2016, January, 25

The art of continuous re-invention in a mature industry

One of the central ways that an organization can insure its ongoing relevance is to continuously re-evaluate and expand the boundaries of its business.  This is equally necessary in fast-moving, young industries as well as in traditional, mature industries.  Here is an inspirational example from the later.

The grocery retail industry is acutely affected by ongoing changes in consumer lifestyles – be it online, one-stop, or health-conscious shopping.  How to navigate in this environment to stay relevant as a long-established player?  It seems Kroger has the answer.  The 133-year old company is one of the largest supermarket chains in the U.S., with over $100 Billion in revenues and over 300,000 employees.

The company has generated 47 straight quarters (12 years) of positive, same-store growth, and is set to soon overtake Whole Foods as the biggest retailer of organic and natural foods.  In fact, Kroger is continuously expanding the boundaries of its businesses in ways that increasingly provide customers with the one-stop experience of Whole Foods, Walmart, and McDonald's combined. 

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