On Monday PepsiCo is introducing three pricemarked sharing bags, which are 20g bigger than its current large bags, as well as two pricemarked multipacks. Walkers Doritos 200g Chilli Heatwave and Tangy Cheese, plus 170g Thai Sweet Chilli Sensations will come in £2 PMPs, while multipacks of Walkers Classic Variety and Quavers Cheese 6-packs will be available in £1.65 PMPs.
The products will also be available at reduced pricepoints during wholesaler-driven promotional periods where they will feature ‘strikethrough’ PMPs, which will see pricemarks on sharing packs slashed to £1.50 and multipacks will become £1.25.
A massive 65% of shopping trips to symbols and indies consist of take-home products (Missions: KWP, TH & AFH panels combined, value share. Pre-Covid: Jan-Feb 2020, actual share; Now – Mar-June 2020, KWP, TH & AFH panels, Trip, 52 w/e June 2020) and Pepsico predicts that larger packs will continue to dominate over singles as we transition out of lockdown.
But while convenience retailers are increasing sales of sharing products, they “still aren’t getting their fair share” of the market, according to wholesale trading controller Matt Goddard. “Almost 90% of sharing purchases (eg bigger bags of crisps, chocolates and drinks) happen outside of the convenience channel. This presents an opportunity for these stores, as retailers can capitalise on a bit of the market traditionally purchased ‘elsewhere’.
“We hope that our new range of multipack and £2 PMP sharing bags – that are exclusive to the convenience channel – will help retailers to continue to thrive as we begin the move out of lockdown, and when people will see less restrictions on socialising responsibly.
“In regards to multipacks specifically, we have seen them perform extremely well – growing by +15.6% [Nielsen Indies & Symbols data 2020 WE 26.12.2020]. Therefore, we felt it was important that we launched a multipack PMP format that helps retailers to signify the great value to their shoppers. We’ve also ensured these new offerings are available in an accessible case size for retailers – recently made smaller to make it easier for smaller stores to use.”
The firm recommends displaying PMPs together on shelf, or within a separate fixture specifically for these types of value products. It advises retailers to utilise social media assets to promote the products online.
The PMP launch follows on from PepsiCo’s annoucement earlier this week that it will be adding 20% extra to its Walkers £1 PMP snacks.