The July Skuup - Market Madness
We’re back with this month’s featured Skuup, where we sit down with our data analyst, Sid Toriggino, to give you the latest industry news in the convenience space.
1. Market Metrics
Data From Skupos: A Network of 15,000 Independent Retailers
*YA - Year Ago
2. Oh Brent, Don’t Be So Crude
Consumers are finally experiencing some ease, as oil prices have finally dropped below $100/barrel over fears of an impending recession and economic slowdown. While we can hope these prices will continue to decline in the coming months, the future remains uncertain. One thing’s for sure though, fuel prices have risen 16% over the last 3 months, but in recent weeks, prices have come down from their early June highs to $4.79 a gallon.
3. Innovation at Its Finest
New product launches came back in full effect at the beginning of the year. Coca-Cola introduced two new products this past February, Starlight and Starlight Zero Sugar, which successfully achieved over 30% distribution just three weeks after their initial launch in c-stores before hitting their ceilings. While Coca-Cola Starlight hit strong in distribution, it still didn’t come close to Monster Aussie Lemonade, which grew its distribution the fastest and achieved the highest store adoption by 10 percentage points!
While distribution for Monster and Coca-Cola’s new products has since flattened out, Gatorade’s new G Fit flavors experienced steady growth well into spring, with both products achieving over 40% distribution.