Tayto’s goal to deal with shrinkflation
TAYTO is set to keep the sharing occasion a popular one for end-of-year celebrations with a new addition to its line-up.
Aiming to capitalise on the added occasions brought on by the FIFA World Cup being in winter this time around, Tayto has launched Golden Wonder Barbecue Strikers in a 120g sharing bag in a bid to bring back the “proper sharing” pack format.
The new Barbecue Strikers format comes in a football themed £1.50 price-marked pack that the snacks firm reckons will prove to be a popular addition to shelves in time for the World Cup, as more consumers look to enjoy the tournament with their friends and family.
Golden Wonder Barbecue Strikers are also available in a smaller 35p/two for 60p PMP format as well as an eight-bag multipack.
Tayto said the new sharing pack size comes in response to anticipated shrinkflation – when product packaging reduces in size but retains the same price – impacting on pack sizes across the sharing format as more producers feel the pressure to reduce the size of their packs in order to cope with rising costs felt across the entire industry.
Matt Smith, marketing director at Tayto Group, said: “As shrinkflation inevitably takes hold, Golden Wonder is bringing back the proper sharing pack with the launch of its new 120g BBQ Strikers in time for the Football World Cup.
“Having kicked off in mid-October with big-league margins and goal-scoring RRP, this footie-themed £1.50 price-marked pack promises plenty of full-flavoured product for everyone to share – and top-flight sales for retailers to boot.”
Tayto also recently reached out to independent retailers to decide on whether to raise the price of its sharing PMP line from £1 to £1.25, or to reduce the size of packaging.
Tayto said retailers chose to stick to the £1 PMP as the firm remains committed to its “more punch per crunch” promise and continues to bring a better value to consumers.
And it’s this value that more customers are seeking. As Smith pointed out, a survey conducted by the Tayto Group found that 95% of consumers were concerned about the cost and availability of groceries.
Moreover, 40% of this number were very or extremely concerned. Smith reckons Golden Wonder’s £1 PMP Sharing format will continue to be a vital addition on c-store retailers’ shelves going forward as prices continue to mount up for many consumers, pushing them to seek value across all aspects of their shop.
“Sales of sharing snacks continue to power ahead – making big-bag formats a must-stock for independent retailers – especially in the run-up to the festive season.
“The £1 PMP snacks are growing three times faster than the total market as we continue to increasingly socialise at home instead of going out.
“It also shows just how important PMPs are in independent retailers’ battle to showcase value in the face of the cost-of-living crisis.
“The £1 PMPs have been a roaring success and Golden Wonder is committed to offering great value at this must-stock price point,” he said.
