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.
SPECIALTY FOOD STORE RETAIL OPERATING STATISTICS
Average Annual Sales: $6,783,117 KEY STORE STATS
Store Size (sq. ft.) SKUs per Store Transactions per Week Transaction Size Suppliers Utilized Value of Inventory
Source: Mintel
The average specialty food store comes in at slightly more than 5,000 square feet and carries 2,112 SKUs. It is busy, sporting more than 3,000 transactions per week, at an average size of $41.49, an 11.4 percent increase over 2010.
Average Sales per Square Foot: $1,353.91 2011 Mean
5,010 2,112 3,144 $41.49 88
$315,357 EFFECTS OF RISING FOOD PRICES Retailers Raised Prices Taking a Lower Margin Increased Assortment of Private Labels
Reduced Selection of Premium (and Higher-priced) Products Added a Bigger Selection of Value-based Brands Other
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71 57 35 25 18 10
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NASFT asked retailers how rising food prices have affected their business. Seventy-one percent report raising prices yet 57 percent say they are taking a lower margin. It all depends on the product and the price elasticity that consumers will pay.
DOLLAR SALES CHANGES Up 1–9% Down 10–19%
10% 27%
Down 1–9% Down 20% or more
Down 1–9% Down 10–19%
Unchanged 12% 20% Up 20% or more Source: Mintel 6% 8% 27% Up 1–9% 2011 27% Up 10–19% Sustainable
*"Local" is defined as within 200 miles distance from operator. Data may not sum to 100 due to rounding
Source: Mintel
About one-fourth of sales in specialty food stores are natural foods and nearly one-fifth are local. Eco-Friendly and Fair Trade resonate less with shoppers, accounting for 6 percent and 5 percent of sales, respectively.
5)& 45"5& 0' 5)& 41&$*"-5: '00% */%6453: [ 15A 22% 14% 8% 19% Unchanged Fair Trade
About three-fourths of retailers report a sales increase for 2011. Many more experienced increases in the 10 percent and higher range than in 2010.
5% Eco-Friendly 6% 13% Organic 14% Local* 18% 2010 Up 20% or more Other 20% All-Natural 24% Up 10–19% SHARE OF NATURAL/ETHICAL PRODUCT SALES % of