Grocers Will Flip To These Tech Corporations To Battle Bezos

Coster noted that much of the innovation in grocery technology is taking place in private companies, and larger companies not included in the report.
The rise of e-commerce giant Amazon contributed to the struggles of the brick-and-mortar clothing retailers, and now looks to increase competition with an increasingly challenged grocery industry.
Goldman Sachs and Deutsche Bank also downgraded Costco after Amazon announced the deal to acquire Whole Foods on Friday.
“We also expect much of the associated innovation to originate in other verticals, including financial services, software security, and consumer electronics,” Coster said.
— CNBC’s Jeff Daniels contributed to this report.

Read more on: