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FMI’s New Initiative Aims to Drive Growth in General Merchandise, HBC
Program will provide grocers with 'insights that drive new ideas, products and solutions'. Program "will support and provide grocery retailers with knowledge and insights that drive new ideas, products and solutions," said Tom Duffy, a senior adviser to FMI.
Jeniece Drake
May 23, 2022
2 Min Read
Photograph: Shutterstock
FMI–The Food Industry Association has launched a new general merchandise and health and beauty care initiative that “will support and provide grocery retailers with knowledge and insights that drive new ideas, products and solutions to grow their business across the GM & HBC,” Tom Duffy, senior adviser to FMI on this initiative and former VP of member development for GMDC/Retail Tomorrow, said in a news release.
Sales numbers indicate several opportunities in the GM and HBC categories for food retailers and manufacturers alike. GM/HBC sales constituted an estimated 10% of all grocery sales in the most recent 52 weeks, or $49.1 billion, according to IRI data, demonstrating that these categories present an opportunity to optimize the store environment and enhance consumer satisfaction. “FMI will enhance trading partner collaboration to address challenges, opportunity gaps, and innovations designed to drive profitable growth in GM and HBC categories and to better serve consumers,” Duffy said.
FMI President and CEO Leslie Sarasin added in a release, “Total store collaboration is a core strategic pillar of FMI, and serves as a way to describe our approach to fostering partnerships among trading partners, including retailers, wholesalers, manufacturers, and brokers in the retail food industry. Our investment in general merchandise and health and beauty care is consistent with the fulfillment of this vision.”
Mark Baum, SVP of industry relations and chief collaboration officer for FMI, will oversee the new initiative, and as part of it, FMI said it will organize an advisory group, identify priority areas, explore and exchange opportunities for best demonstrated practices, and analyze the changing economics that support investments in these categories.
“Since the FMI brand represents everything in the food, beverage and consumer goods retail basket, and embraces all categories in the marketplace, FMI is poised to further its stock in what’s sold at grocery," Baum said.
