Price-Trak reports continued price declines in 2017
New York, NY: Today, Price-Trak, a market research company specializing in the reporting of cost and promotion allowances of packaged goods items, announced key findings for 2017. The study included data that was collected from a confidential panel of wholesalers and retailers and included nearly 40,000 items and over a half million trade promotions or deals.
In 2017 we saw continued pricing pressure across most categories, said Bob Cristofono VP Sales National Promotion Reports, publisher of The Price-Trak Report. Cost reductions, widely reported throughout the year, was evident in almost 75% of the 150 categories Price-Trak monitors. Pricing continues to be impacted by retailers lowering retail prices in response to on-line alternatives and shifts in consumer trends. As retailers look to maintain their margins there is more pressure on manufacturers to lower pricing. The list below highlights a small sample of categories with significant pricing activity in 2017.
|Prepared Foods/Shelf Stable||(-26.6%)|
Conversely, there were some categories where cost did increase during the same period:
While price declines were the major insight, Cristofono noted that there was an increase in almost 60% of the categories monitored by Price-Trak having more UPC codes in 2017 versus 2016. In the categories we monitor, we’ve observed an increase of 1,852 new items reported this years which translates to a 2.4% increase. Here are a few categories reporting significant increases in new UPC’s:
|Shelf Stable Rice||+10.2%|
|Shelf Stable Potato||+8.8%|
Monitoring competitive pricing, new product activity are key elements of success for brands. Pricing products competitively while maintaining profitability is vital for long term success. In 2017 many brands are heeding that advice by using Price-Trak as a service to stay on top of the rapidly changing competitive environment.
Interested in the results for your categories contact us for more information.
About Price-Trak, National Promotion Reports, LLC (formerly Leemis): Price-Trak provides specialized price and trade insights and monitors 150 standard warehouse categories. Price-Trak provides one-time category views or on-going weekly syndicated reports to monitor price changes and trade allowances. National Promotion Reports also supports grocery wholesalers to assist with pricing and promotional allowance understanding to help ensure grocery wholesalers have the tools necessary to remain a viable channel. For more information on this study or other inquiries, please contact firstname.lastname@example.org or 612-382-4166.