If you were in the grocery business, who would you benchmark for technological innovations? Would the companies be inside or outside your industry? Why?

If I were in the grocery business and looking to benchmark technological innovations, I would consider both companies within and outside the industry. Here's why:

1. Inside the industry: It is important to study and learn from other grocery businesses that have successfully implemented technological innovations. By benchmarking competitors or similar companies within the industry, you can gain insights into best practices, identify emerging trends, and understand how these technologies have influenced their operations, customer experiences, and overall business performance.

To research companies within the grocery industry, you can:

- Analyze key players: Look at large grocery chains, regional supermarkets, and online grocery platforms that are known for implementing innovative technologies. This could include companies like Walmart, Kroger, Amazon Fresh, or Tesco.

- Explore industry publications and reports: Read industry-specific publications, reports, and studies that highlight technological advancements and innovations in the grocery sector. These sources can often provide detailed insights and case studies on companies leading the way in adopting new technologies.

- Attend conferences and exhibitions: Participate in industry events or trade shows where grocery businesses showcase their latest technological innovations. This allows you to directly interact with industry professionals and learn about their experiences firsthand.

2. Outside the industry: Looking beyond the grocery industry allows you to gain fresh perspectives and learn from companies that have successfully utilized technologies relevant to your business needs. Technological advancements in customer experience, supply chain management, data analytics, or logistics can often be adopted or adapted to the grocery sector.

To explore companies outside the grocery industry for benchmarking, you can consider:

- Retail giants: Study technology-driven companies like Amazon, Alibaba, or Walmart, which have successfully integrated technological innovations into their operations. While they may not be direct competitors, their expertise in supply chain management, e-commerce, or personalized recommendations can offer valuable insights into transforming the grocery business.

- Tech companies: Evaluate technological innovators like IBM, Google, or Microsoft, which develop solutions applicable to a wide range of industries. These companies can offer unique insights into areas like artificial intelligence, machine learning, data analytics, or robotics that can be harnessed within the grocery business.

By considering both companies within and outside the grocery industry, you can gather comprehensive knowledge about the latest technological advancements, emerging trends, and strategies. This allows you to make informed decisions about implementing technologies that will enhance your grocery business and stay ahead of the competition.