According to a recent white paper from Placer.ai titled “Specialty and Value Chains Transform Grocery in 2024,” weekly visits to grocery stores are up, with those shoppers headed to specialty, fresh format, and value grocery chains. The report states that shoppers are willing to travel to access stores like Sprouts Farmers Market, Trader Joe’s, and Great Wall Supermarket. As a result, some traditional supermarkets have created their own niche banners like Giant’s Heirloom Market.
Placer said that foot traffic at grocery stores in July increased by 4.6% year over year, and increased again in September as compared to the prior year. Much of that growth came from specialty, fresh format and value chain stores.
“The two segments offer markedly different shopping experiences: Specialty chains tend to emphasize harder-to-find ingredients and fresh produce – sometimes even at higher price points than traditional grocery stores – while value grocery stores focus on affordability,” according to Placer. “But both categories are experiencing outsized visit growth in 2024, highlighting consumers’ dual interest in both quality and value.”
Foot traffic at traditional grocery stores increased 3.1% in July and 0.9% in August, while value and specialty chains had growth ranging from 4.7% to 7.7% during that same period. Visits to traditional grocery stores fell by 0.5% in September, but value and specialty stores saw about 5% growth.
The report also said that between 2019 and 2024, Trader Joe’s, Sprouts, and Great Wall Supermarket saw a significant increase in visitors travelling over seven miles to shop there.
