Pricewatch 31 August, 2018: Protein products

Analysis

Pricing strategies on protein products are largely uniform as this week’s Profit Checker graph, covering the Snickers Protein Bar 51g, shows. 

The vast majority of retailers – almost seven in 10 – stick to RRP, at £1.89. All the stores in our Price Checker table priced at this level. Of the few who price differently, nearly all charge 10p more, pricing at £1.99. 

Barely any retailers sold below RRP. Retailers explained their pricing decisions were based on a desire to maintain margins while continuing to attract customers, and undercut potential competitors, such as gyms, in a category that is currently seeing strong growth.

Profit checker

PRICE Price distribution %

Price checker

PROTEIN BAR Av Price Booker RRP LARGE TOWN CENTRE IN LARGE SOUTH WALES TOWN POST OFFICE AND SHOP IN PRECINCT IN GLASGOW SUBURB SOUTHAMPTON CITY CENTRE DHOP LOCAL NEIGHBOURHOOD SHOP IN LONDON COMMUTER SUBURB C-STORE IN RESIDENTIAL SUBURB OF LARGE TEESSIDE TOWN C-STORE IN BUSINESS AREA OF SWINDON
GRENADE CARB KILLA PROTEIN SHAKE FUDGE BROWNIE 330ML £2.42 £2.49 £2.49 £1.99 £2.49 £2.49 £2.29 £2.49
SNICKERS PROTEIN BAR 51G £1.86 £1.89 £1.89 - £1.89 £1.99 - £1.89
MARS PROTEIN BAR 57G £1.82 £1.89 £1.89 - £1.89 - £0.50 £1.89
BOOST PROTEIN 310ML £1.28 £1.29 £1.29 £1.29 £1.29 - - £1.29
GRENADE CARB KILLA PROTEIN SHAKE COOKIES & CREAM 330ML £2.40 £2.49 £2.49 £1.99 £2.49 £2.45 £2.29 £2.49
NATURE VALLEY PROTEIN PEANUT BUTTER & CHOCOLATE 40G £0.85 £0.85 £0.85 - - £0.85 £0.85 £0.85
NATURE VALUE PROTEIN SALTED CARAMEL 40G PM 85P £0.85 £0.85 £0.85 - - £0.85 - £0.85
EAT NATURAL PROTEIN PACK £0.98 £0.89 £0.89 - £0.99 - - £0.89
GRENADE CARB KILLA PROTEIN SHAKE CHOCOLATE MINT 330ML £2.41 £2.49 £2.49 - £1.99 - £2.29 -
TREK PROTEIN BAR 55G £1.06 £1.25 - - - £1.45 - -
WEETABIX PROTEIN DRINK CHOCOLATE PM£1.50 £1.46 £1.50 - £1.50 - - £1.50 -
WEETABIX PROTEIN DRINK VANILLA PM£1.50 £1.48 £1.50 - £1.50 - - £1.50 £1.50
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Data supplied by

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How we drive our profit

Kam Singh Nijjar Avatar

Kam Singh Nijjar

Spar Meriden

Location: Coventry

Size: 950sq ft

Type: village

Top Tip
Listen to reps and your customers, and keep tweaking your range in line with their advice
The protein shakes sell better than the bars: I have got a £2 Ufit protein drink that is probably our bestseller. The Grenade products do well, too, especially the White Chocolate Cookie bar. It’s still mainly gym-goers that buy them, but other customers do if they’re feeling a bit run-down or need an energy boost. They’re seen as healthier alternatives to energy drinks, which are a bit gassy. We stick to RRP – customers know what they cost in the gym, for example, and we want to make sure we are cheaper than that so that they’ll come here first.
Anish Parekh Avatar

Anish Parekh

Londis Broadoak Post Office

Location: Ashton-under-Lyne, Greater Manchester

Size: 1,000sq ft

Type: neighbourhood

Top Tip
Stock a range of bars, as different lines appeal to different types of customer
I was pretty sceptical about protein bars at first, but some lines are doing really well now. The Arla bars are popular – they have an RRP of 89p and I sell them at 99p. The own-brand Happy Shopper bars, pricemarked at 89p, are popular, too. I recently added the Grenade line to our range and they are doing fine, and just a few days ago we added the Boost protein bar, at £1.19 RRP. Different varieties are aimed at different groups: some, like Nature Valley, are more breakfast bars, while others such as Grenade are more for serious gym-goers.
Anita Nye Avatar

Anita Nye

Premier Eldred Drive Stores

Location: Orpington, Kent

Size: 1,200sq ft

Type: residential

Top Tip
Match your prices to your area – there is no point overpricing here, people would notice
We do a range of protein bars – Grenade, Nature Valley, Happy Shopper and Trek, and I have just ordered in Kellogg’s Special K – but I find the drinks tend to sell better. The Protein Boost drink at £1.29 is one of our bestsellers in the category, for example. Otherwise, pricemarking works – the Nature Valley bars are pricemarked at 85p and sell well. Promotions also help: Grenade bars are currently reduced from £2.49 to £1.79 and are selling much better as a result. We tend to stick to RRP, it is just easier for us to manage.
Bhupinder Singh  Avatar

Bhupinder Singh

Newhouse Mini Market

Location: Kilbirnie, Ayrshire

Size: 1,850sq ft

Type: main road

Top Tip
Use cash and carry brochures to keep an eye on product launches, and try out new lines
Protein is one of our best categories. We have a few community football clubs around us and the teenagers buy a lot of the drinks and bars. All the branded shakes – Mars, Snickers and Weetabix – do particularly well. They’re mostly pricemarked these days, so we don’t have much freedom in what price we put on them. I used to make my own pricing decisions, but nowadays almost everything is pricemarked – and, to be honest, it’s worth sacrificing the margin as it definitely helps sales. It’s not just people who go to the gym who buy them, it’s also construction workers.

Find out more about RN’s definitive guide to the best-selling products that you need to have on your shelves.

Read more

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