All Aboard! Where To? Mmmm Not Quite Sure!

There’s so much happening in the world of food, and we do our best to explain past and anticipate future developments in the global food industry for you. For example, we have talked about:

  • demographic and lifestyle changes in all markets that are driving growth in meal solutions at the expense of “traditional ingredients”;
  • the 3 meals a day family eating format breaking down as mini-meals and snacking surge across the world;
  • consumers seeking fewer, more natural, “pronounceable” ingredients;
  • some dairy products declining but sales of plant-based proteins going through the roof!;
  • a ferociously competitive global retail sector with the big guys desperate to stem market share losses and return to sales growth and distinct polarisation between the discount and premium ends of the retail spectrum;
  • on-line grocery finding its place in many markets and the increasing convergence of food retail and food service;
  • retail brands (private label) edging forward in some countries at the expense of secondary national brands; although stalling where retail range rationalization has taken a severe toll on manufacturer and retail brands in mature markets;
  • increasing concentration in big agribusiness with the Giant Six firms emerging as the Gigantic Four;
  • “Big Food Bad Food” struggling in developed markets and hell bent to change radically their portfolios and partner with or purchase fast-growing start-up companies with natural and artisanal credentials;
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Here is David, talking in Canada about the huge growth in consumer and investor interest in plant-based protein foods.

  • environmentalists clamouring for new agricultural and food production models to respond to a burgeoning global population which is upgrading its diet to more premium meat proteins (although in developed markets, per capita meat consumption has clearly peaked);
  • and, then, of course Brexit – with the prospect of an end to 32 months of food deflation in the UK as sterling plummets against other major currencies;
  • yet, notwithstanding the neo-Malthusian outlook associated with global population growth and dietary change, world food commodity prices have been in slow decline for 5 years or so (only stabilizing in the past 4-5 months). With an increasingly unpredictable climate, are we to face the spectre of a return to hyper-price volatility for food staples?;
  • and, as consumers increasingly seek more “credence attributes” in their food and drink (e.g. free-range/-from, “green”, socially-conscious, known provenance, etc.), then, so the risk of food fraud grows with the consequential threat to major manufacturer and retail brands.

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Fresh produce is one of the key sections for the Spanish Grocers, competiting with independent greengrocers.

There’s so much more that will have a direct impact on the future of your business in this second half of 2016. Next year will be a raucous ride – buckle up seatbelts and crash hats on!

This Summer, David and Miguel are travelling to Australia, New Zealand, Thailand, Malaysia, Cambodia, South Korea, Brazil, Argentina, Uruguay and Spain. So expect some “exotic” posts during this period – we’re collecting food industry insights for our Autumn talks. If you’re mulling over 2017 and beyond business plans we are ready to speak to your board, senior managers, present and prospective customers, or other stakeholders, discussing topics in English or in Spanish.

Posted in General, Uncategorized

Oh, BREX IT!

 

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After the Brexit, brace yourselves for the Great British Summer! (Picture of Asda Store)

What a seven days! Out of the EU and England out of the European Soccer Championships. Those pesky Vikings bounced us in 793 AD and 1223 years later repeated the dose. Grocery cartoonists have had a field day: “Imagine if we had been playing Aldi?”. To rub salted cod in the wounds, Iceland beat us in establishing a democratic parliament, too (930 AD). We’ve been good at inventing games (e.g. soccer, rugby, cricket, golf) and, then, enjoyed admiring those countries that excel at them! We didn’t invent the  referendum but we should have done and shown the world how it can be used to establish the archaic sport of wall-building!

So, 7 days ago, the nation’s majority voted for BREXIT, after more than 40 years of being part of the EU (as it became). Mind you, Charles de Gaulle vetoed our membership of the European Economic Community in 1963 (he was still peevish about our Agincourt success in 1415). Let’s be honest, we’ve always been reluctant members which is strange as the English aristocracy invented the notion of a “Gentlemen’s Club”! But, we think the nation was genuinely surprised when they woke up on Friday morning to embrace BREXIT – and believe that many of the brexiteers really wanted to give that lot in Brussels a  jolly good kick up the pants and, now, have a sneaking suspicion that we have contracted Munchausen’s syndrome (the predilection to do self-harm).

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No worries Chorizo Lovers! No import tariff will ever be applied to the Chorizo we manufacture in this country!

We don’t have much wisdom on the immediate implications of this historic decision. Plenty of analysts and pundits have said very little, but do have a peek at James Walton’s (IGD) views on the impact of Brexit on the UK grocery industry. Frankly, nothing much is going to happen in a hurry, but give consideration to factors such as:

  • the resilient stock market has bounced back but forex rates may take longer to align – as a major food importer, a weaker pound may place upwards pressure on food prices for consumers and on imported ingredients for manufacturers, but UK exporters may give two cheers (better export prices but higher costs);
  • the EU has a range of relationships with third countries that may suit or could be modified to suit us and them. Remember, too, that we run a £15 billion deficit with the EU on grocery trade and, so, we are hugely important trade partners for our European neighbours;
  • of course, we can negotiate trade deals with countries and trading blocks that, currently, are covered by the EU but this will be a long and tortuous process and VERY taxing for our public servants who are a little out of practice in such dark arts:
  • we are low-60’s% self-sufficient in food and, in an era where buying local/national has become de rigueur, there’s plenty of upside in our home market but, then, our home market is only 65 million rather than the 510 million in the EU;
  • we’ve been surprised at the Brexit support given by farmers – taking close to half the total EU budget, direct financial support to farmers comprises a significant portion of total farm income of, in particular, smaller-scale producers. For them, may the UK national government be as munificent!

Is the future rosy or bleak?: likely, something in between. In part, it will depend on the performance of our political leaders and, as of right now, it’s difficult to be enthused with optimism! Our grumpiness reflects that, whereas by no means ideal, the EU has and does represent a political and economic front that is substantial and demands respect from other major world players. Even darker, imagine if the Brexit legacy was the break-up of the UK?! Both of us are or have been immigrants and firmly believe that fluid movement of labour can and does bring benefits to all. Anyway, take some deep breaths and get stuck in for the long haul. Our bet is that the UK food and drinks industry will be stronger and more resilient by decade end than it is now.

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We are ready if the future means less olive oil in our shops!

What of the football? Look, Miguel is Spanish and is still in denial that Spain has failed to reach the quarters and David is Welsh and thankful that his soccer team is having more success than his rugby team did in New Zealand. Onwards!

Posted in General

Plant Power to the People!

Eating up our vegetables used to be a chore but, now, it’s becoming a lifestyle statement. If we aren’t woofing down courgetti, we’re swigging holier-than-thou kale and spirulina smoothies. So, what’s going on? Two principal things which are inter-linked:

  • we’re not all turning into vegetarians but we (and, particularly, women) are electing to have more plant-based meals and snacks than previously. Why? The deadly dull nut roast and soyburger is dead and, now, we can buy really tasty, colourful, convenient vegetable- and pulse-based foods. What’s more, they are consonant with healthy lifestyles. Brassicas are in vogue – who’d’a’ thunk it!;
  • concomitantly, in many higher income countries, consumers are electing to reduce their meat consumption (particularly red meat). Reasons offered include (in order of importance) – healthier diet, saving money, animal welfare concerns, food safety worries, and saving the environment.

In the retail and eating out sectors, nimble companies, often new start-ups, have been quick to harness the power of plants. Alpro is, perhaps, the doyen – 36 years old and offering 100% plant-based food and drinks which are 100% dairy- and GMO-free. Winner of The Grocer  2016 brand of the year , Alpro beat out classic UK companies such as Warburtons, United Biscuits and Young’s with its on-trend “free from” drinks, yoghurts and desserts made from soy, hazelnut, almond, coconut, rice and oats.

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Take a look at Rawligion in Central London offering a wide range of super premium juices and other drinks. The coffee is ‘cold-brewed” to maintain the “raw” mantra. Incidentally, eating and drinking raw foods isn’t new – in the 19th Century, Reverend Graham, inventor of the Graham cracker and Maximilian Bircher-Benner with his eponymous muesli were early raw food zealots (mind you, both of them were crackers!).

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Prêt-à-Manger has ramped up its range of vegetable-based meals and snacks under the strap line “Not just for Veggies”i

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Additionally, Prêt has opened a completely vegetarian restaurant in Soho, London. Its competitor Leon has banners outside its restaurants espousing “The Power of Plants” to promote its Summer range of vegetable-based meals. What’s next – a veggie Tesco Express?

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Are you a spiralizer? It’s fashionable to be so! Courgetti – spaghetti-style courgettes/zucchini and boodles – noodle-style butternut squash – are much in vogue. These are brilliant new products which have breathed new life into traditional vegetables. And what about cauliflower rice and cous cous? Cauliflower is flying with our favourites being seared cauliflower steaks and cauliflower hummus.

Putting vegetables “centre of the plate” isn’t new, of course, and the myco-protein (a mushroom-like fungus) Quorn has been at it since 1985. Significantly, however, Quorn is merchandised in the meat cabinet. The Cooperative retailer trying to woo repeat custom, have a discount coupon offering “£2 off your next purchase of meat, fish or Quorn”. The meat guys better be on their mettle – the Filipino Corporation Monde Nissin acquired Quorn for US$800+ million in 2015 and, clearly, see that meat substitutes have a big future around the globe. Later this year, look out for the launch in the USA of a plant protein burger from Impossible Foods that will look like, taste like and smell like the burgers we know and love.

When David Hughes was a boy, if he listened carefully outside his front door at Sunday lunchtime, he could hear a chorus from his neighbours of “eat up your vegetables or there’ll be no dessert”! Eating your vegggies, frankly, is passé – now, you’ve got to drink them! You don’t have a NutriBullet or Nutri Ninja blender? Hang your head in shame. Pure juices and smoothie retail sales went backwards in 2015, suffering from the demonization of sugar in many markets. But making smoothies with vegetables and fruit at home is seriously in vogue as consumers perceive that they can control sugar content if they produce the drinks themselves. In fact, you can have a box of smoothie ingredients delivered every week if you want to avoid shopping in the supermarket.

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Mind you, the big retailers can spot a lucrative and healthy trend, too. Asda are merchandising premium “cold pressed” vegetable juices in the Fresh Produce Department (note how the “cold pressed” label for juices leverages the health halo associated with extra virgin olive oil). Marks & Spencer have a fruit & vegetable display to encourage customers’ smoothie-making side! Best of all, Sainsbury’s stole the PR show of the week by having a “Vegetable Butcher” demonstrating in one of its stores how to use produce in a 1,000 different ways.

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“Plant Power to the People”, we say. But, it’s more than just fruit and vegetables. Protein-rich pulses (e.g. lentils, peas, beans) are having a very strong sales moment, too and, by the by, the UN declared 2016 to be The International Year of Pulses. M&S have launched a high fibre/low fat outdoor-bred pork and bortolli and cannellini bean sausage. Brace yourselves, meat people. You need to up your game or you’ll lose customers in the vegetable and pulse revolution!

 

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Posted in Consumer, Health, Uncategorized

Ensuring “Fairer Play” in Grocery Supply Chains Servicing the Major UK Supermarkets

What did you do, Daddy, in the maelstrom that has been the UK grocery market environment so far this decade?”! Who’d have thought that we would have seen big retailers scrapping for their very survival, manufacturer margins being squeezed inexorably and farmers desperate  as international food commodity prices plummet to decade year lows! When the going gets tough, the tough get going but they also get tetchy and even behave badly! Yet, we all know and research consistently shows that collaborative and longer-term relationships in the supply chain are crucial to enhancing efficiency and encouraging innovation to the benefit of us all, not least, the final consumer.

Commercial tensions are intrinsic to most supply chains but, particularly so, in those which are characterized by great uncertainty – of climate, commodity booms and busts, political vicissitudes (e.g. Russian ban on EU food imports), tectonic shifts in the grocery competitive environment, etc. Fifteen years ago, did you even conceive that the energetic Jack Ma and Alibaba would have three times the market cap of Walmart by the end of 2015? We didn’t and Alibaba is no fairy tale! Perhaps, we are in a watershed moment for the power of the “traditional” supermarkets?

In the UK and other countries, grocery supply chain partners have frequently grizzled at the disproportional market power of monolithic supermarkets. Governments have struggled to develop appropriate policies to temper abuses of power and legislative initiatives have been more focused on protecting the consumer interest than the interests of farmers and other grocery supply chain members. In the UK, however, we do have a Groceries Code Adjudicator who is the first independent adjudicator to oversee the relationships between the major supermarkets and their suppliers. Specifically, the GCA ensures that the 10 largest supermarkets treat their direct suppliers lawfully and fairly, and investigates complaints and arbitrates in disputes.

Hurrah, at last suppliers have an organization in place to ensure fair play in their dealings with the big boys. So, what are the grumpy suppliers doing? Largely keeping shtum! Whispering behind closed doors about despicable supermarket practices but failing to communicate directly and in confidence with the very organization that was established to protect their interests. Right NOW, the GCA is launching its 3rd annual survey of the groceries sector. It’s a brilliant opportunity for you to voice your concerns (or even your plaudits) about dealing with the “Big 10” supermarkets. But, in the parlance of the trade, act now to avoid disappointment! The survey closes on April 29th. If you’re dealing with UK supermarkets from home or abroad, just get on the GCA website and complete the survey. You know it makes sense!

Survey Link: http://www.yougov.com/GCA

Posted in Supply Chain

What Can We Learn from the Spanish about Eating and Selling More Fruit and Vegetables?

We Brits are wimpy consumers of fresh produce relative to our Iberian neighbours – rough and ready data suggests that Spanish families consume double the amount that we do! Why so? History, geography, climate and food culture are hugely influential:

  • Spain has been blessed with an amenable climate for growing fruit and vegetables, whereas it’s been a struggle in the UK, particularly “Up North” and for fruit. Look, sunshine helps and, no surprise, the Costa de Sol is in Andalucia not in Morecambe!;
  • supply availability moulded dietary patterns and consumption behavior – the Southern Spanish woofed down what we came to call “the Mediterranean Diet” – rich in fruit, vegetables and olive oil, whereas up in Scotland, you were more likely to see a Scottish male doing needle point than snacking on a piece of fruit!;
  • in the 19th Century, we moved into towns and cities which were, initially, serviced inadequately by fresh food distributors – packaged and tinned foods were cheaper and more convenient. The Spanish remained peasants and fresh food was just outside their front door. Our incomes improved and we were seduced by vendors of sugary and salty snacks; the poor Spaniards morosely munched on fresh-picked peaches;
  • the “made-by-mamá” main meal is at lunchtime and is only, now, coming under lifestyle pressure in Spain comprising to this day a mountain of fruit and vegetables, including a mandatory salad and, of course, all washed down by fermented grape juice. Seasonal eating isn’t trendy, it’s just what the Spaniards do!;
  • then, the supermarket era emerged at differential speed in the two countries giving us the present retail structure for fresh produce – the established supermarket chains dominate the fresh food scene in the UK (92% retail market share), whereas in Spain, regional players and “old-fashioned” green grocers (often configured in small chains) continue to have a significant share of fresh fruit and vegetable sales to consumers.
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The famous Boquería Market in Barcelona, Spain (Fotograph http://www.aspic.es)

The more traditional retail environment in Spain encourages shoppers to purchase fresh produce. Spanish supermarkets account for 70% of fresh produce retail sales but on every street, small shops fight ferociously with them for market share and can purchase a wide range of produce via vibrant (by UK standards) wholesale markets and can be competitive not least by discounting their own labour costs. You see the same in many Asian countries where the “wet markets” hold on tenaciously to market share for fresh foods, particularly fruit and vegetables.

What can we learn from the Spanish grocers? In short, they’re better at retail theatre and customer service:

  • first, there’s less pre-packaged produce. Now, we pre-pack for good reason – some shoppers want to nip in and out of the shop without the inconvenience of individual produce selection. OK, but quality retailers the world over can orchestrate a symphony with loose fruits and vegetables that demand to be purchased!;
  • second, knowledge of the product is higher in Spain for both the customer and the vendor – this provides the small grocer with a competitive edge and forces supermarkets to respond with staff who can talk with customers about quality, seasonality, new products, etc. Ours do their best but, largely, they’re there to stack shelves and keep the place tidy. In Spain, there is often an assistant who weighs and bags produce and is there, in person, to tell the story of the food, and is looking for customers who might want help with selection. In some stores, the outdoor market ambience can be created by the greengrocer shouting out special offers;
  • we’ve improved enormously in the UK on celebrating the seasonality of produce but we’re still a long way behind the Spanish. Talking to UK college students about Spring cabbage, we noted that most thought the principal attribute of the product was that it was intrinsically bouncy! There’s a push to have the first of the season ahead of competitors – a dangerous game as the result can be the triumph of hope over experience as the long awaited peach is crunchy and tasteless. Mind you, it’s one of life’s commercial conundrums that when produce is at its very best and in peak season – juicy, aromatic, etc. – we tend to give it away!

Mercadona has been Spain’s most successful supermarket grocer in recent years and has upped the ante on fresh foods. Its President, Juan Roig said “we made the mistake of thinking we could sell produce as if they were ambient goods and squeeze costs in the store. Big mistake – focusing on customer service, provenance, seasonality and better displays of loose products has worked brilliantly for us”. In the Fresh Produce Department, there are few brands, tastes vary with the season, appearances may flatter the product (looks lovely, tastes like cardboard) and, in the UK, notwithstanding the tsunami of TV cookery programmes, shopper knowledge of  the product is substantially less than in Spain. Bite the bullet, invest more in staff training and bring the excitement  of the Iberian fruit and vegetable market to Glasgow and Gillingham.

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Mercadona’s new fresh produce section (Source Mercadona)

This post first appeared in Produce Business UK as part of their Spain Sourcing Spotlight Series.

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Posted in Fresh Products, Uncategorized

Fictional Farms: Dangerous Brand Territory for High Profile Food Retailers?

It’s fashionable to be disparaging about Tesco as it struggles to regain market dominance in the UK and sheds overseas holdings like leaves in Autumn. But, it continues to be one of the most innovative grocers in the world. Notwithstanding the trade’s schadenfreude associated with its current problems, the sincerest form of flattery is imitation and Tesco initiatives have been and still are copied by retailers around the globe, not least in private label.

Tesco’s founder, “Slasher” Jack Cohen, built a grocery business piling it high and selling it cheap. But it was commercializing a three tier “Good, Better, Best” private label offer that helped propel the company to international stardom. Tesco finest* is a hugely successful premium brand in the UK. Other initiatives, like its venture brands, such as Chokablok confectionery (exclusive to Tesco and, often, competing with premium fmcg products), and tertiary brands as a defensive ploy against the hard discounters (launched in September 2008) have seen only mixed success – food doing rather better than non-food skus. Most recently, and controversially, Tesco has introduced a range of faux brands largely as substitutes for its entry level Everyday Value fresh produce and meats. Why the kerfuffle in the press? Well, the faux brand names have a distinctive and very British bucolic ring to them – Rosedene Farms, Nightingale Farms, Boswell Farms, Woodside Farms – get the picture! But the farms are fictional and the fresh products under their umbrella are from a wide range of countries, not just the UK. This sticks in the craw of British farmers, food evangelists, journalists and some consumers.

 

What is Tesco up to?: doing what comes natural to retailers worldwide – simply copying its competitors (it’s in their genes!) – in this case, the hard discounters Aldi and Lidl. These two have used fictional farm names for years for their fresh foods and received nary a hint of criticism: exclusive faux brand names such as Ashwood Farms, Birchwood Farms, Broad Oak Farms and Strathvale Farms litter their fresh produce and meat aisles around the English-speaking world (e.g. Aldi uses its Broad Oak Farms label in the USA and Australia, too).

Originally making their names from selling ambient and frozen foods at hugely attractive discount prices, these scallywag retailers turned their attention to fresh foods with considerable success. Kantar UK data shows that both Aldi and Lidl over-index on fresh fruit and vegetable sales. Aldi’s Super 6 fruit and vegetable weekly offer has been spectacularly successful. Tesco is saying to its present and lapsed customers “you don’t have to go to Aldi and Lidl for jaw-droppingly low-priced quality fruit and veg., we’ve got it here”!

 

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Aldi’s Woodfarm and Ashfield, and Lidl’s Oakland fresh products brands.

First of all, why does Tesco take stick from the press and not Aldi and Lidl? If you’re Number 1 in any market, then, it comes with the territory. You’re the nut on the coconut shy – just ask the likes of McDonalds! Secondly, was it a smart move? No – tending towards dumb! If, as Tesco does, you make a song and dance about supporting British farmers, then, you sell pork products from Holland and produce from Morocco and Senegal under a brand name reeking of Britishness, then, you get what you deserve! Tesco quite clearly mark on the packs the country of origin of the produce. But that misses the point – what harassed shoppers see on the shelves are comforting British rural images and the clearly marked “Produce of Spain” is lost in the cacophony of background shopping noise and activity!

Only 3 years ago, Tesco’s CEO was apologizing for his company’s contribution to the “Horsegate” scandal. Now, faux brands are nowhere near in the same league, but in an era where transparency and traceability for food products are top of mind, retailers must tread very carefully. A loss of integrity translates very quickly into loss of trust and fewer customers.  Asda, also hemorrhaging sales from the hard discounter fresh food onslaught, has been more circumspect and opted for “Grower’s Selection” as its label on discount produce, replacing the dull-sounding grocery entry level Smart Price. The anonymous “Grower” has proved more acceptable to the press and British farmers but the new label hasn’t translated into sky-rocketing sales for Asda.

Private label is one of the most important components in the “Differentiation Mix” that grocers can use to confer character to their offer. It’s very difficult to express your point of difference from competitors with ubiquitously available products such as Coca-Cola. Tesco has been and still is world class in private label. We know it’s extremely tough at the grocery retail coalface, but Tesco should be leading not copying when it comes to this vital area of retail competition.

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Posted in Credentials, Private Label, Uncategorized

Mind the Gap ….. in the UK Grocery Market!

You’ve got to keep on your toes in the UK grocery retail industry – sneak a weekend away in Berlin on the back of your trip to Fruit Logistica and, on your return, another hard discounter has popped out of the undergrowth to nibble the nether regions of mainline supermarkets. Tesco’s Dave Lewis must be muttering “enough already” as he lowers himself gently on to his bed of nails! This time, it’s Sir Stelios Haji-Ioannou, the easyJet entrepreneur launching a trial easyFoodstore on a God-forsaken industrial estate just off the North Circular in West London.

Has Stelios spotted a gap in the market? His frank communications team say that easyFoodstore targets food consumers who are poor, likely on benefits and have, as the economists say, a very low opportunity cost of their time. Opening just 3 weeks ago, the trial store got huge publicity from the media. The shopping experience was described as “Soviet era” – stark “easy-orange” shelving, with 76 ambient products all priced at 25p ($0.35) for the opening month of February. When we visited, there was a queue with an hour’s wait to get into the store – later, the queue snaked around the corner and wait time extended to 5 hours! The store was sold out by lunchtime and closed for re-stocking in 2 of the first 5 days of opening. There are no fmcg “A” brands, just Euroshopper and Best-in private label brands available via Cash & Carry merchants.

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Does this über-hard discount concept have longer-term commercial legs? Many in the grocery trade think that it’s a characteristically-clever PR stunt from Stelios, which will expand to maybe a dozen stores and, then, wither away. But the very low income, benefit-assisted, time rich income poor end of the market isn’t Scotch mist – it’s grown substantially through 8 years of economic hard times and we’d be astonished if easyFoodstore shops weren’t spotted very soon in the big cities of Northern England and over the border in West Scotland.

 

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Stelios Haji-Iannou wants to offer food honestly priced to British people.

The challenge in retailing is to fill in gaps in the mental maps of shoppers’ needs. Stelios believes there is a gap between food banks (free or, at least, subsidized food for households on benefits) and hard discounters. Aldi and Lidl have earned their low price credentials and, now, are expanding premium own label to attract a higher income shopper and reward  existing shoppers wanting a treat. Look, Miguel bought his haunch of jamón Ibérico from Lidl at Christmas for an attractive price of £99.99! The austere easy-orange shops may well appeal to beleaguered shoppers who view Aldi, Lidl and even Poundland as beyond their means. We wouldn’t be surprised if Stelios capitalized on this Robin Hood-esque “friend of the poor” market position and to use end production runs, safe but slightly damaged, close to use-by-date products, etc. as exclusive offers to those who can prove their on-benefit status. In an era of savvy shoppers and bashing plutocratic bankers, there is more likely to be a “Badge of Honour” than a “Badge of Shame” associated with being a family reliant on state benefits and, as a result, shoppers can enter the orange portals of easyFoodstore with their heads held high!

Market growth in grocery is exceedingly challenging and who’d have thought that the likes of Asda/Walmart would be celebrating that its current dark days of sales downturns are close to over. The company is still losing market share – that’s a reason to celebrate?! In mature grocery markets where big supermarkets have the majority share, any new company entering, however small it may be, will nibble away at their toes and ensure that grocery retail Price Wars will remain pervasive. When Stelios launched easyJet in 1995, the established airlines (not least British Airways) dismissed it as a minor irritant. Now, easyJet has a higher Market Cap. than any of them! We don’t believe easyFoodstore is going to rock the retail boat significantly, but it will contribute in some small way to the likes of Tesco’s Dave Lewis sharpening his retail price pencil through the remainder of the decade.

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Posted in Discount

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About the authors
Prof David Hughes: Around the world, David speaks to senior agribusiness and food industry managers about global food industry developments that are and will affect their businesses and industry. Energetic, engaging, humorous and insightful, David gains the very highest evaluations at seminars, conferences and Board level discussions in every continent he visits. Miguel Flavián: works for several Spanish organisations and companies to help them to learn from the developments of the British grocery market and improve their business back home.