Hi Olof! Why do you think there is such a buzz about fresh food in the retail industry right now?
- Well, right now the modern consumer is very interested in fresh, healthy and tasty prepared food on-the-go as it is both easy, effective and often quite affordable. Of course, there are great profit potentialities for retailers here. Many retailers, such as groceries and convenience stores, are already utilizing on this and we are convinced that the market will keep expanding ahead.
Why is fresh food in retail considered a challenge?
- I travel a lot for work, and I often consult frustrated retailers who are experiencing a hard time managing fresh food profit. One of the most significant challenges is merely having the right amount of items on the shelves to satisfy customers and avoid food waste at the same time.
How can retailers increase profits from fresh food sales?
- Visma Retail provides software tailored to solve challenges like this. In this case, we recommend a Fresh Food Management that can efficiently predict order and replenishment needed on fresh items at any particular time, and thereby avoid out-of-stocks as well as unnecessary waste. These factors will increase both sales and profits, but there are many other functions in our Fresh Food Management that will improve the gross margins. For instance, our software can provide visibility to costs as for the items and ingredients, the packaging, and the labour and therefore facilitate the final pricing to ensure the desired margin.
What is a Fresh Food Management solution?
- It is a software management system that can be integrated into your retail ERP to facilitate and maximise the profits from selling fresh items and prepared fresh food to-go. The software will advance your ability to provide freshness and availability on the shelves while reducing waste, as well as provide real-time data insights, recipes, instructional guides, nutrition labels, full item traceability and fulfil the legislation standards that comes with fresh food handling.
Who should invest in a Fresh Food Management solution?
- I would recommend anyone who already has brick-and-mortar locations and would like to take advantage of the rising consumer demand for fresh and healthy food. It saves you a lot of time, money and facilitates the daily labour as well.
Can a Fresh Food Management facilitate the preparation of food to-go?
- Yes, that is an important part the solution. With modules like “Recipe Management” and “In-store Production”, our Fresh Food Management will suggest recipes based on products in-stock, and manage the entire process; from choosing and picking the items in-store, preparing the food step-by-step, printing an accurate nutrition label and establishing the right price as a ready-to-eat product.
Who will benefit from the implementation of Fresh Food Management in retail?
- Every retailer who deals with fresh- and prepared food will benefit from inventory optimization. The retailer will obviously make profits, the customer is certain to find fresh food with great traceability and transparency and the reduced waste will, of course, serve the environment well.
How is traceability connected to Fresh Food Management?
- We are experiencing an increased level of awareness from consumers regarding food and the importance of both sustainability and traceability. People want to know where the food comes from and what it contains. This new level of consciousness is a challenge for retailers today, but with a Fresh Food Management you can track the whole supply chain and ensure that the consumer demand for transparency is met.