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Food and drug store chains will be affected directly and indirectly by a number of disruptive opportunities and challenges that will jeopardize their corporate longevity over the coming decades. While described in detail within Quantumrun’s special reports, these disruptive trends can be summarized along the following broad points:
- First off, RFID tags, a technology used to track physical goods remotely, will finally lose their cost and technology limitations. As a result, food and drug store operators will begin placing RFID tags on every individual item they have in stock, regardless of price. This is crucial because RFID tech, when coupled with the Internet of Things (IoT), is an enabling technology, allowing the enhanced inventory awareness that will result in precise inventory management, reduced theft, and reduced food and drug spoilage.
- These RFID tags will also enable self-checkout systems that will remove cash registers entirely and simply debit your bank account automatically when you leave a store with items in your grocery cart.
- Robots will operate the logistics inside food and drug warehouses, as well as take over in-store shelf stocking.
- Larger grocery and drug stores will transform, in part or in full, into local shipping and delivery centers that service various food/drug delivery services that deliver food directly to the end customer. By the mid-2030s, some of these stores may also be redesigned to accommodate automated cars that may be used to remotely pick up their owners’ grocery orders.
- The most forward-thinking food and drug stores will sign customers up to a subscription model, connect with their future smart-fridges and then automatically send them food and drug subscription top-ups when the customer runs low at home.
These broad trends will have far-reaching effects on food and drug store chains that will influence the sector’s long-term development.
To stay informed about these and other trends, as well as the emerging opportunities and threats facing food and drug store chains, consider investing in Quantumrun Foresight sector forecast reports. Contact us today to learn more.
