Last week, experts from around the world gathered in Las Vegas, Nevada for Groceryshop 2024. Industry leaders and executives from across CPG, grocery, and retail came together to explore emerging trends and innovations shaping the space, with over 165 speakers across 50+ sessions. We highlight some of our top takeaways from Groceryshop 2024 below.  

Takeaways from Groceryshop 2024 

Artificial Intelligence (AI) 

As AI continues to gain widespread popularity across industries, we are seeing an increasing number of brands adopting it for creative and operational purposes, while simultaneously pushing the boundaries with predictive analytics in areas like supply chain management and merchandising. It’s fair to say that AI was probably the most used buzzword at Groceryshop 2024. But what does this mean? AI is here to stay and retailers are doing what they do best – adapting and innovating with the new technology.  

One of the key topics explored last week surrounded the use of AI for personalization and the importance of keeping the human touch. After all, the ultimate goal of AI here is to make digital interactions feel as personal and engaging as they used to be. A standout example came from Reckitt’s use case for design, where AI integration led to a 55% reduction of time to produce. 

Over the years at Groceryshop, we’ve seen the real-world applications and results come to life. In 2022, companies were exploring AI use cases and better understanding the tech. By 2023, companies were piloting AI applications, and many software vendors had improved their capabilities. Now, in 2024, companies are seeing real results and ROI using AI in a variety of practical ways, across supply chain, sales & marketing, store operations, and more. 

Retail Media 

Another hot topic revolved around retail media and how taking a holistic, omnichannel approach to activating retail media off-site, on-site, and in-store is essential. 

“Global retail media ad spend is expected to reach $140 billion in 2024.” 

Michele Roney, EVP, Retailer CX at Mars United Commerce, stressed that retailers don’t need to focus on each and every capability; it’s more important to focus on the foundational elements and the key areas that will drive the most benefit to their customers.  

Personalization opportunities also play a crucial role, as Mike Glaser, VP of eCommerce Marketing at PepsiCo, shared an example of how Pepsi is tailoring their on-site media to highlight products and promotions differently for Lapsed shoppers, Light shoppers, and Heavy shoppers. 

Omnichannel & Unified Commerce 

As retailers continue to refine their omnichannel strategies, the integration of digital tools (e.g. QR codes) is helping to create a unified experience. This shift allows customers to toggle seamlessly between in-store and online shopping modes, catering to the growing consumer demand for convenience. 

“When you can create a digital relationship with a member, we know them better and we can serve them better.” – Chris Nicholson, Sam’s Club 

Retailers are also leveraging Retail Media Networks (RMNs) to drive revenue through data-driven, targeted marketing and advertising efforts at the point of sale, both online and in-store.  Discussions also surrounded how retailers can leverage their customer data to create more relevant ad placements and partnerships. 

“Improved data quality has generated $3 billion in new revenue.” 

Private Labels 

The growth of private labels continues to be a major focus as retailers and brands find new ways to collaborate and compete in the same categories. Traditionally seen as lower-cost and budget-friendly alternatives, private labels are now positioning themselves as competitive offerings, pushing brands to rethink their strategies. This is bringing more value to customers and raising the bar for quality and satisfaction.  

Frans Muller, President and CEO at Ahold Delhaize, focused heavily on this message. Their goal is to make private label 45% of their total sales across food by 2028. Today the penetration is 31%, but in home markets like the Benelux (Belgium, Netherlands, Luxembourg) it is already above 50%. 

The concept of “coopetition” was also introduced by Nitin Murali, VP of Supply Chain Excellence at Gallo, who discussed how brands are sharing data and driving innovation together in product development, packaging, sustainability, and more. 

Looking Ahead 

The themes emerging from this year’s event all revolve around one central idea: understanding and meeting customers where they are. Brands are increasingly equipped to tailor their offerings to individual customer needs and preferences, ensuring a seamless, consistent experience across all touchpoints.  

To learn more about Clarkston’s experience within grocery, retail, and CPG, subscribe to our insights below or contact us today.