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
• Breakfast (#1 selling pre-cooked sausage — Brown 'N Serve);
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.
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