Specialty Food Store Industry Forecast
According to Hoover’s Specialty Food Retailers (i.e. Trader Joe’s Competitors) See Drop in Sales - About 55 percent of specialty food retailers reported lower sales in first quarter 2009 compared to the same period in 2008, according to a recent poll by The Gourmet Retailer. The poll showed that about 40 percent of retailers are expecting second quarter sales to fall as well. Specialty retailers said the economy was taking a toll in terms of reducing the number of transactions. Some 60 percent of retailers said they would offer pricing specials on core products and add new products and merchandise in order to attract more customers.
Hoover indicates that Small companies can compete effectively by offering specialty products, providing superior service, or serving a local market.
Consumer Spending Growth on Food Evens
First Research forecasts are based on INFORUM forecasts that are licensed from the Interindustry Economic Research Fund, Inc. (IERF) in College Park, MD. INFORUM's "interindustry-macro" approach to modeling the economy captures the links between industries and the aggregate economy.
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The Inscite Research Blog
Monday, July 20, 2009
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