New Zealand cooperative Foodstuffs is investing NZ$200m on expanding its supermarkets.
Foodstuffschief executiveChrisQuintold Fairfax Media that it would expand and improve its bricks-and-mortar stores, with a focus on convenient, and ready-made meals.
The investment comes as US e-tail giant Amazon plans its move into Australia and follows Amazon’s acquisition of US grocer Whole Foods in June.
'What Amazon and Whole Foods do will be very defining forour marketplace,” Quinn said.
'We havegot a great insight on customers at the moment. Guessing the futurearoundwhat the mixof physical, digital, experience, value, emotion and style isgoingto be for our customers in the future - that is where the big bets get placed.'
Quinn told Fairfax that he expects customers to continue to visit physical stores at least twice a week, with customers looking for convenient, healthy and ethically sourced food.
As a result, Foodstuffs will be partnering with a technology business to bring new ideas in-store and enhance the customer experience, which will includes expanding its ready-to-cook meal range.
