Dear Executive,
The last time we spoke, we talked about innovation, and the importance of keeping up to the minute with new and exciting information around side-dishes in the store. We hope since then your steak dinners at the country club have been accompanied by a plethora of fresh vegetables, warm garlic mashed potatoes, and dinner rolls of exotic varieties. Today we have something new to discuss. And something smells “fishy” about this one. (You’ll get that joke in just a second.)
Frozen seafood is an interesting product in a lot of grocery stores. Some people love it, some don’t, but what is absolutely undeniable about this particular category, is the way shoppers feel about it, especially compared to the fresh seafood category. So let’s set sail for the frozen fish aisle. Did you know that more than 50% of shoppers are looking to frozen seafood as a price beacon category in order to help gauge how competitively priced the banner is overall? Well it’s true. And when they were asked why they made the purchase, over 40% said, “Because I feel like it,” indicating this is a more impulsive category. Jeesh, who knew shoppers could be so moody… Anyway, what makes this answer so interesting is that it ranks in the top 20 overall for the 103 categories surveyed across 10 banners in Ontario. In this instance, fresh seafood ranks number 2, but look on the bright side there Executive old pal, all that means is that fresh-seafood shoppers are way MORE inspirationally driven. So cheer up. All this is good news for you.
Since shoppers are buying up your frosty, filleted, and flaky fish sticks “in the moment” that means you have a real opportunity to capture these fickle members of society pretty easily in the aisle. Why don’t we reel in the details. We’ve uncovered that over 40% of frozen seafood purchases are unplanned, and as a result, nearly 30% of those unplanned purchases are made because of a promotion. We’re sure that we don’t need to bait you to which kind of promotion makes the sale, but just in case you’re feeling a little guppyabout the whole situation, let’s put to rest any trouts,…er, umm… doubts. PRICE promotions are what the people want to see in order to get that, “I’m feeling like it” feeling. In fact, out of the 103 categories surveyed, frozen fish ranked itself number 8 for shoppers making unplanned purchases on a price promo. So let’s cast a net over the conclusions here. (Man these are just too easy eh?)
So our dearest Executive X, in charge of frozen seafood for company Y, looks like you have some work to do! You’re dealing with a segment of shoppers who make up their minds to buy on a whim when they feel like it. But! Fear not, because all you have to do is focus your promotional opportunities on price and presence in store, and you’ll be swimming in all the additional revenue. What’s that? You don’t work for seafood company Y? You don’t even work within that category?! Wow, this letter went to the complete wrong place. Remind us to choose a different post office next time… Guess what? We can still help you with amazing shopper data and insights like this for any one of our 103 categories. It’s time you started figuring out why your shopper behaves in the way they do. We can’t wait to hear from you. Check the form below, and drop us a line! HA HA HA, they just never get old.
Sincerely Yours,
Shopper Intelligence North America
