There are numerous reasons why supermarkets are successful in their market growth.
There will almost always be significant growth in the supermarket industry. You’ve seen it. Supermarkets are sprouting up everywhere that they can to improve on making their brand become a household name. Marketing is king when it comes to exponential growth. You hear the commercials on the radio and you see them on the television. They’re practically everywhere.
How They Plan To Grow
The annual growth of the supermarket industry is far from what you think. In order for their stores to be successful, many of the major companies are taking market shares from one another to compensate.
Acquisition Provides Leverage
Kroger Inc., which was founded back in 1883, has grown to become one of the largest in the business today. Its namesake brand includes the likes of Ralph’s, Fred Meyers, and King Sooper’s. Its expansion is largely due to acquisition. This eliminates the worry over saturating markets.
Steve Doctrow is the current Executive Vice President of Rogers & Cowan. His role with Ralph’s supermarkets indirectly was representing them as the Director of Promotions at Young & Rubicam. His vast experience overseeing numerous promotional marketing campaigns has aided Ralph’s in regards to growth.
The Bottom Line
Again, in the supermarket industry, a stagnant company will only crash and burn over time. Kroger Inc. and its competitors continue to acquire new pieces to add to their already-enormous empire and play the market the right way. Further acquisitions are probably already underway. It’s a fast moving industry. Continued growth will always lead to continued success.