Single Store Owner

JAN-FEB 2016

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32 / Convenience Store News for the Single Store Owner / JANUARY/FEBRUARY 2016 ers, told Convenience Store News for the Single Store Owner. "Today, 60 percent of year-over-year growth comes from items not in distribution in the prior 12 months." Research shows new products have the ability to increase spending from current users in the category and also bring in new consumers, Hertel noted. This means increased sales and profits for c-stores that are quick to the market with new items, especially those following the latest trends. "Not all new product introductions are created equal. We looked at 55 to 60 new product intro- ductions in our research, and some brought in 60-percent new users to the category, but some were only 2 percent," he said, explaining that new trends such as better- for-you and portable snacking play a role in success as well. "It's important for single-store operators to stay educated and read what is happening in the industry through magazines like Convenience Store News," advised Cassandra Matos, product director for confection at McLane Co. Inc., a convenience distributor based in Temple, Texas. "They should follow the changes in consumer shopping behavior and flavor profiles, and compare that to who their consumer base is to determine the best new items for the stores." Trending Now While trends can differ per product category, some do carry over. Right now, better-for-you, healthier and on-the-go snacking top the list across many N ew product introductions can breathe life into sales and profits for the convenience store industry's single-store operators. Whether they are based on new trends, seasonal flavors or limited-time-only offers, new items can provide a boost to an entire product category and the store's overall bottom line. "New products are really important for growth," Jim Hertel, managing partner at Willard Bishop, a consulting firm based in Barrington, Ill., that works with consumer packaged goods (CPG) manufacturers, retailers and suppli- Prominent placement, with a focus on marketing and awareness, can lead to powerful profits BY TAmmY mAsTRoBERTE Mastering New Product Sales

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