Some closing thoughts for grocery in 2024

With Covid mostly in the rearview mirror, there was a big jump in 2024 regarding people’s willingness to relocate for job opportunities. There are several byproducts of this with two being interrelated – competition for talent rises and salaries increase.

Retail grocery continues to advance at unprecedented rates regarding its pursuit of improvements throughout the value chain. The year 2025 will see the highest performance requirements in history for the most pivotal functions.

The blocking of the proposed Kroger, Albertsons merger will have industry changing and long-lasting aftereffects. I plan to keep an eye on what comes next in grocery M&A.

Public opinion often affects political policy, which is why so many spend so much effort and dollars to shape the opinion of the public. Within retail grocery, this can clearly be seen in the case of the Kroger, Albertsons deal.

What has been true over time is still true today. In competition, it’s better to spend most of your efforts on internal improvements than to focus on external factors that are beyond your control. Warren Buffet once said that what’s more important than knowing your circle of competence is knowing where your perimeter is.

Retail grocery has been in the headlines for the 12 months mainly due to the media and covering the 2024 election. While no industry ever gets 100% positive coverage, what a great time to use that magnifying glass to show customers what distinguishes you from the competition.

While we do live in a consumer economy, we are an energy driven economy. Energy is the means in which all our lives and advancements depend upon. Moreover, the costs associated with energy are one of the first things that can drive prices up or down in everything we do or buy. Look for the title and exclusive function of “Energy Management” to appear more in retail grocery in 2025 and beyond.

For purposes that seem to benefit all politicians, food and energy prices are not calculated in the inflation numbers of the Consumer Price Index.

Inflation seems to have the following tiered effects on people in first world countries – For a few, little to no effect. For others, inconvenience/irritation, with some effects in buying patterns. The last group has major changes in their buying patterns/abilities. The majority of the population in first world countries make up the latter two tiers. 

Media, analysts, and pundits trying to explain what happened in the 2024 election should recall their world history. From the American Revolution, the French Revolution, followed by the dismantling of European monarchs and through the present day, the working class (in a free or semi free society) eventually has its voice heard when it feels it’s being ignored.  Over history, hundreds of thousands, if not millions, of lives have been lost in these “revolutions” by the working class. What just happened has occurred time and time again, only with no guillotines nor firing squads. An advancement by any measure.

Have a Merry Christmas/Happy Holiday all.