Pennsylvania-based The Hershey Company is showcasing its leadership in retail and consumer insights by focusing on the value of space for both retailers and consumers during the National Confectioners Association’s 2022 Sweets & Snacks Expo from May 24-26 in Chicago.
Hershey recently participated in a study where it explored the needs of retailers. Key insights from this survey will be revealed during the expo.
The Hershey Co. gathered insights from retailers regarding the importance of redesigning and discovering new spaces in retail following the COVID-19 pandemic. Many of the 160 retailers participating in the study say they are planning to update their front-end store space to provide a more convenient and efficient shopping experience for consumers, including continued growth opportunities like paypoints and cashier-less checkouts.
According to the survey, which will be released in June, 61.6 percent of the surveyed retailers plan to renovate or update their store space in the next one to five years – the most popular update being the addition of new paypoints in their locations.
“In our survey, we found that 37.8 percent of retailers plan to increase the number of paypoints in their stores within the next year,” said Gina Peterson, senior manager of retail experience for The Hershey Co. “This is critical for many retailers in order to meet new expectations from consumers and continue to help drive bigger baskets. We can expect the trend toward more self-checkout and cashier-less paypoints to continue.”
The majority of retailers surveyed also shared that online shopping will make up more of their sales moving forward. While 15.9 percent of surveyed retailers predict more than half of their sales will derive from e-commerce in 2022, that percentage jumps to 26.8 percent of retailers who expect e-commerce to yield more than half of their total sales by 2027. However, unplanned and “treat myself moments” in stores continue to remain the driving forces for consumers.
“The trend of digital commerce sales continues to accelerate, but we know that consumers are mostly purchasing their products in stores,” said Peterson. “Unplanned buys and occasions are still important for consumers, which is why we are dedicated to helping our retail partners grow in new and innovative ways in their locations.”
Hershey believes that consumer satisfaction is key to driving innovation, as evidenced by the April 2022 launch of the Reese’s Pantry Pack. The portable, organizable, compact package stocked with 25 individually wrapped snack-size Reese’s Peanut Butter Cups helps to create a more convenient and efficient way for consumers to stock up on products, thus helping retailers adapt to consumers’ needs.
This new packaging solves key consumer needs based on evolving habits. According to findings from Hershey, 31 percent of consumers are eating at home more, 40 percent want a well-stocked pantry and 43 percent believe it’s more affordable to stock up. In addition to helping consumers have efficient pantry space, Reese’s Pantry Pack is also beneficial to retailers, as 57 percent of surveyed retailers plan to deploy more occasion-based merchandising in stores over the next six to 12 months than they did in 2021.
“We listened to our consumers’ wish lists, and what we found was the need for more of our products at once, but in a compact and organized way,” said Nathan Forney, senior manager of packtypes strategy for The Hershey Co. “We’re helping change the way people think of their pantry space with this new product, and we expect this uptick in pantry loading to continue.”
To read Hershey’s article about the Reese’s Pantry Pack presented by The Shelby Report, click here.
Hershey Sights at Sweets & Snacks
For the first time in The Hershey Co.’s trade show history, its exhibit expands two floors. The 50-by-100-foot booth covers 6,120 square feet and features stylistic elements of Hershey’s broad portfolio of confectionery and snack brands. The main floor includes a Hershey foodservice kitchen, photo opportunity backdrop, several sampling stations and category management room.
While Hershey’s trade show booths include two private meeting rooms, this new design has three meeting rooms with two on the upper deck. The second floor measures 28 x 40 feet.
For more information about The Hershey Co. and its commitment to helping its retail partners gain customer satisfaction through reimagining spaces, visit thehersheycompany.com or stop by booth No. 10704 at NCA’s Sweets & Snacks Expo.
