After increasing the price of most of its products from $1 to $1.25, Dollar Tree is planning to use the higher price point to add more consumable items to its shelves. CEO Michael Witynski said the higher price allows the chain to bring back "many customer favorites and key traffic-driving domestic and consumable products" that it had stopped selling.
Massachusetts towns Braintree and Saugus are poised to become home to the first Amazon Fresh stores in New England, according to a report. The site in Saugus is the former home of a Big Y grocery, while the Braintree location is a 37,500-square-foot store that once housed a Saks Off 5th.
J.M. Smucker's net sales grew 8% for its second fiscal quarter, exceeding company expectations and prompting a raise in its sales growth guidance for fiscal 2022. A marketing strategy that balances mass and targeted outreach, inflation-related pricing action and "meaningful innovation" created "robust, organic top-line growth across each of our segments, reflecting consumers' continued desire for our brands and the successful implementation of initial pricing actions," said CEO Mark Smucker.
Dollar Tree will increase prices from $1 to $1.25 on most of the products sold in its stores by next April, marking its first permanent pricing increase in 35 years. The retailer, which has about 16,000 stores in North America, said most surveyed shoppers said they would continue to frequent Dollar Tree after the increase and the higher price point will allow the retailer to bring back some items it had previously discontinued.
While the start of the pandemic was good for private label sales because national brands were harder to find, today's shoppers are finding new reasons -- such as price -- to buy own-brand products and FMI's Doug Baker remarked that "[c]onsumer trust is strong and growing" in private label offerings. Industry experts weigh in on the trends of private labels and how grocers can better leverage the growing category.
Sustainability has become a priority for consumers and Acosta's Sustainability Impact on Purchase Behavior report shows 59% of shoppers say they are trying to be more conscious of the environment when making purchases. The pandemic has only served to grow that sentiment, the research shows, and Acosta's Colin Stewart says grocers "have an opportunity and responsibility to think through their environmental footprint and deliver value in ways that matter increasingly more to their customers."
Building and maintaining a series of digital touchpoints to connect its banners and customers -- and linking that with a strong brick-and-mortar network -- is creating an omnichannel "ecosystem" that will drive future growth, Ahold Delhaize CEO Kevin Holt says. Holt discusses the grocer's plan to add $11 billion to its bottom line and double its online sales by 2025, saying there is "opportunity for us to build this out to get that ecosystem much tighter in the local community and be able to move the personalization much more to consumers' lifestyle needs."
Having plenty of choices in the produce department has become a key expectation for many of today's consumers, and FMI's 2021 Power of Produce report reveals one-third of shoppers bought a larger variety of fruits and vegetable within the last year, FMI's Rick Stein writes. With price, value and freshness emerging as added drivers, Stein urges produce providers to "work with retailers to better promote and sell fresh produce in the different commerce channels consumers are using," adding that "many opportunities are there for the picking."
Hormel Foods CEO Jim Snee said the pandemic-related spike in demand has created the most complex operating environment he has experienced in his 32 years in the consumer packaged goods industry and shows no signs of slowing down. Snee added the labor shortage is starting to ease, which will likely lift pressures on product availability.
Drunk Elephant, Glossier and Sunday Riley are among skin care brands that have embraced fermented ingredients. "Fermented ingredients like sake extract are probiotics, too, which when applied topically, can help support the health of the microorganisms that make up the skin's microbiome," says Drunk Elephant founder Tiffany Masterson.
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