NEW YORK — Wegmans Food Markets seeks out suppliers who can give customers what they want before they realize they want it, says Chief Executive Officer Danny Wegman.
“We want products that are better than average. We want suppliers that are innovative,” Wegman said in a roundtable discussion at Food Marketing Institute’s Private Brands Summit, held here June 14-16.
Doing so means much more than asking customers what they want — rather, it means predicting their needs, he stressed.
“We believe in following our customers from a few steps ahead” by identifying innovation “clues” such as health, cost and taste preferences, Wegman said. “You can use the clues and establish best practices.”
This often means taking a risk, but the payoff is worth it, he said. “Whoever provides what customers want wins.”
Read More of Today's Headlines