Progressive Grocer

MAR 2017

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Page 68 of 117

March 2017 | | 67 On Promotion In the area of effective promotional activities, temporary price reductions continue to rule the waves, with seafood execu- tives giving them a 4.40 rating — a slight decline from last year's 4.90 — on a 1-to-6 scale. Otherwise, respondents have been rethinking the efficacy of their core strategies over the past year, as BOGOs have shot up to second place from fifth, and product demos/sampling events have descended a notch to the third most successful promo. Rounding out the list are mix-and-match bundles (up from No. 10 last year), flash sales (down two rungs), social media (up a notch), point-of-purchase information (down from fourth place), direct mail (holding steady at No. 8), cross-promotion within the store (down from sixth place) and online marketing (down a spot). Among other tried-and-true approaches, a number of respondents cited advertising, particularly in newspapers; in-store signage; and couponing, both digital and tradition- al, as important parts of their promotional budgets. Although it wasn't mentioned by Retail Seafood Review survey participants, communicating a product's sustain- ability would appear to be a wise move, since a 2016 survey by London-based nonprofit Marine Stewardship Council (MSC) found that 72 percent of seafood consumers agreed U.S. Wild-ca U ght Seafood 57.4% 4.4% 38.2% Val U e-added prod U ct S 54.3 12.0 33.7 Val U e-priced 53.1 5.2 41.7 f ree-from p rod U ct S (antibiotic-free, hormone-free, msg-free, additive-free, etc.) 51.6 4.4 44.0 Smaller p ortion S / p ack Size S 4444 37.5 9.4 53.1 f arm-rai S ed Seafood 26.5 19.1 54.4 i mported Wild-ca U ght Seafood 25.0 20.6 54.4 - i ncrea S ed de crea S ed Stayed the Same Source: Progressive Grocer Market Research, 2017 c on SU mer d emand In the past year, here's how retailers report that consumer demand has changed: Source: Progressive Grocer Market Research, 2017 i ncrea S e d ecrea S e Stay the Same i ncrea S ed d ecrea S ed Stayed the Same 55.8% 39.2% 3.8% 7.8% Seafood d epartment Sale S p erformance 12 months ending Nov. 30, 2016 S eafood department S ale S pro J ected for total 2017 n et change: 1.6% n et change: 3.4% 40.4% 52.9% 2017 Retail Seafood Review

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