Survey: Private Label Groceries Growing in Popularity
BOULDER, Colo. — More shoppers are purchasing private label (store brand) products in 2014 compared to the prior year. According to a recent study of more than 6,200 consumers by Market Force Information, 98% of shoppers purchase private label food items or cleaning products at least some of the time, on the rise from 96% in 2013.
Most shoppers are familiar with their supermarket’s private label dairy products, and most are regularly purchasing them. Seventy-eight percent of shoppers indicated that their primary grocer offers private label dairy products, 8% said they do not and 14% don’t know. Sixty percent of consumers indicated that they buy private label dairy most of the time or always, and another 35% said they sometimes purchase it.
GNC seeks CFO
GNC financial chief and EVP Michael M. Nuzzo is exiting the company to take an executive position at a private equity funded consumer products company.
Nuzzo will remain with the company at least through July 18, which will include preparation of its second quarter earnings release and 10Q, both of which are expected to be issued on the normal schedule in late July or early August.
"Since joining us in 2008, Mike has been instrumental in leading the company through a number of growth initiatives, building the foundation for its transition to a public company, and instituting a disciplined capital structure,” said chairman, president and CEO Joe Fortunato. “I would like to thank Mike for his leadership and dedication, and wish him all the best in his new endeavor.”
"Following a great run of more than five years as GNC’s CFO, I was presented with a unique career opportunity that will challenge me in new and different ways. I look forward to this new chapter in my career, and am confident the longevity and financial strength demonstrated by the GNC business model will enable it to attract another successful CFO," added Nuzzo.
The company intends to immediately commence a search for a new CFO.
Survey: Online grocery shoppers make fewer impulse buys
London, U.K. — Online grocery shoppers tend to buy fewer impulse purchases online than in store, resulting in smaller basket sizes. A recent survey of 1,154 online grocery shoppers from EDigitalResearch found that 29% of respondents feel that they make far fewer impulse purchases online than in store.
In comparison, just 7% said that they purchase more additional impulse buys online than they do in a store. Of those online grocery shoppers surveyed, just 10% said that they always stick to the same brands for particular items. Perhaps unsurprisingly, price is one of the key drivers behind brand switches. However, loyalty card promotions, search positions and product images all also have an effect on how people shop online.
"The growth of online has the ability to drastically hamper supermarkets, retailers and suppliers,” said Derek Eccleston, Commercial Director at EdigitalResearch. “With more of us becoming all the more reliant on online and digital technologies, the online grocery market is only likely to grow. These results suggest that with this online growth, supermarkets are going to see overall spend shrink. They therefore need to be working closely with suppliers to understand this new breed of grocery shopper – they need to know how they shop and why, as well as what makes them buy what they do – in an effort to encourage online shoppers to spend more."