NDP Group and IRI both
concluded review of the convenience store channel and agree that convenience
stores with fresh prepared food and loyalty programs edify sales and brand
positioning. With over 149,000 units, chain
convenience stores are garnering share while increasing frequency faster than
independent convenience stores.
In IRI’s Times & Trends
report “Convenience stores: Keep the Core; Appeal to More” identifies that
successful operators are adding “good for you” products, albeit they are adding
them next to candy bars. Customers are
experimenting with the new products and rewarding operators with return visits
and driving the rapid adoption of “better for you” products. The IRI report found “When compared
to grocery and drug stores, convenience stores were the only channel that
enjoyed both dollar and unit sales growth in 2012.”
The NPD Group report found consumers are leading the way. NPD found that consumer traffic increased by
2 percent in the first quarter of 2013, compared to the same period a year ago
leading to a 6 percent increase in spending during that period.
In addition
the NPD reports showed that customer visit frequency also grew
quarter-over-quarter to 6.1 visits in a 30 day period with 48.8 percent of the
U.S. population reporting visiting a convenience store in the last 30 days.
Looking like restaurants “7 percent of conventional c-store
shoppers citing rewards or store loyalty as a reason for choosing a specific
chain,… 5 percent of shoppers who list coupons, discounts sales or promotions
as a chain selection reason, one in 10 c-store shoppers now select a store for
deals”.
Leveraging the 5 P’s
of food marketing, C-stores are finding success. Interested in learning how the
5P’s of Food Marketing can edify your retail food brand while creating a
platform for consumer convenient meal participation, differentiation
and individualization contact us via Email us at: grocerant@q.com or visit
Facebook.com/Steven Johnson, Linkedin.com/in/grocerant or
twitter.com/grocerant
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