FMI - OMEGA - West Virginia Oil Marketers & Grocers Association

Now in its 66th year, FMI’s The Food Retailing Speaks survey is currently in the field and for the last 12 years, FMI Speaks has asked senior leaders in the food industry about the issues that affect their ability to succeed in the marketplace. Known as the FMI Worry Index, when it was initiated in 2004 only one issue rated highly that year—above 7 on a 10-point scale— and to no surprise that top concern was competition. Each year the impact of individual issues changes but what stays constant are the overall concerns retail executives must weigh to make the best decisions for their business that also meet the needs of their customers.

Love or hate my rhyme, it is still critical that you keep up to date on the legislative and regulatory actions that could impact your business. Sign-up now to start receiving FMI’s weekly GR Report newsletter and visit our webpage to learn about our policy related publications including our state report and more. While you’re at it, follow @FMI_GR on Twitter.

We’re thankful that Secretary Thomas Perez listened to our industry’s concerns and didn’t change the duties test at this time, as it is critical that food retail managers are able to perform essential duties and simultaneously lead by example. While the agency did make some improvements in some of the industry’s concerns, there are aspects of the rule that will create new burdens for the industry. First, a rule with changes of this magnitude needs adequate implementation time and starting some thing of this magnitude during the busiest shopping time of the year is a huge concern.

I hope your plans will include joining your industry colleagues and me at FMI Connect where we will reveal and explore the new findings in FMI’s 2016 U.S. Grocery Shopper Trends. Among a host of other topics, we will discuss three findings worth your consideration.

Despite many years of good faith efforts by manufacturers and retailers, the average out-of-stock rate remains a stubborn 8 percent, often exceeding 10 percent for promoted items. The potential revenue loss combined with the harm to shopper satisfaction and loyalty is a big challenge shared by all in the industry.