Capture the Untapped Potential of GM/HBC
By: Peter Collins, Director, Development, Industry Relations, Food Marketing Institute
I recently pondered the question: should a traditional food retailer phase out General Merchandise/Health and Beauty Care (GM/HBC) items or is there hope for this category?With our GM/HBC Committee partner, P&G, and research partners at Acosta, we looked at how retailers can invest in the untapped potential of these products.
According to The Power of GM/HBC in Grocery, 80 percent of U.S. households’ shop for HBC in grocery stores, yet 77 percent of their HBC spend happens in other channels. The same metrics for GM are 71 percent and 88 percent. Add it up and the opportunity is large: if the grocery channel were to capture its fair share of HBC sales it would represent an incremental $29 billion, while the same size of prize for GM would equal $15 billion.
Our thought-leading partners at P&G and Acosta share winning tactics retailers can take in GM/HBC to capture household shopping:
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