Steven Johnson Grocerant Guru® at Tacoma, WA based Foodservice Solutions® understands that consumers are dynamic not static and that brands need to be dynamic as well. One way he suggest convenience stores stay dynamic is with new Ready-2-Eat, Heat-N-Eat fresh prepared food and new CPG products as they help drive the new electricity need to elevate brand relevance. Success does leave clues
Johnson continues to pointed out over the past several years that empowering consumer choice around grocerant niche Ready-2-Eat and Heat-N-Eat fresh food would garner incremental customer transactions, larger share of food dollars, and larger share of stomach.
C-store are that are going to thrive will new a new electricity to drive incremental top line sales and bottom line profits with new strategic partnerships. According to Johnson; partnerships specifically strategic partnerships with CPG manufactures that offing new product in 2018.
Johnson stated “in my minds-eye the new electricity must be very efficient for the supply chain and includes such things as digital hand held marketing, local fresh food, grocerant consultants, better-for-you food and food products, urban farming (produce, seafood, etc.), autonomous delivery, cashier-less retail, cash-less payments, delivery, and voice ordering.
The next generation of C-store retail must embrace artificial intelligence revolution while simultaneously embracing food that is portable, fresh, with differentiation that is familiar but with a twist. IRI in a New Product Pacesetter report found: “All of the top 10 convenience channel Pacesetters are pure indulgence products (except for bottled water), which reflects consumers' ongoing desire for healthier-for-you indulgences”
Thousands of new brands hit retail shelves during 2017, with 49 percent of the top-ranking brands hailing from small manufacturers — defined as those earning less than $1 billion annually — and accounting for 26 percent of Pacesetter dollars. Overall, the top-selling 200 new brands captured cumulative year-one sales of more than $4.6 billion.
Note IRI found that the top 100 food and beverage champions, median year-one sales were $14.5 million, excluding outlier Halo Top, which earned year-one sales of $342.2 million (ranked No. 1).
All of the top 10 New Product Pacesetter brands were new market entrants, though many of these benefited from the equity their manufacturers already enjoy in the marketplace, like Dunkin' Donuts Iced Coffee (No. 3), Nestlé Splash (No. 4) and Hershey's Cookie Layer Crunch (No. 7), according to IRI.
In the dinner sector, the largest launch was SmartMade by Smart Ones (No. 6), a frozen meal inspired by ingredients and cooking techniques used at home. Eighteen of the 76 food Pacesetters are breakfast solutions, which cater to consumers at both ends of the wellness spectrum by offering both indulgent flavor experiences, such as Kellogg's Cinnamon Frosted Flakes (No. 19) and healthier, on-the-go options, like Jimmy Dean Delights Frittatas (No. 23).
So just what is your New Electricity? Success does leave clues www.FoodserviceSolutions.us is the global leader in grocerant niche business development. We can help you identify, quantify and qualify additional food retail segment opportunities. If you are manufacture do you have an ideal target client? If you are a retailer are you looking for the perfect ideation? Call 253-759-7869 Email: Steve@FoodserviceSolutions.us
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