More than half of shoppers want to see PMPs when they’re hunting for a snack
RETAILERS and customers may not always see eye to eye on price, but they seem to be in agreement on the value of price-marked packs.
Figures provided by KP Snacks have revealed that one third of shoppers believe that PMPs are cheaper than non-PMP products, while more than half (57%) want to see PMPs when they shop for crisps, nuts and snacks.
Retailers seem to see the value too, with 83% saying that PMPs sell faster than non-PMPs and 82% stating that they stock the format to “stay competitive.”
Matt Collins, trading director at KP Snacks, suggested that PMPs really come into their own when time-pressed shoppers pop into a convenience store.
“PMPs cater specifically for these shoppers who purchase on impulse and as they provide much needed value from the bigger eat they are looking for whilst offsetting any potential price perceptions.
“Stocking a range of PMPs is crucial for driving sales within convenience. Across the market, £1 PMP ranges are growing in value at +12.1% versus non-PMP formats at +7.6% respectively, which aligns with insight that tells us that 25% of shoppers specifically purchase items when they are on offer.
“PMPs are popular with retailers too, with 83% saying that PMPs sell faster than non-PMPs and 82% stocking them to stay competitive,” he said.
At KP Snacks, the firm has backed up its talk by expanding its PMP portfolio. The snack giant now offers 21 PMPs across brands including McCoy’s, Hula Hoops, Discos and Nik Naks.
Collins said: “KP Snacks is committed to helping retailers succeed within a challenging market and to do this, we have ensured that all our products make a compelling choice for shoppers at point of purchase, which includes providing a broad range of PMPs.
“Our portfolio is currently worth £59m RSV and demand for the range is growing exponentially – our £1 PMP ranges are outperforming market PMP growth at a staggering +35%.
“This success can be attributed to the strength of our brands as well as presenting them in the right format.
“The KP range has been designed to suit a number of occasions, from lunchtime singles to adult sharing. The sharing occasion in particular is a huge area within PMPs, currently worth £198m and growing 12% year on year.”