Retailers to Watch in 2023: Peopod Digital Labs
Each year brings with it a new set of challenges to the nation’s retailers, and 2022 was no exception. Consumers evolving their shopping habits while also facing inflation rates not seen in a generation required retailers to be nimble to meet the needs of their customers.
As 2022 comes to a close, Store Brands has put together a list of 10 retailers we think are worth watching closely in the New Year. From leading grocery chains to growing e-commerce players, the coming 12 months will see retailers face new challenges, revamp product assortments and provide consumers with new options to meet their ever changing demands.
The profiles of the 10 retailers Store Brands has selected will provide you an overview along with our thoughts on why each is worth watching in 2023.
Overview
It’s been a busy 2022 for Peapod Digital Labs. As the digital, e-commerce and commercial entity for Ahold Delhaize USA’s private brands and store banners, it plays a vital role in developing private label products for several banners including Food Lion, Giant, The GIANT Company, Hannaford and Stop & Shop.
With sales of private label products expected to grow again in 2023, this will have an impact on new product development for Peapod.
What to Watch
In July, Peapod efforts to give the company’s private label assortment a boost were on display with the launch of its Incubator Program. Designed to bring diverse-owned suppliers further into the conversation, the effort chose five companies as finalists, four of which were certified minority-owned (one also certified LGBT-owned) and one veteran-owned. The winner, Whole & Free Foods, is owned by Trish Thomas and Nichole Wilson, and manufactures various items that are free from the top-14 allergens, corn and sugar.
The initiative is indicative of the effort by Peapod and its parent company Ahold Delhaize to further broaden its private label assortment and give smaller companies an opportunity to work with and learn from one of the nation’s major grocery chains. It also provides an opportunity for a women-owned company to grow, which speaks to Ahold Delhaize’s focus on issues of diversity and inclusion.
From a sheer business perspective, the Incubator Program also speaks to the growing importance of private-branded products across the company and the need to continue innovating. Understanding the need to differentiate assortments and provide shoppers something unique from what’s on the shelves of the competition, initiatives such as the incubator launched by
Peapod shows the willingness of grocers to seek input from product suppliers, even those they currently don’t do business with. This effort by Peapod is good for the retailer and new suppliers looking to get a foot in the door and ultimately products on the shelves. It’s also good for the consumer as the selection of private label products continues to grow.
We’ll be watching the next steps with this initiative at Peapod.