£1 price points are key for Scottish consumers
SOARING petrol prices and rising costs could see consumers stick to their local c-store for the foreseeable future in a bid to save cash.
Walking around the corner to a local store will be far more attractive than driving up the cost by taking the car for consumers and Tayto Group reckons this could bring ample opportunities for retailers to push sales across snacks.
Matt Smith, marketing director for Tayto Group, said: “Convenience shoppers worry that they will pay more for shopping locally and PMPs give them confidence that they are not being ripped off.
“That’s why over half the snack sales in Scottish convenience stores are PMPs.”
On top of this, IRI data found that Golden Wonder remained a favourite choice in the impulse channel – with the brand outperforming the overall channel, growing at a rate of 22.6% against the market’s growth performance that sat at 4.6%.
And, in impulse, it remains important to consider budgets across the entire snacking range as Smith noted it will emphasise that value-for-money approach in store.
He said: “Your entry price-point needs to demonstrate great value and our 35p Fun Snacks range, that includes Tangy Toms, Spicy Bikers, Awesome Oinks and Strikers, is performing strongly due to the added benefit of a two-for-60p on-pack promotion.
“With a redemption rate of 80%, this offer is great news for the consumer – and independent retailers – especially in a cost-of-living crisis.”
Choice of the Scots
TAYTO’S Golden Wonder remains a popular choice for Scottish consumers.
Norstat data revealed Golden Wonder had a 95% brand awareness with the demographic and, further to this, has been outperforming the total market in Scotland.
According to IRI data, Golden Wonder’s value rose by 13.2% in the year to June 2022, whereas the total market only saw a value increase of 6.6%
Matt Smith, marketing director for Tayto, put this popularity in the market down to the firm’s £1 price point for Golden Wonder.
He explained: “In the current climate, consumers are feeling the pinch and independent retailers need to showcase great value for money.
“Instead of raising the headline price of our £1 PMPs. we’ve decided to stick to £1. Our new range is rolling out now and shows how much we believe the format has driven the category in recent years.”
