ConcentricConcentricConcentricConcentric
  • Why Concentric
  • Case Studies
    • OMB / Brand Leadership
    • Parla Pasta / Shift Model
    • Lindy’s / Driving Velocity
    • InnovAsian / Focused Growth
    • GOPO / Expand ACV
    • Goetze’s / Driving Velocity
    • Front Porch / Winning Share
    • Perlabella / Product Development
  • Work
  • Blog
  • Contact
    • Careers

Consumer Desire for Product Innovation is Changing the Retail Landscape

By Mark Conachan | Insights | 0 comment | 21 October, 2016 | 0

Matt Phillips of Quartz Daily Brief published an article on June 12: Conventional supermarkets in the U.S. are losing market share, slipping from 30.7% of the market in 2003 to 26.7% in 2013, according to Credit Suisse. The squeeze is coming from discounters such as Wal-Mart Stores and Target as well as specialty grocers such as Whole Foods Market and Trader Joe’s.

While a typical grocery store may carry 50,000 items, Trader Joe’s stocks only about 4,000. Less square feet, yet California-dreamin’ Joe has a far more unique selection. Take their top 2013 selling items for instance, released by Huffpost in May. You won’t see bread, milk, and eggs on the list.

#2-Speculoos Cookie Butter ($3.69), #8-Chili Lime Chicken Burgers with Sriracha ($3.49), #12-Rosemary Marcona Almonds ($6.49) and #17-Spinach & Kale Greek Yogurt Dip ($3.99). All of these products have one thing in common. Never seen the like at my traditional supermarket. Have you? And when have you ever seen a merlot or cab for two bucks in the wine section of what is supposed to be a “super” market?

Trader Joe’s is constantly innovating and introducing new products, some trendy, some just delicious variations of what we’ve all been dreaming about at night, like Triple Ginger Snaps, their #1 seller or PB&J chocolate bars. With Millennials demanding ethnic foods, they can turn to Trader Jose’s (Mexican food), Trader Ming’s (Chinese food), Trader Giotto’s (Italian food), Trader Joe-San (Japanese food) or Arabian Joe’s (Middle Eastern food). Four Uttapam with Coconut Chutney anyone?

The rise of awareness in gluten insensitivity has led to the innovation of a range of substitute flours ground from a host of alternative nuts and grains and Trader Joe’s is the conductor of the GF train, offering Organic Coconut flour, among others. Trader Joe’s is a dichotomy of down-to-earth and trendy and if you want to buy kale right when you read it on Twitter, Trader Joe’s will have it first.

I have to visit my Trader Joe’s to satisfy my craving for grocery innovation. I’m not alone. The Millennial study Concentric conducted this year cites multiple mentions of this and here are a few:

“Trader Joe’s has quirky fun food.”

“….offers unique flavors, great value, fresh ingredients.”

“….new and different and goes outside the normal food box.”

The smartest piece to all this is their permanent in-store demo, run by their own bubbly employees whose favorite thing in the store is what they are sampling today! Conventional markets shouldn’t be so dumbfounded by this phenom if they paid attention to the shelves on the other side. There’s a lot of green there.

channel insights, CPG, marketing insights

Related Posts

  • Meal kits farmer food crate

    The Recipe for Subscription Meal Kit Success

    By Mark Conachan | 0 comment

    Online, subscription-based services continue to multiply. Whether beauty products, snack food, pet supplies or fashion, more and more keep launching, confident they’re offering something the others aren’t. “Subscription” sold as curated convenience has become aRead more

  • The Whole Truth: A Wake-Up Call And 6 Lessons For Emerging CPG Brands

    By Mark Conachan | 0 comment

    The era of category management has created many positive changes for the food business, like giving retailers the tools to minimize supply chain risk while consolidating suppliers. But one of the negatives of buying byRead more

  • abstract poligonal background in blue tones

    Top 7 Food+Beverage CPG Predictions for 2018

    By Mark Conachan | 0 comment

    With the new year finally here, consumers and companies are looking forward and making predictions of what is to come. In the world of food and beverages, the industry perspectives are in and 2018 looksRead more

  • retail grocery competitive strategy

    Why Grocery Retailers Are Missing The Mark(et)

    By Mark Conachan | 0 comment

    Amid all of the media coverage of Amazon’s recent purchase of Whole Foods and Lidl’s highly-touted entrance into the U.S. market, one thing is abundantly clear: At least initially, grocery retailers are hyper-vigilant and fixated onRead more

  • Yessenia's parents in a photo as she talks with WSOCTV9 about Hurricane Maria

    Concentric’s Controller Taking Hurricane Relief Effort Into Her Own Hands

    By Mark Conachan | 0 comment

    We’re taking a break from writing about the business of CPG branding to cast a well-deserved spotlight on a Concentric staffer that has done something extraordinary.Read more

SEARCH A TERM

FILTER VIA CATEGORY

  • Branding
  • Direct Mail
  • Film | Motion | Video
  • Insights
  • Interactive
  • News
  • Outdoor
  • Package Design
  • Portfolio
  • Positions
  • Print
  • Social Content

SELECT A SUBJECT TAG

advertising insights agency art direction beer better for you beverages Bob Shaw branding careers channel insights CPG design digital disruption dogs Expo East Fancy Food Show Forbes frozen Frozen & Refrigerated Buyer frozen foods grocery ice cream innovation insights Lemon Grass Kitchen marketing insights meat natural new products news OMB outdoor packaging plant-based press Respect Foods retail shopper marketing social media staff storytelling strategy trade shows video

READ OUR LATEST POSTS

  • Tedor Branding March 13, 2018
  • Industrial Timber Speaker Gift March 11, 2018
  • The Recipe for Subscription Meal Kit Success February 9, 2018
concentric

500 East Blvd.
Charlotte, NC
28203

Call   (704) 731-5100
Follow  @concentric

  

Let’s Talk

Case Studies

  • OMB / Brand Leadership
  • Parla Pasta / Shift Model
  • Lindy’s / Driving Velocity
  • GOPO / Expand ACV
  • InnovAsian / Focused Growth
  • Front Porch / Winning Share
  • Goetzes / Driving Velocity
  • Perlabella / Product Development

Pages

  • Why Concentric
  • Work
  • Blog
  • Client Experience
  • Careers
  • Contact
Copyright 2021 Concentric Consumer Marketing Inc. | All Rights Reserved
  • Why Concentric
  • Case Studies
    • OMB / Brand Leadership
    • Parla Pasta / Shift Model
    • Lindy’s / Driving Velocity
    • InnovAsian / Focused Growth
    • GOPO / Expand ACV
    • Goetze’s / Driving Velocity
    • Front Porch / Winning Share
    • Perlabella / Product Development
  • Work
  • Blog
  • Contact
    • Careers
Concentric