Heinz, is announcing the launch of a new initiative ‘Know Grocery. Grow Grocery’ in mid-February that is aimed at helping retailers to maximise profits within the fast growing convenience sector.
According to latest reports, the convenience and impulse sector is outperforming other areas within the grocery market and is currently experiencing a growth rate of+8.9%.
The sector is currently valued at, £32.4bn and is projected to grow by another £10bn in five years. Despite healthy levels of growth, retailers are missing out on lost sales by unintentionally neglecting grocery shoppers. By not giving the grocery category the focus that it requires, some retailers are not stocking their shelves with the right products or in the right way.
Research shows that:
As a result, convenience is currently achieving a 10% penetration and even less on impulse purchases.
In response, the new ‘Know Grocery. Grow Grocery’ initiative from Heinz aims to enable convenience retailers to capitalise on these potential growth opportunities. By following a few simple steps, retailers can increase sales of both Heinz and grocery products.
Heinz will be communicating specific range and display advice via a ‘Know Grocery. Grow Grocery’ website and category management guide, which goes live on 20th February. This includes information and advice on stocking the right range, displays on-shelf, merchandising and promotions which can be downloaded from www.growgrocery.com.
Ultimately, this hopes to help to add to retailers’ bottom line, by helping them to keep up with the changing competitive landscape and increase overall customer footfall.
Simon Digby, Head of Convenience & Impulse, Heinz, said:
“The grocery category is the backbone of any busy convenience store, but our research shows that retailers could be missing out on huge sales opportunities during the year through a lack of focus on the grocery fixtures.
“Through the ‘Know Grocery. Grow Grocery’ initiative, Heinz is committed to working with independent and convenience retailers by providing them with the tools to enhance their knowledge and expertise within the grocery category.
“Combined with their own knowledge of shoppers’ needs, they will be able to maximise sales opportunities and help to ‘Grow Grocery’.”