Grocery stores have traditionally operated within a brick-and-mortar establishment, servicing a loyal customer base within a limited, geographical area.
But this is changing.
The industry is quickly evolving to leave many grocers looking to pivot in their offerings and shift their business models to expand and flourish within new opportunities. Finding these new and additional ways can help grow businesses outside the center aisle and compete with the Walmart's and Amazons of the world. Large corporations are increasingly taking local grocers’ market share, so these high profit margin revenue streams are a way to be competitive. In this article, we explore 3 reasons why grocery businesses should consider selling prepared meals and catering services.
Without finding new ways to offer your products, businesses often find a continued plateauing of revenue performance, if not a decline. And when going against big box stores or large brands growing into the grocery space, it is imperative to keep operations fresh, innovative, and adoptive of new trends to take your business to achieve higher financial goals.
Today, consumers are demonstrating a greater uptake of ordering meals – whether it be simply for themselves and family, or for a wider function – through online platforms. By introducing prepared meals and catering services, grocery businesses can capitalize on this movement to repackage, repurpose, and more widely distribute their products. The alternative, more concerningly, is a continued loss of market share as competitors, both new and old, also adopt this new service. Online ordering will only continue to grow, so ensuring your products are available on your own or 3rd party platforms is essential.
(Pictured above: Kings Food Market eCommerce catering website hosted by FoodStorm)
If your grocery business operates within a physical location, potential customers are limited to those either living within the immediate proximity, or are at least capable of travelling to complete their shopping. Going online can help to build the awareness and interest in your selection, but it doesn’t change the geographical limitations.
Prepared meals and catering partnered with a swift delivery service can overcome this and open your business up to potential new audiences. Through the power of the internet, social media channels, and streamlined catering software, businesses can generate a powerful impact on new customers both within their daily breakfast, lunch, and dinner orders, as well as corporate functions, social events and more. It can also aid those with additional needs, such as the elderly, people living with disabilities, or otherwise unable to travel outside of their homes.
It can feel daunting to add a new line of services to your grocery business. Fortunately, FoodStorm offers a comprehensive catering software to aid in making the process more effective, simple, and rewarding. This includes: