Wednesday, March 4, 2020

Food Branded retail space food sales Urban vs Suburban

Consumers that work in urban centers are inclined to make more money, eat out more often, and pay a higher price for both food and beverages according to the US. Census Bureau. Today, new grocerant niche Ready-2-Eat and Heat-N-Eat fresh food retailers are targeting those centers in a ‘land grab’ according to Steven Johnson, Grocerant Guru® at Tacoma, WA based Foodservice Solutions®.
Johnson continued “legacy brands may end up being valued brands in the suburbs and in rural location fighting for survival while ‘new’ retailers deliver a new value add urban relevant set of fresh food offerings.
Recently, urban convenience-store retailer Foxtrot received a $17 million growth funding round co-led by Imaginary and Wittington Ventures and has two new locations slated to open soon, the company has announced.
So, Foxtrot’s stores represent “a digitally native evolution of the corner store/cafe that marries the best of neighborhood retail and e-commerce technology to offer a thoughtfully curated collection of daily essentials, coffee and prepared foods available in-store or delivered in under an hour,” the Chicago-based chain said..
Nick Brown, co-founder and managing partner of Imaginary  stated “Foxtrot has built a brand that redefines the perception of what convenience stores can and should be for today’s consumers by marrying its digital roots with brick-and-mortar, focusing on community and bringing people into the stories around their product,”  “Seeing the loyalty of their customers over the past few years and how they’ve grown with Foxtrot, it’s clear to us that Mike and his team have created a unique omnichannel experience that we’re eager to partner with and take to the next level.”
Note: Foxtrot has seen 150% year-over-year growth of its e-commerce customer base, 250% year-over-year growth of its corporate team head count and two-times year-over-year revenue growth, the company said. Loyalty program customers shop at Foxtrot 10 times per month on average across both retail and e-commerce channels, it said.
Each Foxtrot retail location features hand-selected local and heritage products such as craft beer, wine, spirits, food, gifts and everyday essentials, as well as Foxtrot-branded and private-label items including coffee and prepared food, which account for 50% of sales. Consumers can also order in-store products through the Foxtrot app and e-commerce site and select on-demand delivery.
Grocerant niche Ready-2-Eat and Heat-N-Eat fresh food retailers edified with technology, fresh fast local food, and beverage the ilk of Eatzie's and Foxtrot will continue to garner urban locations displacing legacy branded food and beverage retailers that continue to do what they have all ways done and keep doing it the same way according to Johnson.
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