Retailers and consumers alike can’t seem to get enough of price-marked packs, which is why manufacturers are rolling out PMPs on established products and NPD, and there are numerous benefits to be found from fixed price points.
There aren’t many areas of a convenience store that haven’t succumbed to the draw of price marked packs. Over the last few years, boldly emblazoning the price of a products on the packaging has grown into one of the biggest trends in convenience. Even staples such as bread and milk are not immune, with £1 price marks becoming ever more prominent. And where once retailers would baulk at the idea of giving up control over pricing, 50% say they intend to stock more price marked packs over the next 12 months. him! convenience research has also shown that last year almost two-thirds of retailers would be more likely to stock a new product if it was price marked. But what about shoppers themselves? Well, 53% believe that PMPs provide value for money, while one in five shoppers would buy a PMP ‘every time or most times’ they visit a store. Impulse purchases benefit too, with 30% of shoppers more likely to buy a product on impulse if it was price marked. That rises to 43% when asked if they would be more likely to buy a new product if it was price marked. These are just some of the reasons why PMPs have grown into almost every conceivable category, and why brands are launching price marked packs as quickly as retailers can embrace them.
