Groceryshop 2022: Five Top Takeaways For Digital Commerce and Marketing

Retail is constantly evolving. Building a solid foundation for your strategy while understanding the multi-dimensional space you’re operating in is essential. Groceryshop 2022 was a chance for retailers, brands, agencies, consultants, media, and technology providers to break away from the day-to-day to explore new trends. 

Following up to the Top Speakers and the Top Sights and Solutions of Groceryshop, here are the top takeaways and themes from our time at Groceryshop related to digital commerce and marketing.

Retail on Retail (Selling)

There were many examples of retailers stepping out of their traditional “buyer” role and becoming more of a seller. Walmart Connect, Walmart Go Local, and Walmart Commerce Technologies all were at Groceryshop touting retail media and white-label solutions to help brands grow and improve retail operations. Amazon showcased its Just Walk Out technology, combining computer vision, sensors, and deep learning for retailers to deliver effortless, convenient, checkout-free shopping. And, of course, the latest retail media ad platforms were out in full force.

There’s No Easy Button for E-Commerce

During Groceryshop, we had many conversations with brands looking to up their e-commerce game, and we heard from many retailers seeking to improve e-commerce profitability. It seems that no one has e-commerce fully figured out. Brands want to simplify their e-commerce tech stack, seeking a single tool to simplify things across all sites. Retailers are looking for ways to make online shopping more profitable. For now, there are no magic bullets. Much testing is needed as people will continue to shop online and in-store, and brands have to be good at both.

 Retail Media Must Be a Balancing Act

The growth of retail media is undeniable. Much of this growth is from retailers seeking to bring in new, higher-margin dollars to offset costs to meet omnichannel consumer needs. However, for some, the dollars are coming first, and the shopper is being forgotten. One (unnamed retailer) took the stage and proudly declared their goal was a tripling of revenue from their retail media platform without even a footnote on the shopper and the value the platform brings. There must be a balance between monetization and user experience before it leads to a lack of trust and shopper pushback.

Personalization is A Journey that All Must Pursue

Consumer expectations and shopper demands have only increased over the past few years. Delivering on those expectations (once raised) becomes table stakes. Today’s shoppers know what they want and can get it where and when they want it. Relevant, personalized offerings and options based on content and context are needed to drive interest and engagement to help close the sale. Brands must deliver the goods (so to speak) and remove friction to help shoppers find (and buy) what they seek. Albertsons addressed this in a speech where they highlighted the technologies they’ve added to improve the top two customer motivations: inspiration and ease.

Retail is A Team Sport; Don’t Go It Alone

Retail has always required collaboration, and the future of retail may require even more strategic partnerships that drive mutual value. To best meet consumer expectations – and drive maximum profitability – retailers and brands must work together. One of the most efficient ways for companies to solve strategic problems and grow is to harness the strengths and abilities of others within the industry. No single company can do everything best, especially when faced with ever-changing customer needs and demands.