As any retailers reading RN’s latest What to Stock guide this week will see, manufacturers who have continued to innovate and invest in their brands, in spite of difficult economic conditions, have reaped the rewards in independent stores.
While many of the leading brands maintained their position at the top of their respective category, the wealth of new lines entering the charts this year – many of which offering pack sizes, pricemarks or RRPs launched with convenience businesses in mind – show there is still plenty of opportunities out there for companies to make an impact in this sector.
It’s a strategy that also appears to be paying off for Wrigley, after marketing director Pamela Bower-Nye revealed to me that its 5 gum is seeing positive results following a reduction in pack size and price in February.
Ms Bower-Nye admitted that the original 97p RRP for 5 had “not hit the mark” with its intended target audience of 14- to 25-year olds. However, the switch from 12 sticks to seven stick packs and a new RRP of 59p has led to a sales boost for the brand (find out more on p11).
Obviously, a lower price means a smaller margin for retailers, but Ms Bower-Nye is confident a poster campaign for 5, launching this month, will keep the product in the public eye and lead to greater volume sales for independents.
Adopting a convenience-friendly approach to its brands has certainly paid dividends for Wrigley, and is a trend that looks set to continue throughout this year and beyond – meaning even more good news for retailers come What to Stock 2014.
