Cotswold Fayre predicts that the convenience store sector will continue to premiumise its offering in 2017. Over the past 12 months the fine food distributor has seen sales of products in the sector increase by more than 40%.
With the convenience market constantly evolving to meet the demanding, and changing needs of modern consumer lifestyles the opportunities for convenience stores to capitalise on sales by diversifying and offering premium, quality products are ever increasing.
Research conducted with convenience retailers revealed that over the next year 45% of convenience retailers will seek to increase premium brand listings, with nearly two thirds (60%) seeking out local products and nearly a quarter (23%) predicting an increase in artisan products*.
The way we all shop is changing, gone are the days of the weekly ‘big shop’ - consumers are seeking out new products and speciality brands from their local stores – and importantly, they are happy to spend more on quality produce. This represents a real opportunity for convenience stores and forecourt retailers to captialise on the ‘top-up shops’ close to home or work; while also appealing to new customers by offering new and different products.
Over the past two years, our convenience stores orders have doubled in volume, with the top performing categories including snack wholesale, soft drinks wholesale, meal solutions and home-baking products. Be sure to check back next week for a full list of top selling products in convenience.
The market is changing so rapidly. Last year we also doubled our chilled foods product range in response to opportunities in the market – and for c-stores, chilled and fresh fruit and vegetables accounts for a quarter (23.8%) of sales** so it’s all positive news!
But in order to stay relevant, stores must continue to diversify and react to consumer demand for premium, speciality products – and offer something just a little bit different!
If you’d like to know more about which products sell well in convenience retail, then please do get in touch!
* The Local Shop Report 2016 – a report by the Association of Convenience Stores
** Research was carried out by him! in April 2016, telephone interviews with 100 retailers