* July - Future Outlook
* August - Back
to School
* October - Holiday
Shopping
Three in four
consumers to
buy plant-based
in next year
Three in four consumers
surveyed by the Chicagobased
consulting firm
Kearney said they are
likely to purchase plantbased
alternatives in
the next year. For the
remaining 25%, price and
taste were the primary
barriers to adoption.
Kearney also found
that a 1% decrease in
price could result in a
3% increase in market
share for plant-based
patties. With this data it
estimated that achieving
price parity could expand
some subcategory
market share by
up to 20%.
Major plant-based
industry players may
be closer to matching
conventional meat prices
than many retailers
believe, he added.
Impossible Foods last
year dropped prices by
15% to 20%, while
Beyond Meat announced
a goal to underprice
animal protein in at least
one category in the next
two years.
Kearney expects it will
take plant-based protein
five to seven years to
reach price parity at
the current rate, but the
impact of inflation on
animal-sourced protein
may accelerate that
timeline. While plantbased
alternatives have
yet to feel inflationary
pressures, and in fact are
largely cheaper today
than they were a year
ago, prices for animal
meats have increased
by more than 10%
year-over-year.
INSTACART, BEYOND MEAT
https://www.foodbusinessnews.net/articles/17834-impossible-foods-reduces-price-of-impossible-burger http://www.supermarketperimeter.com
Supermarket Perimeter - May 2022

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