NEW STRATEGIES NEEDED TO COMPETE WITH VALUE RETAILERS

CHICAGO -- Conventional operators are falling further behind value retailers in trying to win customers over; unless they develop better programs soon, they will ultimately lose the battle, a pair of speakers from McKinsey & Co. told a workshop audience at the annual Food Marketing Institute convention here last week."Grocery retailing has changed forever, with redefined consumer expectations of value

CHICAGO -- Conventional operators are falling further behind value retailers in trying to win customers over; unless they develop better programs soon, they will ultimately lose the battle, a pair of speakers from McKinsey & Co. told a workshop audience at the annual Food Marketing Institute convention here last week.

"Grocery retailing has changed forever, with redefined consumer expectations of value and higher demands on operations," Laxman Narasimhan, principal at McKinsey's S

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