The grocery market is expected to continue shrinking until the middle of next year. According to Kantar Worldpanel grocery market sales slid 0.2% over the 12 weeks ending November 9, the first decline since its records began in 1994. To make matters worse it’s likely to continue well into 2015 while at the same time the market gets increasingly competitive.
It’s a great time to be a grocery retailer
If you can convince shoppers to buy from you. The secret of success is to make everything easier for shoppers. The easier it is the less relevant price becomes for the majority of shopping trips. For example in fashion they call it the “edit” in Marks and Spencer they call it the £10 meal for two. It’s a limited range of products that go together. It makes selection easy because the store has already done the work for the you. Instead of wandering around the store looking for the individual components they are all in one place. You might not normally buy a dessert but when it’s part of the meal deal – why not.
The £10 meal deal is just the start
There is the £6 Asian meal deal, the £20 gourmet meal deal, the £12 vegan meal deal. It’s easy to get the concept. It’s so simple. The shoppers get less price concious and spend more. The challenge for some retailers is being able to present the “deals” in a clear, simple and flexible way. If it’s not easy for the retailer it won’t be executed well. This means that it won’t be easy for shoppers. The net impact on sales could be dramatic. Is your signage software up to the challenge?
If you want to hold market share and/or grow sales using a range of flexible meal deals your signage system needs to be reviewed. If you want to know what’s possible with more current signage solutions we should talk.