According to the Center for Disease Control (CDC), 50% of Americans have a chronic disease, the treatment cost of which will be $4.2T. $3.2T of this amount can be mitigated through prevention.
At the same time, nutrition is entering a new era of discovery. Most of nutritional knowledge today is unknown, and advances in scientific techniques and data analytics promise to illuminate this hidden knowledge and its impact on human health. The resulting knowledge presents an opportunity to reset our approach to nutrition and provide the foundation of a scientifically based approach to proactive health as chronic health issues are worsening.
At the upcoming Retail Food Service Innovation Conference to be held from September 30 to October 2, 2020, Engage3 and the World Economic Forum are presenting the Human Nutriome Initiative, a partnership across industries including health, retail, food, and technology. The Initiative will:
Support new nutritional discoveries,
Translate this knowledge so that it is easily available to policymakers, businesses, and citizens; and
Encourage the application of this knowledge so that it is broadly accessible for the benefit of the many, instead of just a few.
The Initiative will have a global impact on managing critical diseases by providing populations with better diets. Increasing biodiversity of the food supply is a key goal. Among the commercial impacts of this initiative are:
Consumers will have access to healthier and more nutritious products at an affordable price.
Retailers will be providing healthier products to consumers at scale.
Healthcare organizations can encourage their subscribers to choose healthier and more nutritious food.
Food companies will develop insight into new health attributes.
Engage3 will open the conference on Tuesday, October 6, at 9:00 am, Eastern Time and will offer an overview of “Retail Pricing Strategies During and Post COVID-19” — presenting market trends and outlining how grocers can best position themselves in delivering value to consumers in this complex environment.
“As the war for market share heats up, those who are highly intentional about their pricing strategies will come out as the clear winners,” said Edris Bemanian, CEO of Engage3. “We look forward to discussing industry trends and the capabilities retailers will need to succeed in this dynamic environment.”
Bemanian will discuss:
Retail pricing and assortment trends and how they’ve evolved between 2018-2020
Shifts in consumer expectations during COVID-19
Expert advice for independent retailers
The pricing journey: crawl, walk, run, and sprint
C&S Wholesale Grocers, Inc., based in Keene, N.H., is the largest privately-held wholesale grocery supply company in the U.S. and the industry leader in supply chain innovation. Founded in 1918 as a supplier to independent grocery stores, they service customers of all sizes, supplying more than 7,700 independent supermarkets, chain stores, military bases and institutions with over 137,000 different products.
September 29 Webinar - Beyond the Price Check: How Product Linking Can Unlock Competitive Intelligence
In this webinar, you will gain insights into:
Improving your visibility: Discover how product matching powers your competitive pricing. With the increased demand for attribute-driven fresh and general merchandise items vs. the traditional UPC-to-UPC matches, product linking now determines the success or failure of your competitive intelligence programs.
Establishing a strong data foundation – Learn about a product linking platform that enables collaboration between pricing, merchandising, marketing, and product management. The platform serves as a productivity tool, your system of record, and the basis for any competitive comparison.
Discovering assortment opportunities – Identify meaningful product equivalences to uncover missed possibilities in your assortment. After links are established, they need to be monitored and get refreshed so they can continue to be useful.
June 30 Webinar: From Panic-Buying to Value-Focused
Building Loyalty and Winning Baskets through Price Image
Food retailing is experiencing the biggest and quickest changes in consumer shopping behavior in the midst of the COVID-19 pandemic:
Suppliers have pulled promotional funding
Average retail prices are rising
Customers are moving from panic-buying to being price-focused
Understanding and managing your customers’ perception of your overall price level relative to your competition – your Price Image – is your best competitive advantage. We can help you with your questions now, including:
How can I measure my Price Image now?
How should I react as my competitors start implementing price reductions across the market to retain their customer and market share?
How am I going to retain the loyalty of my customers?