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ARLINGTON, Va. — FMI – The Food Industry Association is launching a new initiative aimed at boosting general merchandise & health and beauty care (GM & HBC) sales in grocery stores. Led by consumer goods and retail industry veteran Tom Duffy, FMI’s new program will aim to “establish community engagement, a portfolio of insights and thought leadership that extends its total store collaboration concept in grocery” to these important categories.
“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,” FMI president and chief executive officer Leslie Sarasin said. “Our investment in general merchandise and health and beauty care is consistent with the fulfillment of this vision.”
According to IRI, GM/HBC sales accounted for an estimated 10% of all grocery sales in the most recent 52 weeks, or $49.1 billion in total. FMI says that shows how GM and HBC categories have consistently represented an opportunity for both food retailers and manufacturers to optimize the store environment and boost consumer satisfaction.
“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,” said Mark Baum, FMI’s chief collaboration officer and senior vice president of industry relations, who will oversee the new initiative.
“As a senior advisor to FMI on this initiative, I 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,” said Duffy, who formerly served as vice president of member development at GMDC/Retail Tomorrow. “In turn, FMI will enhance trading partner collaboration to address challenges, opportunity gaps and innovations designed to drive profitable growth in GM & HBC categories and to better serve consumers.”
To lay the groundwork for this venture, FMI 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, the trade association said.
