The Supermarkets and Grocery Stores industrymakes up the largest food retail channel in the US. As per the latest figures released by National Grocers Association, nationally there are 21,000 privately held or family–owned grocery stores in the US that generates $131 billion in annual sales. These grocery stores account for total 25% of the Supermarket industry sales in the US.
As per the “2016 Independent Grocers Financial Survey” conducted by the National Grocers Association, the sales of the independent grocers grew by 2.1 percent in 2015 which is up from 1.5 percent in 2014. In order to ensure that the growth story remains intact, the grocers need to ensure implementation of robust financial management practices for their business that includes accurate processing of their financial information, efficient tracking of inventory and POS data as well as adherence to underlying regulatory information on a year-on-year basis.