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Retailers should play active role to improve food safety: Study
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Friday, 23 October, 2009, 08 : 00 AM [IST]
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A new study commissioned by retail industry think tank, the Coca-Cola Retailing Research Council Asia (CCRRCA), and conducted by McKinsey & Co., calls on leading retailers to play a more active role in setting and improving standards for food freshness and safety in Asia.
The report entitled “Safer Fresh Food for Asia’s Shoppers – A Call to Action,” reveals how food safety could predictably improve by drawing insights from a shared evolutionary pattern seen across markets in Asia-Pacific.
Mark Van Dyck, group director for customer leadership, Coca-Cola Pacific, said, “Consumers in Asia have high expectations for very fresh and affordable products. The connection between fresh categories and customer loyalty is more powerful in Asia than anywhere.” According to the study, one major food safety incident could cost a large Asian retailer up to $40 million in lost sales over a two-year span.
The broad-based research encompassed input from industry experts, government stakeholders, academia as well as a detailed survey of senior management and food safety experts from 17 key retailers across the region. The study investigates fresh food supply chain operations in nine cities via extensive fieldwork and interviews.
The study also proposes an evolutionary model that puts the food safety developmental stages of Asia Pacific markets in perspective.
The study also mapped three categories – developed markets (Australia, Japan, Korea), developing markets (Hong Kong, Singapore, Taiwan, Thailand and tier one cities of China), and emerging markets (India, Indonesia, the Philippines, and tier two cities of China).
Full report on:
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