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The Disruption and Uncertainty – State of Grocery Retail 2021 report, launched today by McKinsey & Company and EuroCommerce, takes a comprehensive look at the long term-trends and effects of the pandemic on the European grocery industry.
The report first recaps the industry developments in 2020 – it looks at how the COVID-19 pandemic has reshaped the European grocery landscape at unprecedented speed and scale, with government restrictions impacting shopping patterns and accelerating a dramatic shift to online.
• Revenues were positively impacted by the pandemic – based on Europanel data, during the first lockdown in March 2020, grocery sales in Europe increased on average by 20%, and by 10% during 2020 as a whole
• At the same time, costs increased owing to pressure on supply chains and the growing need for additional hygiene measures
• The stricter lockdowns became, the more consumers changed their shopping patterns, shopped at different supermarkets or ordered their groceries online. In total 60% of consumers changed the store they shop in or went shopping online
Disruption and Uncertainty – State of Grocery Retail 2021, based on both the CEO survey and consumer research, identified four key trends that will shape the industry over the next years. These are based on the areas consumers intend to spend more money on and what CEOs see as the key industry-shaping trends, with the majority expecting an increased focus on adjusting to shoppers who want variety, value and online.Read more