Friday, July 23, 2010

Innovation trumps complacency in retail foodservice!

Product, Packaging, Placement, Portability and Price are the 5 P’s of successful grocerant fresh prepared food retailing. Combine the 5 P’s with technology a consumer focus and success follows.

Jenn Tekin of Package facts recently stated “During the height of the recession, fresh convenience food marketers and retailers spotted an opening. Seeing their main competition coming from the restaurant industry (instead of less costly unprepared food), many retailers began to compete more heavily on price without cutting back on the process of innovation in quality and convenience that had been underway for more than a decade. According to the report, these efforts proved successful, spurring a shift by many consumers from restaurant meals to prepared food purchased at retail outlets.”

In fact she continued “Fresh Convenience Foods in the U.S., the market for fresh convenience foods grew by 5% in 2009 to reach sales of $22 billion. Packaged Facts expects these marketing and merchandising efforts to continue to prove successful over the short term, driving sales of fresh convenience foods up another 28% by 2014 to $29 billion.

Success leaves clues and while many in the retail foodservice industry continue to struggle. Those retailers incorporating the 5 P’s of retail foodservice will continue to see top line sale grow and bottom line profits increase.

Outside eyes can deliver top line insights and bottom line profits. Invite Foodservice Solutions to provide brand and product positioning assistance or a grocerant program assessment. Since 1991 Foodservice Solutions of Tacoma, WA has been the global leader in the Grocerant niche for more on Steven Johnson BING: Steven Johnson Grocerants or Google: Steven Johnson Grocerants

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