The pandemic has upended norms for modern grocery retailers in 2020 and 2021. Stock buying has been particularly disrupted.
The pandemic has led to a marked change in consumer behaviour, with the rising preference to travel as little as possible to shop for groceries the most important for this category. In theory, this trend should have benefited small traditional retailers, but most of these several only accept cash payments.
Many store openings that had been planned for 2020 have been pushed back to 2021, allowing modern grocers to have a strategic rethink if need be. New entrants are increasingly seeking ways to differentiate themselves.
As consumers increasingly become more comfortable with shopping online, modern grocery retailers are expected to invest more in their online operations. Grocery sales via e-commerce in Costa Rica have historically been underdeveloped, with most retailers seeing them as complementary to the stores; the pandemic has changed this.
Even though consumers feel more comfortable going to physical retail locations in 2021 than they did in 2020, hyperlocal delivery services have provided such an easy purchase experience that consumers have begun to rely on this service more, and are beginning to expect their retailers to not only be present, but also offer promotions through these platforms. The appearance of more modern retailers in this group of stores is set to rise.
Competition from an unexpected direction is likely to emerge more strongly over the forecast period. PedidosYa, a third party delivery service that prospered during lockdown, launched its own e-commerce site for groceries in 2021, and other delivery apps are expected to follow.
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Modern grocery retailing is the aggregation of those grocery channels that have emerged alongside the growth of chained retail. For Euromonitor, modern grocery retailing is the aggregation of five channels: Hypermarkets, Supermarkets, Discounters, Forecourt Retailers and Convenience Stores. While there can be traditional (i.e. non-chained) supermarkets or forecourt retailers, for example, due to the store's presence in the channel, these stores are still considered as modern for Euromonitor International.See All of Our Definitions
This report originates from Passport, our Modern Grocery Retailers research and analysis database.
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