The grocery industry was large, slowly growing, and barely profitable. Yet because consumers needed to purchase groceries at least every week, the industry was full of creative competitors. Rivals vied for grocery shoppers because of the potential to profit from regularly supplementing sales of groceries with other products and services. Such cross-selling was aimed at strengthening their bonds with customers and thereby boosting their lifetime value. The grocery industry’s dynamism offered excellent examples of how important a CEO’s strategic mindset is to achieve ...
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