Price Check: Inflation Proofing Your Fresh Operations in 2022
Learn how technology helps to combat fresh food inflation and protect margins in grocery.
The chaos of panic buying and empty produce aisles may be behind us. Still, the sense of heaviness and uneasiness is stronger than ever in grocery stores as inflation increases at its fastest rate in decades, eating up budgets in American households. While retailers have traditionally done well during periods of grocery inflation, we are facing unprecedented challenges in fresh.
The recently released, FMI—the Food Industry Association’s 2022 Power of Produce report revealed that shoppers rank price of fresh products (25%) as the number one factor when making purchasing decisions, followed by appearance (19%), health benefits (19%), and ripeness (15%).
Missed the live conversation? Watch the on-demand webinar to gain insight on:
Actionable steps grocers can take immediately to minimize the impact of rising commodity prices to protect margins in 2022.
The safeguards against the challenges of inflation: how leaders are filling in operations gaps and establishing accurate real-time costing and reporting in ingredients used to make produced finished goods.
How to leverage fresh-centric forecasting data to make rapid and precise decisions to remain competitive.
Think forward. Think Fresh.
About the speakers:
30% Food Waste Reduction
5% Fresh Sales Growth
3% Labor Efficiency
100% Fresher Product
25,000+ Stores on the Freshology Platform
$100M Fresh Revenue Transacted Daily
Joe Smirlies, SVP of Product, Invafresh
As Senior Vice President of Product Management, Joe is recognized as one of the world’s foremost experts in sustainable fresh-native technology solutions. With over 30 years of experience in the grocery technology sector, Joe brings the depth and breadth of expertise to service fresh food retailers with innovative technologies to share the future of fresh food retailing. Co-creator of Invafresh’s portfolio of solution, Joe partners with leading global grocery retailers to understand their challenges and deliver technologies to optimize sales, operational processes, and food waste initiatives.
Rick Stein, Vice President, Fresh, FMI
Rick Stein joined FMI in 2014, and is responsible for developing a portfolio of services and activities to assist members in formulating and executing their fresh food strategies. Prior to joining FMI, Rick spent 30+ years in a wide range of retail grocery merchandising and marketing responsibilities.