Our industry is changing as micro markets take a bigger share of the deployments at locations we serve. Food has become even more important to those companies operating micro-markets.
How many vending locations offer food versus only offering cold drinks and snacks? That snack lineup is usually limited to confections, salty snacks, cookies, crackers, gums, mints and, maybe, pastries.
An excellent article from Convenience Store Decisions – posted through their daily email newsletter supports my point. The article explores how convenience store foodservice is adapting “to meet the latest food trends.” One critical data point popped out in the story Grab-and-Go Continues to Grow.
Market research about pricing, from a study by Datassential, indicates that “about one-third of (convenience store shoppers) said that $5 was the right price for a sandwich, wrap or salad. Over 40 percent said they would be willing to pay more for an item they felt was fresh and good quality. Breakfast, however, is another matter. Nearly two-thirds said that $2 was the right price for a breakfast sandwich. Few were willing to pay any more.”
Read that paragraph again. How do your prices compare?
More important than your price points is your food. How does your food compare? Make that comparison against local convenience stores and other nearby foodservice establishments where your shoppers might be buying food, beverages and snacks.