With Easter Eggs from brands such as Mars, Nestlé, and Terry’s among those hit by shrinkflation this year, retailers are being urged to do more to ensure that prices are visible for consumers to maintain trust.
Recent research by Which? found that many popular Easter eggs have soared in price and shrunk in size this year. This follows a steep fall in global cocoa production that has driven the wholesale cost of the key chocolate ingredient to record highs
Rolf Whiteman, Sales Director at Harrison Retail, commented: “It’s that time of year when supermarket shelves are filled with colourful easter eggs, attracting the attention of people of all ages. But it is just as important that retailers make sure they have the right POS solutions to ensure that their prices are displayed correctly.
“Retailers can ensure their price communication is visible by deploying durable data strips for clear pricing display, click sign holders in the customer’s line of sight, banner arms to share promotions and ESL rails.
“Pricing should be easily visible so customers can impulsively buy the Easter eggs they desire without worrying. The first thing consumers look for when shopping is the price, and if it’s unclear, they are unlikely to go ahead with the purchase, but with effective price communication, customers can make informed purchases.”
He concluded: “This Easter, retailers must ensure that the price communication for their Easter chocolate is clear and visible to consumers. Many consumers are becoming more vigilant about the price of products amid the rise of shrinkflation. Having the right POS solutions in place, such as data strips and click sign holders, will ensure retailers get their price communication right, allowing them to be as transparent as possible when displaying the pricing of their Easter products.”
NAM Implications:
- i.e. a need to base pricing on Spirit-of-the-Law rather than Letter-of-the-Law compliance to meet (and exceed) consumer perception…
- …and not just at Easter…
- …and not just confectionery.
- Maybe time for an enterprising start-up to capitalise on the growing lack of trust on the part of shoppers…
- …by launching a simple means of comparing like-with-like pricing in the aisle?
