THE RETAIL BULLETIN - The home of retail news
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Health & Beauty
General Merchandise
Sports & Leisure
The Papers
Retail Solutions
Food & Drink
Global food and grocery industry confident about prospects

More than four-fifths (82%) of international food and grocery companies are confident about their future.


Global food and grocery industry confident about prospects

More than four-fifths (82%) of international food and grocery companies are confident about their future.

The latest research from IGD, who provide information and insight to the food and grocery industry worldwide.

Over half (53%) think the global grocery retail industry will outperform the rest of the economy over the next five years, while 29% believe they will have a similar performance relative to other industries.

The findings are revealed in IGD’s International Grocery Retailing Survey, which also shows that 80% of the companies surveyed have increased their investment in new product development or kept it at similar levels over the last 18 months.

When asked about changes in input costs over the next year:

  • 75% think the price of ingredients will increase
  • 68% feel energy prices will go up
  • 57% believe labour costs will stay the same or decrease

Joanne Denney-Finch, chief executive, IGD, said,”Although global economic conditions are tough, food and grocery companies are more resilient. Our survey shows they are confident about their prospects compared to other industries. This confidence is based on a drive to innovate and to build on value for money as customers feel the pinch from increases in the cost of living, such as higher petrol prices”.

“Food and grocery companies clearly see themselves facing several cost pressures including higher ingredient and energy costs. But operating in such a competitive market place they are continually reassessing their operations to ensure maximum efficiency, which should help cushion shoppers from the full impact of the increases.”

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News


Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Conference
The HR Summit 2019
The HR Summit 2019
8 October 2019
Hallam Conference Centre, London W1W 6JJ
The 11th HR Summit 2019, Hallam Conference Centre, 44 Hallam St, Marylebone, London W1W 6JJ
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, London W1G 9DT
Digitally native competitors and demanding customers are forcing a new perspective in retail. AI and machine learning can help you step up to the challenges; and some ‘small and beautiful’ solutions can increase your conversion rates within just a few weeks.
Omnichannel Futures Conference 2020
Omnichannel Futures Conference 2020
5 February 2020
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy