Retail Brew was in Las Vegas last week, but not to gamble, see a 4D version of The Wizard of Oz at the Sphere, or attend the Backstreet Boys residency (they weren’t in town—we checked). We were in Sin City for Groceryshop to hear retail and CPG leaders break down the winning strategies and continuing struggles in the grocery business today. Here are the topics everyone was talking about. Value The word “value” has long been used in the grocery industry, but as the topic’s meaning has shifted and risen in importance amid continued inflation and consumers’ spending constraints, the topic was especially emphasized during this year’s edition of the show. In a session centered on “value-obsessed” shoppers, Ryan Draude, head of loyalty and digital at Giant Food, noted that value has historically centered on convenience, assortment, and being a one-stop shop, but the grocers need to pivot as customers—even those that are part of its loyalty program—are heading to different retailers to chase deals, leading to dropping sales. In a keynote session, Joel Rampoldt, CEO of Lidl US, said consumers are more focused on value than ever before, and as a discount retailer, it’s focused on finding efficiencies to “really grind out every nickel, dime, and penny of the cost to get to the best possible value.” Even Whole Foods, once known as “whole paycheck,” is doubling down on more deals and sales than ever, its chief merchandising and marketing officer, Sonya Gafsi Oblisk, said. It aims to have a “sea of yellow” sale signs when customers enter the store, and customers are relying on it; growth on sale items is double that of non-sale items year over year, she said. The retailer has also been expanding its private label offerings with both conventional and organic items, to emphasize both “relative value” as well as “absolute value,” aka, a low price point, Oblisk said. Keep reading here.—EC | 
