ImpulsePoint, an Automated Retail Management System designed for hotel pantries, collects UPC level data on 8,000 commonly sold retail products so our Hotel Retail Gurus can track it, review it, analyze it, and digest it on a geeky level. We study retail trends, monitor price margins, and compare product performance of competing products. As a company passion, we spend a ridiculous amount of time researching and understanding what hotel guests buy, what they ignore, and what they wish hotel pantries and gift shops sold - then use that data to advise brands, franchisees, and General Managers on how to improve their stores usingpurely unbiased retail data collected from Actual Sales at hotel pantries and gift shops.
Our Hotel Retail Gurus recently completed analysis of nearly 1 million hotel pantry transactions and broke it down into Best Sellers by Category to help our readers, clients, and fans tighten up their assortments in 2016. We are rolling the results out by Category, because the lists are long - and we like to keep you coming back for more!
Our 2015 findings on the Candy/Chocolate category revealed that for the first time in many years, the KING SIZE candy bar and "Tear and Share" larger portions are being outsold by their smaller counterpart as guests continue to reduce carbs and sugar in a move toward healthier options, smaller portions, and protein driven ANYTHING.
In addition to the shift in nutritional trends, we found that several of the King Size Chocolate products are difficult for most pantries to merchandise such as theKing Size Kit Kat Bar, 3 Oz whose manufacturer opted to widen horizontally instead of stacking vertically to allow consumers to break off that whole second helping of Kit Kat awesomeness. Unfortunately, this also requires taking up nearly 5 linear inches of valuable shelf space in stores where merchandising is already highly limited.
Be sure to carry at least 5-7 of the top selling chocolate products, and at least 3-5 non-chocolate candy options such as Skittles, Twizzlers, and Sour Patch Kids. Offering a wide variety of indulgent candy is not exclusive to family/resort hotels. These top sellers are as popular with business travelers as they are with sports teams and family vacation driven guest profiles.
Retail Price Recommendations:
Based on national averages, we recommend pricing regular size candy at no less than $2.00. King Size candy at no less than $2.50. Peggable bags and theater boxes should fall in the $3 to $4.00 range depending on size and Cost of Goods. Airport properties and Urban hotels in major metro areas can add .50 to $1.00 to those price recommendations.
If you need immediate assistance getting all categories right and setting up your store to succeed at a whole new level in 2016, give us a call. We’d be happy to help. We love this stuff! 888-306-3252.