Maxxium UK, one of the country’s most dynamic and innovative spirits companies, is extending its range of price marked packs to drive sales in the convenience channel.
From this month 70cl and 35cl bottles of The Famous Grouse and Jim Beam White and from August 70cl bottles of Teacher’s will be available price-marked (prices below), extending the existing range which includes 70cl and 35cl bottles of Sourz.
The move is based on independent research which shows that 86% of shoppers trust a price-marked item over the price on-shelf and that 70% view PMPs as a promotion.
Maxxium’s Business Sector Controller for Impulse Retail and Off Trade Wholesale, Ali Brown says: “Shoppers are scrutinising price more closely than ever and therefore it has become increasingly important to offer fair pricing and perceived value for money. Beer, wines and spirits is the third biggest sector by value in convenience, accounting for 12% of sales and by extending price marking to these leading spirits brands we enable retailers to communicate prices clearly, instil confidence and most importantly grow this highly profitable category.”
Maxxium UK also recommends that by focusing on BWS and stocking the right range in fractional as well as standard sized bottles, retailers can expect to bolster sales and increase basket size.
Brown adds: “Within the convenience channel 80% of the market value is driven by just 29 brands so retailers should stock a concise range of price-marked BWS that offers consumers enough choice between one or two leading brands and one own-label or budget option. The Famous Grouse, Jim Beam and Sourz are leading brands within their categories and our new PMPs give consumers confidence and drive rate of sale.”
PMP sales across all categories have grown by +75% in the last year, 97% of which are in the impulse channel. In spirits they now account for £40.3m of sales, making them an essential tool for retailers.
The new PMPs are: Jim Beam 35cl (£9.99), Jim Beam 70cl (£16.99), The Famous Grouse 35cl (£8.99), The Famous Grouse 70cl (£14.99), Sourz 35cl (£5.99), Sourz 70cl (£9.99), and Teacher’s 70cl (£13.99).