FMI May 2010
I recently attended the FMI 2010 Show (Food Marketing Institute) in Las Vegas, the largest and most comprehensive food industry event in North America. The show was touted as a big success with attendance up and most attendees full of optimism.
People were talking about brand loyalty being critical to food retail and the importance private label store brands have in the market especially when shoppers have to make their grocery dollars go farther. In fact, I was informed that 97% of shoppers will purchase the same amount or more private brands in the grocery store in 2010 / 2011. These facts are real and add a sense of panic to brand owners and licensees who are vying for shelf space.
Competing with other brands is one thing but competing with your retailer is another and brand owners are looking for solutions that will maintain and increase their marketshare. There is no easy solution here but it seemed that product differentiation, creativity, customer service and speed to market was the buzz coming out of the show. Being a step ahead of the retailer by offering something unique that fills consumers’ wants and desires will help brand owners maintain brand loyalty and hopefully increase marketshare.
MODA was at the show launching a line of licensed America’s VetDogs® dog treats by Bil-Jac — to much success. Attendees seemed to really understand that by purchasing a package of America’s VetDogs® dog treats they were giving back to an amazing organization that supports our American disabled veterans and heroes (differentiation) by providing soldiers with service dogs that allow them to re-enter domestic life with dignity and a sense of purpose (unique). Bil-Jac also stepped up to the plate and saw the immediate opportunity by landing a national retailer to roll-out the VetDogs® dog treats in August 2010 (speed to market).
