Waitrose boss says supermarkets are 20 years obsolete
Waitrose boss Mark Price said in a statement that the big four supermarkets in the country are 20 years out of date as the shopping habits of people are “far more fundamental than the discounters”.
He has said this is the reason why Tesco has lost many of its customers and he says that Sainbury’s Asda and Morrisons should also make changes to their strategies in order to step up to the current market requirements.
During an interview that marked the launch of the supermarket’s annual Food and Drink Report, Mr Price said that the change in behavior was mainly characterized by customers who have very little time to buy food. He said, “People are buying food for now. The notion that you are going to go and push a trolley around for the week is a thing of the past. It is fundamentally changing the market”.
He also added that these trends are making people go out of “big box, out-of-town retailing” which is really a big challenge the big four supermarkets are currently facing. He said that the estates of the four supermarkets are apt for the way customers shopped two decades ago and not how people want to shop now.
Although he said this generally about the big four, his comment mainly is about Tesco which is facing severe challenges to gain back lost customers and stopping the drop out of regular customers. The report published by Waitrose clearly explains how consumer behavior has changed in the last year and it shows that there has been an increase of 10 percent for products made for breakfast-on-the-move.
Price said that the days when the family sat down together for breakfast to eat cereal are gone and that supermarkets should adapt to the changes in the market in order to keep up with the requirements of the market.