Here’s a great insight worth reflecting upon with respect to your go-to-market strategy. Do you offer core products in small formats to capitalize on non-traditional placements and get your product into the hands of more consumers? If not, you should consider promoting a new point of distribution via the addition of a small format across your key accounts.
There is a lot of growth happening in the smaller format space. Consumers are taking notice and the numbers are supporting the stories from the marketplace. Our friend Danny Brager of Nielsen generously shared some insights recently with Wine & Spirits Daily that seem to support the conclusion that there is traction to be gained in increasing small format offerings.
Wine & Spirits Daily quotes Brager,
“Looking at the data, Nielsen channels show the 50 ml category for spirits represents only about 3% of dollar share, but saw sales and volumes up around 20% for the year ended March 25. Similarly, the 375ml category, which represents about 6% of spirits sales, increased both sales and volume between 7%-8%. It’s also worth noting, they were the only two packaging sizes to gain share during the period.”
Whether, as Brager surmises, the trend is driven by smaller stores/shelf sizes, easy portability favored by consumers, or simply the customers’ desire to try new products, the numbers virtually demand beverage sales people sit up and take notice. Do you have a process for making this a simple initiative for your team? In GreatVines, you can easily generate a report showing key accounts that have purchased 1.0 L, but have not purchased 375 ml of your leading products.
Then, take it one step further to make the data actionable. Use this report to easily create an Objective Plan with assignments for your team to help drive distribution gains and track increased sales of the 375 ml items. You and your team can then easily track the progress of this Objective Plan from a global view or down to a target market.