Foodland targets more young shoppers
Foodland Supermarket Co, a long-established supermarket chain, is adopting a new business strategy to appeal to younger generations of customers while also teaming up with property developers to open new convenience stores at housing and condominium projects.
As part of this strategy, the company has entered into agreements with companies under SC Asset Corporation to lease space and introduce two new “Grocerant” stores, a sister retail brand under the Foodland group, within two condominium projects located in Wong Wian Yai and Ratchadaphisek. The investment required for each store is 15 million baht.
The concept of Grocerant combines convenience store features with the offerings of a “Took Lae Dee” quick service restaurant, providing ready-to-eat meals under one roof. This small retail concept, covering an area of 200 square metres, is specifically targeting the new generations of customers who live in condominiums and nearby areas.
“We’ve been established for 51 years in the market and our core customers are typically within the age range of late 30s to 50s. Therefore, we intend to attract younger generation customers by collaborating with mid to high-end property developers to expand our Grocerant stores in the future,” said Atipol Teerahsongkran, the company’s vice-president.
Due to a labour shortage, particularly after the Covid-19 pandemic, the company has revised its plan by opting to open only two new Foodland supermarket stores per year, unlike its earlier plan of opening 3-5 new stores a year. Retail has become a less attractive job option for job seekers, leading to an employee turnover rate of about 1,000 people, or 40% of the total workforce annually. Therefore, this has made it challenging to train enough employees to replace those who leave.
The company plans to launch only two new Foodland supermarket stores this year, one of which opened yesterday at Park Silom project in Silom, with an investment cost of 60 million baht.
Covering 1,750 sq m, the firm’s 24th store has come up with the “Sophisticated Shopping Experience” concept, catering to the urban lifestyle of the new generation with over 13,000 quality products, both domestic and imported.
Mr Atipol emphasised that the company targets modern customers, including working professionals, parents picking up their children, and tourists, with an initial goal of attracting 1,500 visitors per day and generating monthly sales of 20 million baht. The Park Silom store includes both a supermarket and a Took Lae Dee restaurant designed in a modern luxury style to appeal to clients living in the city centre.
As customers, both existing and new generation, clearly understand and know their own needs when it comes to choosing products, Foodland provides in-depth information on various product categories, with dedicated experts available to offer knowledge and assistance.
In addition, the company plans to invest 50 million baht to open another Foodland supermarket in August at the Icon 56 community mall project on Sai Mai Road, a residential area covering 1,500 sq m.
In terms of financial expectations, the company anticipates 5% revenue growth in 2023, compared to last year’s revenue of more than 5 billion baht.
According to Mr Atipol, Foodland intends to open two more Foodland supermarkets in Bangkok next year, with a combined investment of 80 million baht, along with two Grocerant convenience stores, requiring an overall cost of 30 million baht. In addition, they plan to spend 40 million baht on renovating their existing supermarkets in Lat Phrao and Ramkhamhaeng.
From the article “Foodland targets more young shoppers”, plan a six-month integrated marketing communication campaign for Foodland or one of its competitors. Because the plan according to the article is inappropriate, you can adjust the target market and other factors freely. Then answer the following questions:
1. Do the segmentation and targeting to search for the most appropriate group of customers. Discuss the positioning of the brand that you like to communicate with customers.
2. Set up marketing objectives and communication objectives of the IMC project.
3. Plan an IMC campaign with a budget of THB 50 million by using the most suitable communication mix elements and explain what you want to do for your six-month project starting from 1 January 2024- 30 June 2024.
In the dynamic landscape of the supermarket industry, it is crucial for established brands like Foodland to evolve and capture the attention of new customer segments while retaining their core clientele. This Integrated Marketing Communication (IMC) campaign aims to rejuvenate Foodland’s brand image, engage a broader audience, and increase market share through strategic segmentation, targeted positioning, and a well-defined communication mix.
Segmentation and Targeting: Recognizing the changing consumer preferences, the campaign will focus on two key segments:
Urban Millennials: Tech-savvy, health-conscious young professionals seeking convenience and diverse food options.
Families on-the-go: Parents looking for quality products and ready-to-eat meals for their families.
Positioning: Foodland will position itself as the go-to supermarket and dining destination that seamlessly blends quality grocery shopping with the convenience of ready-to-eat meals. The brand will emphasize its commitment to quality, variety, and innovation, catering to the modern urban lifestyle.
Increase footfall and revenue by 15% in the next six months.
Enhance brand awareness and loyalty among the target segments.
Establish Foodland as a top-of-mind destination for convenient, quality grocery shopping.
Communication Objectives
Build emotional connections by showcasing the brand’s commitment to catering to modern lifestyles.
Encourage trial and repeat visits by emphasizing the convenience and value Foodland offers.
Advertising: (THB 20 million) Leverage both traditional and digital channels:
Television and radio ads highlighting the convenience of Grocerant and the wide product range.
Engaging social media campaigns showcasing quick meal recipes and customer testimonials.
Collaborate with food influencers to share their Foodland experience.
Revamp store layouts to create a modern and inviting atmosphere.
Introduce innovative digital touchpoints for personalized shopping recommendations.
Conduct cooking demos and tasting sessions in collaboration with renowned chefs.
Upgrade the Foodland app to provide personalized offers, recipes, and shopping lists.
Offer loyalty rewards for app users to encourage repeat visits.
Collaborate with fitness centers to offer exclusive discounts to health-conscious customers.
Host family-oriented events like weekend food festivals, featuring local cuisines and live entertainment.
Highlight Foodland’s efforts towards sustainability and community engagement.
Share success stories of young professionals and families who have benefited from Foodland’s offerings.
Partner with lifestyle influencers to create engaging content highlighting Foodland’s offerings.
Launch an affiliate program where customers can earn rewards for referring new customers.
Implement feedback kiosks in-store and online to gather insights for continuous improvement.
Launch a customer referral program offering discounts for referring new customers.
Track footfall, sales, and revenue growth.
Monitor social media engagement, app downloads, and usage.
Conduct surveys to gauge customer satisfaction and brand perception.
In conclusion, this six-month IMC campaign aims to reinvigorate Foodland’s brand by targeting urban millennials and busy families, enhancing the shopping experience, and strategically leveraging a diverse communication mix. By focusing on convenience, quality, and innovation, Foodland will position itself as a modern destination catering to the evolving needs of its target segments, ultimately driving growth and market share in the competitive supermarket industry.
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