Specialty Food Magazine

APR 2013

Specialty Food Magazine is the leading publication for retailers, manufacturers and foodservice professionals in the specialty food trade. It provides news, trends and business-building insights that help readers keep their businesses competitive.

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SPECIALTY FOOD STORE RETAIL OPERATING STATISTICS Mean Annual Sales: $3,276,273 Mean Sales per Square Foot: $640.77 KEY STORE STATS DOLLAR SALES CHANGE 2012 Avg. Store Size (sq. ft.) 5,113 SKUs per Store 1,366 Transactions per Week 1,925 Transaction Size 2012 % Up 20% or more Up 10–19% Value of Inventory $156,187 48 Unchanged The size of the average specialty food store is slightly over 5,000 square feet, with 1,366 SKUs. Nearly 2,000 customers purchase each week. Average transaction amount is $32.73, a 16.7 percent jump over 2011 figures. PURCHASING CHANNELS: DISTRIBUTOR OR DIRECT 2010 % 49 49 2 2011 % 1 Down 20% or more – Source: Mintel Nearly 90 percent of retailers had a sales increase in 2012, with 41 percent reporting a jump of more than 10 percent. Only one in 20 recorded a sales drop. 2012 % 48 45 7 4 Down 10–19% MARKET 6 Down 1–9% Source: Mintel Direct from Suppliers Distributors Other 29 Up 1–9% $32.73 12 44 53 2 CHARACTERISTICS OF PRODUCTS SOLD % Carrying Products with Claim % of Sales Data may not total 100 due to rounding Source: Mintel As retailers have streamlined processes and staff, slightly more than half of purchases now come through distributors. This reduces the amount of vendor orders and invoices/paperwork and helps achieve volume discounts. SOURCES FOR DISCOVERING NEW PRODUCTS % of Retailers Fancy Food Shows 81 Trade magazines 61 88% Local* 21% 83% Organic Sustainable 15% 64% 13% 81 Presentations at store 40% 85 Customer recommendations 95% All Natural Fair Trade Eco-Friendly (e.g., by brokers, distributors) Source: Mintel Other trade shows 22 Other 20 56% 6% *"Local" is defined as within 200 miles of operator Multiple answers accepted 31 Travel to the source 60% 9% (e.g., single-origin chocolate production facilities) Multiple answers accepted All natural and local are the leading characteristics of products sold, with nearly all retailers carrying products with these claims. Local products in particular have become the most viable ways for specialty retailers to market specialty foods that differentiate their stores, often without a hefty price tag. There has been increased attention toward sustainable and eco-friendly products over the past few years. Source: Mintel Since the State of the Industry research began eight years ago, the largest share of respondents indicate that the Fancy Food Shows are the prime venue to discover new products. Customer recommendations and trade magazines also remain essential. GROCERY THE STATE OF THE SPECIALTY FOOD INDUSTRY 2013 15A

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