Proteins and 24/7 meal solutions: A key to winning value-oriented consumers' trips

Proteins and 24/7 meal solutions: A key to winning value-oriented consumers' trips

60 million U.S. households budget no more than $55 a week/$8 a day to buy food for the entire family.1 That is why it is so important for value consumers to stay true to their lists and reprioritize their spending. They do this to ensure that affordable, center-of-plate proteins and wholesome meals are available throughout the day — all week long.

Here are some ways that retailers can help value consumers stretch their dollars further in the frozen aisle:

Focus on quality, affordable protein

Value consumers — those households that make less than $60K per year, representing 50% of total U.S. households — spend more than 50% of their food budget on protein sources. Their biggest struggle is finding affordable, quality solutions in a variety of forms. Retailers can disrupt these consumers' thought-out lists and routines by featuring proteins — such as Banquet's Poultry or Family Serve Entrees. Retailers also should consider placing these budget-stretching protein solutions in regular end-cap displays, especially at the beginning of the month when these consumers are likely to be restocking their food supplies.

Offer value 24/7

On average, value shoppers buy 53 Banquet dinners per year because they provide a convenient and complete warm meal (protein, vegetable, starch) that the whole family can enjoy. Most value consumers are not avid cooks or have little time to cook
(they spend 32% more on frozen foods than the average consumer3), so Banquet's 24/7 strategy helps fulfill the need for affordable meal solutions across dayparts:

• Breakfast (#1 selling pre-cooked sausage — Brown 'N Serve);
• Lunch/dinner (#1 selling single-serve meal, and #1 share growth in the multi-
  serve economy segment);
• Desserts and snacks (#1 selling single-serve frozen pie).

Merchandise to earn more trips

Retailers should not assume that value shoppers plan to fill their carts with frozen items. Some segments, such as frozen waffles, are consistent favorites. However, shoppers have already deselected some segments, such as pricier skillet meals, and may skip a trip to the aisle if a product doesn't make their pre-determined list or meet their goal of paying $1 or less per serving/meal.

Retailers can earn value shopper trips by maintaining everyday pricing of Banquet dinners at $1. This will help build frequency of trips and higher basket rings. They also can capture more dollars by merchandising all affordable meal solutions in one retail destination, making it easy for shoppers to get what they need.

Soon retailers can leverage on-pack offers on Banquet Strips or Wyngz, which include $4 in coupons toward the purchase of other Banquet products to attract value consumers to the frozen aisle.

What's New?

Below are a few new Banquet frozen products that should add to the brand's pull this summer:

Brown 'N Serve Sausage Crumbles in Original and Hot & Spicy flavors.
The #1 form of breakfast sausage is available frozen for the first time. Pre-cooked and pre-cut means no mess or time waste-a benefit to the 40% of consumers who use sausage chubs as a dinnertime ingredient.

Whole Grain Chicken Breast Strips.
Made with white-meat chicken breast and 8 grams of whole grain per serving, these strips significantly outperform regular strips on appearance and texture.4

Boneless Wyngz in Honey BBQ and Buffalo flavors.
Wingette-shaped, white-meat chicken breast gives buyers what they want. With more meat per serving and less mess, the new product capitalizes on two trends: boneless wings are the fastest-growing form of chicken sales in the frozen aisle; the growing popularity of wings' also is confirmed in foodservice, where they have made it onto 149% more restaurant menus since 2005.5

Source: U.S. Bureau of Labor Statistics Consumer Expenditure Survey, 2008.
2 Source: Hart Research Associates National Hunger Survey, 2010.
3 Source: IRI, Total U.S., 52 weeks ending Feb. 26, 2011.
4 Source: ConAgra Foods Sensory Test, Jan. 2010.
5 Source: Menu Trends Direct, Oct. 2010.