The multi-channel retailer of healthier snacks, graze.com, is reported to be outselling leading confectionary brands in shops since launching into stores one year ago.
FIve thousand plus stores, including Boots, WHSmith Travel, Sainsbury’s, Tesco and Waitrose, now stock graze snacks and graze says it has sold more than 12m to date. This stellar success over its chocolatey competitors has seen graze experience unprecedented growth in distribution, and take up into retailers nationwide.
graze’s success in retail stores can be traced to its origins as a direct to consumer online business. In this model it takes a “fail fast” approach using super-fast innovation methodology, which can launch a product in 48 hours. It has used this to build a constantly changing range of over 400 skus online. This along with receiving over 15,000 ratings back from its grazers every hour means it can choose when to bring the most relevant products to market in retail stores. This gives graze an advantage over more traditional players in the market, the company reports.
Another new innovation from the team has been the six product ‘sharing bags’ that have already boosted graze’s sales and added a further 25-50% retail sale value to Ocado, WHSmith Travel and Waitrose within a few weeks of launch. Further feedback from stores such as Boots is that graze snacks are the third largest food brand in Boots (apart from Boots own brand) and describe graze as ‘The Future of Food’.
Commenting on the success so far, CEO Anthony Fletcher, said: “There’s two reasons for our success – one is that health is major trend that is gathering pace. Secondly, technology gives us an ability to respond rapidly to these changes. By plugging that void at the tills, graze is getting one step closer to achieving our vision of becoming the number one healthier snacking brand in the UK. It is brilliant that graze snacks are now outselling leading chocolate bars in many stores.”
graze has a proven track record with revenues of £68m in its latest released accounts. This is underpinned by industry leading margins, driven by their unique ability to build a loyal and engaged consumer base. Selling in store, alongside the original subscription and online options, has opened up a further significant revenue opportunity and has allowed graze to meet the demand of both existing and new consumers who want to have multiple activation points for purchase.