For
additional information contact:
Katherine R. Clarke
TNS Retail Forward
614/355-4009
kclarke@retailforward.com
»
Small Food Stores are Big with Busy Consumers, TNS Retail Forward Reports
COLUMBUS, April 17, 2008—The future retail landscape will be filled with an increasing number of small-store food concepts as retailers strive to capture the attention of busy consumers, TNS Retail Forward reports. Recently released TNS Retail Forward ShopperScape™ survey results indicate that shoppers are ready and willing to shop the new breed of small food concepts.
“The combination of small size and a fresh, prepared foods emphasis is a compelling offer for the time-pressed shopper,” comments Jennifer Halterman, Senior Consultant with TNS Retail Forward and author of the recently published Retail Perspectives report entitled Small Stores, Big Trend. “The small-store trend, which more players are beginning to explore, is part of an ongoing evolution in the retail food sector and we expect more players to throw their hats into the ring,” she continued.
U.K.-based Tesco is establishing a small-store presence with its Fresh & Easy rollout in the United States. Not surprisingly, large U.S. food retailers such as Wal-Mart and Safeway are reportedly planning to open small-scale grocery concepts of their own in their quest to take advantage of the demand for convenience, attract the aging Baby Boomer, search for new growth vehicles and round out their store portfolios.
TNS Retail Forward’s ShopperScape™ research indicates that two-thirds of shoppers would definitely or probably shop a small food concept that places emphasis on convenience and fresh, prepared foods.
Shoppers Are Ready to Shop the New Breed of Small Food Stores*
| *Concept defined to include the following features: |
| • Specializes in fresh, prepared foods, e.g., “ready-to-eat” or “ready-to-heat and eat” meals |
| • Carries a basic assortment of grocery staples at competitive prices |
| • Carries gourmet, ethnic and organic specialty products |
| • Neighborhood location |
| • Is easy to shop, e.g., plenty of parking, not too big, smaller than the typical supermarket |
| • Has a quick checkout |
| Source: TNS Retail Forward ShopperScapeTM, February 2008 |
The small-store food concept attracts shoppers in various shopping modes from fill-in/quick replenishment and immediate consumption to grab-and-go.
“The jury is still out on whether small-format food stores will meet shopper expectations and company return on investment objectives going forward,” Halterman notes.
“Food retailers considering a small-store strategy must monitor and analyze shopper needs, attitudes and expectations well in advance of launch. They should also seek input from consumer goods manufacturer partners and pay close attention to local area demographics and cultural differences,” Halterman concludes.
###
About TNS Retail Forward
TNS Retail Forward. (www.retailforward.com
») is a global management consulting and market research firm specializing in retail intelligence and strategies. The company's syndicated research and executive development program, known as the Retail Forward Intelligence System™, provides members with an authoritative perspective on the retail and consumer products industries. The Small Stores, Big Trend Retail Perspectives report was published in the Food Drug Mass Program of the Retail Forward Intelligence System™. This Retail Perspectives series delivers TNS Retail Forward’s timely analysis of breaking news and the latest developments in the retail industry. To learn more about this report and program, contact Katherine Clarke at kclarke@retailforward.com ».
TNS is a global market insight and information group. Our strategic goal is to be recognized as the global leader in delivering value-added information and insights that help our clients to make more effective decisions.
As industry thought leaders, our people deliver innovative thinking and excellent service to global organizations and local clients worldwide. We work in partnership with our clients, meeting their needs for high-quality information, analysis and foresight across our network of more than 70 countries.
We are the world’s foremost provider of custom research and analysis, combining in-depth industry sector understanding with world-class expertise in the areas of new product development, segmentation and positioning research, brand and advertising research, and stakeholder management. We are a major supplier of consumer panel, media intelligence, and Internet, TV and radio audience measurement services.
TNS is the sixth sense of business.
www.tns-global.com
»