Specialty Gourmet Supermarket Revenue tops $18B
CHICAGO, IL June 30, 2015 – Led by high profile retailers such as The Fresh Market and Mariano’s, Specialty Gourmet supermarkets are making headway, now representing over $18B in sales. New data from SPINS, the only information provider to deliver and report insights into the burgeoning channel, indicates that with over a thousand stores and nearly 10% growth, the channel is quickly evolving and expanding as more stores transition to a Specialty Gourmet format.
With a dual focus on both healthy and gourmet foods, these upscale, experiential stores attract variety-seeking shoppers that value unique taste profiles, in addition to the health, environmental and social benefits associated with natural foods. Natural and Specialty products account for just over half of dollar sales in Specialty Gourmet stores, but are driving nearly 70% of the channel’s absolute dollar growth.
Since the launch of its Specialty Gourmet service in 2010, SPINS has defined the channel, strengthened its relationships with industry partners, and helped hundreds of retailers leverage information to support their business. A substantial increase in retailer participation is reflected in SPINS’ latest restatement of this channel.
Through a deeper understanding of the trends and product profiles that satisfy their shoppers’ desire for the unique and interesting, Specialty Gourmet retailers are helping to drive a new wave of innovation. Many have expanded their size and product offerings to better cater to their shoppers’ preferences and even traditional grocers are opening new upscale formats. This expansion is helping reshape the retail landscape, through both the number of new store openings and the much larger size of these newer stores.
“SPINS invested in and launched the Specialty Gourmet Channel in 2010. Similar to what we have done for the Natural Channel, SPINS has built a coalition of cooperating retailers and helped these unique stores distinguish themselves within the broader marketplace. By promoting a vibrant mix of innovative, better-for-you products with a superior taste profile, specialty gourmet retailers have gained a loyal following among consumers and have delivered 10% growth in a channel that had been stagnant for many years,” says SPINS CEO Tony Olson. “Today, the Specialty Gourmet Channel represents a significant opportunity for the natural, organic and specialty brands and retailers that we represent to appeal to a growing consumer base.”
At SPINS, we believe there’s more than meets the eye to data. As the leading provider of retail consumer insights, analytics and consulting for the Natural, Organic and Specialty Products Industry, we strive to transform raw data into intelligent and actionable business solutions. Our mission is to maximize the value of information for growing the natural products industry. We carry out our mission by providing information, insight and a common language for the industry with which to understand and analyze consumer, retail and broad marketplace dynamics.