Half of shoppers are looking to save money on their grocery shopping over the next six months, according to a report published yesterday by the IGD.
It’s no surprise when just this week new child benefit regulations came into force, cutting over £1000 worth of benefits a year for many families.
A few years ago, before the recession kicked in, consumers would be buying the same products week in and out, whereas now, more than ever, shoppers are basing their meals around what’s on offer.
And with more people shopping online, and doing price-comparisons while they’re at it, you can’t escape the pressure to offer better deals and discounts.
This presents both opportunities and challenges for wholesalers: promotions will clearly need to form an important part of your business strategy for 2013 – if you don’t have big plans, get thinking.
But it’s not all about BOGOFs and regular discounts; vouchers were a big hit last year in the major supermarkets – consumers love them – and just last week, SPAR announced the trial of its first voucher scheme. Why don’t wholesalers offer something similar for their retail and catering customers?
In August, we visited Bestway Gateshead in Newcastle to see how the implementation of a trial voucher scheme on a tobacco product helped them to increase category sales with retailers by 10%. There could be great value in trying this across a range of products, particularly those with higher margins.
The challenge is securing supplier support. Many suppliers have already told us that they are willing to support wholesalers that come to them with innovative ideas, so let us know how you get on.
For more information on the IGD report, visit:
http://igd.com/Media/IGD-news-and-press-releases/IGD-commentary-on-food-and-grocery-section-of-Retail-Sales-Monitor/
