Demonstrating value to consumers in a time of food inflation and squeezed wallets
Tessa Stuart
When recently asked about their shopping habits by the Office of National Statistics, over 4 in 10 UK adults said that they were buying less food when food shopping.
In my shopper research of over 200 people this July, I found that shoppers were switching to own label from brands in many categories, switching out of their supermarket to a cheaper one, or to a discounter, and very alert to promotions in supermarkets.
They are quick to reject what they see as “excessive” pricing and they shop comparatively, comparing the price of your product to own label.
As a food or drink brand, it is more important than ever to demonstrate value to the UK consumer.
Value is special ingredient combinations, like Pip & Nut’s unique Cherry Bakewell nut butter flavour.
You can win by offering something they can’t get in own label.
Value is versatility, like plain Dairy Free yogurt, which can be combined with fruit or granolas.
Bold Bean, a premium jarred bean brand, fill their Instagram reels with tempting easy recipes and send out an email newsletter to their online bean buyers with links to these recipes.
So, show the value, through versatility, ingredients, ease of use, and don’t over-price too far.
If you’re new, use straightforward promotions to de-risk the purchase for shoppers.