Jon Dunman, vice president of petrol and convenience at Torex, the technology solutions provider, is advising convenience stores maintain stock levels of milk, despite rising prices.
“Independent and convenience retailers are already struggling to keep up with the large supermarkets and the rise in milk prices will only make this harder, particularly as they’re unable to reap the benefits of buying milk in large quantities,” he said.
“Yet, I urge them to not reduce their stock levels to cut overheads. Milk is an essential item for many customers – people often pop into their local shop for a pint when they run out and, while there, will frequently pick up other goods. The average pint of milk purchased will generate a basket of goods worth £6.59 (him! CTP 2010). If a customer comes in and the milk chiller is empty, they are likely to leave the store empty-handed, meaning the retailer will lose out on a substantial sum. It’s therefore even more important to keep on top of stock levels, using stock management and ordering functions in POS systems for example, to make sure there’s always have enough milk to satisfy customers and minimise wastage.”