Meat Snacks: 2013 Growth--5.6%; Future Potential--$250 Million
Published in CSP Daily News
Better-for-you product categories are growing at three times the rate of traditional packaged snacks, according to The Nielsen Co. And consumers are demanding real protein. Sixty-seven percent of the population said they are seeking protein daily, according to research by Nielsen and The NPD Group, and yet meat snacks have only 25% household penetration, showing a big opportunity for growth.
Convenience-store sales of jerky finally surpassed sticks in 2013, up 5.6% in the 52 weeks ending Dec. 28, according to The Nielsen Co. However, this is about one-half the growth rate of all other channels and a break from two previous years of double-digit growth. The difference in pace may be driven by competitive channels that have placed jerky at their front-end checkouts.
The trick for c-stores is to increase meat-snack purchase frequency and drive traffic into the store. A 5-point increase in this household penetration would equate to $250 million in sales.
Impulse opportunity: Consider adding single-serve jerky to draw more customers into the category. According to Nielsen, 41% of jerky units and one-quarter of sales are from single-serve packages, which have a lower price point—$3.99 vs. $6.99 for a multi-serving package—and encourage buyers of lower-priced snacks to trade up.CSP, Nielsen Co., Oberto Brands
Data presented by Stephen Oberto of Oberto Brands during CSP's 2014 Driving Impulse Sales Forum.