Outside of TV land and around the country, going local isn’t just a punch line for an evening comedy show or even a peculiarity of the weekend farmers market. It’s an increasingly popular merchandising strategy for retail chains.
“Just 1-in-4 consumers expect their financial position to improve in the coming year.” That’s the way SymphonyIRI Group saw it in its recently released report “The Downturn Shopper: Buckled in for a wild and crazy ride.”
Consumables have long been a major component of any drug store’s product mix, but where stores historically have limited their offerings to soft drinks, candy and beer, more of them now are selling fresh produce and prepared foods.
Happy days are here again! Consumer confidence rebounded 1.6 points in April from a dip in March, according to the Consumer Confidence Index, despite the fact that high-gas-price stories are dominating the airwaves.
Fred’s last year migrated its more than 300 pharmacies to a more convenient front-of-store position in an effort to boost pharmacy revenue — and it worked. Fred’s 2010 pharmacy sales growth of 4.8% outpaced the discounter’s overall sales growth of 3% for the year. At the time Fred’s began executing against the pharmacy makeover, the company reported that test stores featuring front-of-store pharmacies enjoyed 20% higher sales per square foot as compared with the company’s average.