UK-based FMCG suppliers need to become ‘master storytellers’ to succeed with grocery retailers, new research from category and shopper management specialist Bridgethorne has found.
The research calls for strategies that better demonstrate the category opportunity for a product based on consumer and shopper insights, if suppliers are going to get better cut through at the point of purchase.
Caryn Gillan, Director of Category & Insights at Bridgethorne. said “Research published in the summer of 2016 reported the number of new grocery products being launched by manufacturers into retail multiples in the UK is falling significantly.
“Retailers removing slower selling items had resulted in a 6% drop in the number of products on shelves and 13% fewer new branded items launched in 2015 compared to two years previously.”
Gillan adds that the market in its current state demands greater product innovation. She said that ‘shoppers demand it for variety, retailers need it for category growth’.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Aidan O'Sullivan. Click subscribe to sign up to ESM: The European Supermarket Magazine.