Woolworths Releases Report on Future Consumers and Shopping Trends
In their “Future of Fresh” report, Woolworths combines research and market trends to predict how Australians will be shopping in 2034, 20 years from now. Research for the report was conducted by social demographer Mark McCrindle and Woolworths’ “Chair of Innovation,” Queensland University of Technology professor Jan Recker.
The report shares Woolworths’ view of the future – that the shift towards fresh, local produce will continue, and a combination of new technology will aid shoppers in making the perfect customised shopping experience.
The report mainly focused on the up and coming generation – “Generation Alpha,” or people born after 2010. The contributors to the report believe that this generation will take a hybrid approach to shopping, by buying some products (like pantry and dry items) online and continuing to purchase fresh, hyper-local produce in stores.
The more innovative and immersive shopping experience is one that Woolworths is looking forward to supporting.
"As the Fresh Food People, Woolworths has a long term commitment to providing fresh, local and affordable produce for our 18 million weekly customers,” Tjeerd Jegen, Managing Director of Woolworths Supermarkets said. “As part of this commitment, we have had to evolve to meet the needs and tastebuds of a diverse and ever-changing Australia.
“This unique ability to look at how Aussies shop has enabled us to track the changing needs and wants of families over the past few decades and look at how this will change in the future. The Future of Fresh report provides a unique insight into the shopping experience of 2034, a fresh future we're excited to be a part of with our customers."
The Future of Fresh contributors predicted that Generation Alpha will be Australia’s most educated population, with 90 percent predicted to complete a Year 12 education. They also believe that a third of Alpha shoppers will choose not to have children, shifting the most common household type from a nuclear family to a couple-only family structure.
The report also predicted that these new families will be nearly three times more likely to shop online than the average Australian. Also, the majority of payments is projected to be cash free.
As for buying habits, Australian Gen Alphas is expected to put a lot of emphasis on the location where their food was grown and produced when making purchase decisions. And value won’t just mean a good deal; there will be a concerted focus on lifestyle, health and ethics when considering the value of a product.
Information sourced from Sunshine Coast Daily
Coal India Secures First-Of-Its-Kind Digital Deal
Coal India Limited (CIL) has appointed Accenture Solutions to digitally transform seven of its open-cast mines as the company strives to improve performance and increase coal production. Accenture is due to lay down digitalisation groundwork until March 2022.
The deal aims to increase coal production by 100 million tonnes (MT) by the end of FY’23. Once the minimum quantity has been surpassed, an agreed sum will be paid to the consultant for every additional sum of coal produced. This success fee will only be paid on the procurement of the minimum assured quantity.
The move will see heavy earth moving machinery (HEMM) fitted with digital sensors to monitor performance efficiency at all levels. Additionally, modern data analytic techniques aim to increase mine productivity and project monitoring through functional system management and effective observation.
An Exciting Venture For Global Mining
CIL, which aims to provide energy security in an environmentally and socially sustainable manner, hopes the move will help transform the entire business of mining operations and ensure higher volumes of coal are acquired at a lower cost.
“This is a first of its kind initiative by the company utilising digitalisation to ramp up coal output,” CIL has said.
A Digital Step Towards Enhanced Performance
Digitalisation is expected to take place at open-cast mines in Kusmunda, Gevra, Dipka of Southern Eastern Coalfields (SECL), Migahi, Jayant, Dudhichua, and Khadia of Northern Coalfields (NCL). Nearly 32% (188 MT) of CIL’s 596 MT output in FY’21 was accounted for by the seven selected mines. However, this new deal is set to see a large increase following the subsequent digital changes due to be made.
“Learning from the outcome and success of this model, we may replicate it in our other large mines,” says CIL, optimistic about the future following the modernisation of their mining.
It is expected that the move will help address roadblocks and guarantee corrective measures are put into place, ensuring the company is able to move forward with its aim of increasing output whilst remaining sustainable and eco-friendly.