Boston, MA -- (ReleaseWire) -- 06/23/2014 -- Grocery retailers continued to see strong growth in 2013, with 3% in current value terms to generate revenues of A$115.7 billion. This is broadly in line with review period performance, which saw a CAGR of 4% in current value terms. As consumer confidence rose in 2013, retailers were able to achieve value growth through strong loyalty programmes, innovative promotional strategies and a heavy focus on consumer profiling through data analytics.
The local retailing giant Woolworths Ltd held a 34% value share in 2013, maintaining its leadership position. The retailer is increasingly focusing on diversifying its operations, which now extend to supermarket retailing, chained forecourt retailing and liquor stores. It has also rolled out an aggressive private label strategy, aiming for private label to reach 25% of its supermarket sales by 2015. It continues to place high pressure on manufacturers of national brands to bring down prices to compete with its rival, Coles, aggressively on price. In 2013, the market leader continued to experiment with new concepts in order to gain a competitive advantage and unique offering against its major rival. In 2012, the retailer began installing sushi bars across selected supermarkets, much of whose offerings are made on-premises in dedicated kitchens. In 2013, this was followed by a revamp of the supermarket's beauty and personal care offering, with metro locations offering mini makeovers and premium beauty and personal care brands. In 2013, the retailer also further experimented with store formats, introducing smaller format stores in inner city locations with a refined product offering including barista coffee and extensive ready-made meals.
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Competition within grocery retailing will remain fierce over the forecast period, as retailers turn to customer analytics to develop innovative, targeted promotional strategies to offer an increasingly unique value proposition for consumers. Such analytics are captured through reward programmes, where a consumer swipes a loyalty card at the point of sale and items are recorded to the consumer's database in order to create a comprehensive purchase history.
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