The importance of PMP and driving shopper value

Price Marked Packs (PMPs) are very important in convenience stores. They help build trust with shoppers, make store operations easier, and give stores a competitive edge. Since 58% of convenience shoppers care a lot about value, getting good deals is the top trend. Price is the second most important factor for shoppers, with 52.8% considering it, just behind brand at 59.3%. This makes sense because the largest group of convenience shoppers is 25 to 34-year-olds, who are usually more price-conscious.

Shoppers trust Price Marked Packs

Shoppers trust PMPs because they feel they aren't being overcharged, which makes them more likely to spend. 70% of retailers said that with PMPs, shoppers don't blame them for the price, and they like PMPs because they don't have to decide on prices. Also, 65% of retailers said PMPs look like promotions, and 62% said they increase sales.

As the cost of living rises, offering the right range of PMPs is important to attract price-conscious shoppers. In 2024, there was an increase in PMP purchases across all convenience store types, especially in managed convenience stores.

PMPs also help stores by making pricing decisions easier. Retailers don't have to spend time figuring out the best price for each product. This saves time and reduces mistakes. Shoppers appreciate the clear pricing and feel more confident about their purchases. This trust can lead to more frequent visits and higher sales.

Additionally, PMPs can make products stand out on the shelves. When shoppers see a price-marked pack, they often think it's a special deal or promotion. This can encourage them to buy the product, even if they weren't planning to. By using PMPs, stores can highlight certain products and boost their sales.

In summary, PMPs are a valuable tool for convenience stores. They build trust with shoppers, make operations smoother, and increase sales. As more people look for value in their purchases, PMPs will continue to play a key role in attracting and keeping customers.

Source: Lumina Intelligence Retailer Attitudes & Behaviours study June 2024 v June 2023