Jan 17, 2025
Six Key Trends Set to Shape the Future of Grocery Retail
In a new report from the IGD six key trends were identified, that we need to be cognisant of as we go into 2025:
- Optimising retail fundamentals for success
- Exploring new revenue streams
- Evolving store formats for greater flexibility
- Seamless connected commerce
- Health and wellness products leading the charge
- Accelerating sustainability commitments
One key trend that needs consideration by Account Managers is ‘Exploring new revenue streams’. The IGD commented; “…As operating costs rise, UK retailers are diversifying their revenue sources by leveraging e-commerce technology, data monetisation, and B2B services.”
Revenue streams are delivered by the retailer’s commercial teams, therefore customer account teams should be prepared for challenging requests for all the activities they request in order to drive sales and growth. As part of the preparation, account teams should plan GSCOP training!
The Grocery Supplies Code of Practice (GSCOP) is designed to ensure fair and lawful trading with the 14 Designated Retailers.
Are your account teams ready for the challenge, of maintaining strong relationships whilst having tough discussions with their retail counterparts?
Knowledge of the support offered by GSCOP regulation could be vital to your success. Make sure that your teams are ‘Code Confident’.
To support your customer and legal teams, the British Brands Group provides a range of functional training with courses covering GSCOP, Competition law and compliance and Trading with Amazon. All feature a strong commercial bias, being about understanding and application in the trading world. This training is available as Classroom or Virtual offerings.
These courses receive excellent feedback, scoring highly with attendees (4.5 or more out of 5.0) who state they would recommend the training to their colleagues.
