Channel blurring, that is. Retail and hospitality companies are venturing beyond their core competencies and traditional sales channels to acquire new customers, increase share and grow their overall revenues. Consider these examples:
- To offset shrinking in-store sales, some fast-casual restaurant chains like Panera are offering home delivery of fresh grocery items.
- Large format retailers like Kroger and Target are building small formats to emphasize convenience and appeal to urban shoppers.
- Retail foodservice, often referred to as “Grocerant,” has long been a focal point for the U.S. grocery industry. Wegmans has taken it one step further by creating dine-in restaurants branded as Market Café.
- Some urban Walgreens stores serve prepared foodservice items, including sushi.
- Led by chain operators 7-Eleven, Sheetz and Wawa, the U.S. convenience store industry offset declining tobacco sales by growing its foodservice business over 30% in the past decade.
- Often called “Next-Generation Retailing,” some luxury hotels are adding small retail spaces to generate new revenue and build deeper engagement with their guests.
The Retail & Hospitality Hub is led by Korry Stagnito who has held executive-level positions with minority ownership in numerous B2B media brands including Progressive Grocer, Convenience Store News, the Path to Purchase Institute, Drug Store News, Store Brands, Hospitality Technology, RIS News, Consumer Goods Technology, Canadian Grocer and several others.