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Quality, value, choice and great margins are a must for any successful budget-priced range, and symbol group range innovations that reflect this are helping you to grow your sales.
1. Better fresh ranges – Suppliers have realised that customers are looking for quality, not quantity. This has been most noticeable in the rapid improvement of symbol groups’ fresh ranges. Since the rebranding of Nisa’s Heritage fruit and vegetable range, for example, the group has enjoyed a 17% rise in sales. Top sellers are bananas, white grapes and Gala apples, which stand out above the rest with sales up 194%.
2. Competitive pricemarking – gone are the days when retailers’ margins had to suffer in the name of footfall and competitive pricing. Now that pricemarking is more widespread, symbol groups have to make a case for why retailers should stock their products. The result is better returns on pricemarked products. Today’s’ most recent own label launch – 100g Select milk chocolate pricemarked at 59p – offers retailers 35% profit , and it has confirmed that these solid margins will continue for all pricemarked launches in2015.
3. Stronger own label offering – Whether it’s rebranding, redesigning, pricemarking or brand extensions, the growth of own label ranges stands as testament to their success. In just one year Today’s managed to grow its own label sales by 51% thanks to activity geared around improving the positioning and range of its products. The quality content of own labels has also been a big focus, and Spar is one group to have recently adopted the government voluntary traffic light labelling scheme that details nutritional content.
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