Over the forecast period, the expansion of small store formats by key supermarket brands is expected to increase the pressure on food specialist retailers. These smaller supermarket store formats aim to provide consumers with greater convenience and ease of shopping.
Small format supermarkets are placing a heavy emphasis on providing consumers with new in-store services and localised customer service, mirroring the unique shopping experience of traditional food specialist retailers such as butchers, bakers and fishmongers. The small format supermarket brand Fresh Collective, which was launched in July 2017 by Foodstuffs, for example, offers made-on-the-spot smoothies, sushi, meal kits, an in-house butcher and an in-house barista.
Alcoholic drinks stores in New Zealand are expected to face increased scrutiny from local communities over the forecast period. Many local councils are proposing to reduce trading hours in an effort to reduce alcohol-related assaults and hospital admissions.
In 2018, Super Liquor Holdings continued to lead traditional grocery retailers in value terms, ahead of Liquor Centre Group, Foodstuffs (North Island) and Foodstuffs (South Island). The company’s lead in the channel can be attributed to its extensive store network.
Apart from growth in its outlet network, Super Liquor’s lead and strong performance can also be attributed to its frequent price promotions, such as its Weekly Specials, which appeal to price-conscious consumers. The company also benefits from having a wide range of products, which positions it as a one-stop-shop for alcoholic drinks.
Traditional grocery retailers in New Zealand are expected to face increased competition from players in modern grocery channels over the forecast period. With brand owners in supermarkets investing heavily in improving the customer experience and their offerings in terms of fresh, baked and packaged food, independent small grocers and food specialist retailers are finding it increasingly difficult to remain competitive.
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