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Retail Insights
Profit from New Year's Resolutions

Every year New Year’s resolutions affect the buying habits of consumers. After the delights of festive food and drink, the most popular resolution is to get fit and healthy. This is a great opportunity for convenience retail! Nielsen’s ‘Top New Year’s Resolutions Fitness and Consumer’ survey 2015 highlighted staying fit and healthy as the top resolution at 37%, closely followed by 32% wanting to lose weight and only 16% not making any resolutions at all. The Retail Data Partnership (TRDP) have uncovered insights that will help you to profit from this trend. New Year is traditionally the time when we take a long hard look at our bad habits from the past 12 months and vow to do better. It wouldn’t be a mistake to think that ‘old habits die hard’, but:

"…in 2015 58% of people who made New Year’s resolutions retained them according to a Survey by Ipsos on behalf of Motivation Weight Management.

To avoid a disappointing start to the New Year, retailers need to stock the right produce to help support resolutions and drive sales.

Buying in healthier meal deals and ready meals will drive sales and increase your profit margin because healthy products are achieving three times more sales growth than conventional food products are in Western Europe. Giving consumers a choice of healthy options as well as conventional products will increase your profits by targeting different audiences.

"A survey conducted by SuperMarket News in 2015 found that 80% of wholesalers and retailers had sales growth in healthy products. A third of survey respondents reported an astounding 20% increase in annual sales.

Healthy meal deals are a popular choice for consumers trying to shed a few pounds, particularly if they are brands they have purchased before which they know and trust. Promote healthier meal deals in January to meet the needs of your new improved, healthier consumers. For example, a £3.99 meal deal including a sandwich with a choice of lightly salted crisps, and a diet or zero-calorie soft drink.

To catch the early risers, stock a variety of healthy breakfast bars. Have promotions on your early morning ‘grab and go’ selection and lead your savvy consumers into a virtuous start to the day. Drive sales on these lines by placing them prominently, near the till for example. Increase impulse buying by creating an eye-catching fixture.

Capture those on juice diets with a range of vitamin-rich smoothies in a variety of flavours such as mango, pomegranate, apple, kiwi, pineapple and banana.

"Research carried out by TRDP found that only 27% of retailers do not stock fruit and veg.

Stock fruits that ripen at room temperature like kiwi, banana, nectarines, plums, pineapple, citrus, apples and pears. Storing produce at room temperature will free fridge space for milk, soft drinks and sandwiches. Stock vegetables that are long lasting and available all year, like potatoes, carrots, onions, garlic and radish. Displaying fruit and veg alongside an offering of healthy snacks and conventional items will boost product variety, drive sales and increase your footfall.

While most of your customers will keep their New Year’s resolutions, drive sales of healthier food by encouraging them to stick with your new, and improved selection. Ultimately, it’s all about buying in the right produce and re-evaluating your promotions strategy for January 2016. However, don’t forget classics such as sweets, chocolate, crisps and fizzy drinks – not everyone sticks to their New Year resolutions!

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