Impact of Covid-19 Pandemic on food retailing

Abstract

Finnish food market retailers in Finland are making several efforts to cope with the Covid-19 pandemic and adapt to the most suitable business model with the current crisis. K-Citymarket will be the focus point on some aspects of this thesis, this thesis aspires to explore the subject, analyze some critical business decisions, business models and processes the Finnish food retailing sector have put in place to become accustomed to the current crisis in the country. The methodology of research was selected to result in finding solutions i.e.: What business model changes, or adjustments are essential for Finnish food retailers, with the center of interest being K-City-market. Qualitative data was analyzed by interacting with key figures in K-citymarket and observing operations to evaluate their response to the pandemic, and explore which modifications were made to further swing their business models to suit the conditions. The secondary part of the research method was made through the results of a quantitative research method in ways of interviewing several prioritized customers from K-Citymarket in terms of studying their position or behavior during the pandemic. From the critical point of view on varying business models, the result of the research proves that the pandemic has changed the business operations such as communication and the relationship between customers and food retailers. K-Citymarket made an advantageous use of digitalization as a key driver in surviving the pandemic, alongside the issued safety protocols by the government. Further findings proved the modification with digitalization introduced new revenue streams and a new customer base, and the timing of the online grocery shop enriched the relationship between K-Citymarket Pirkkala and its customers.