Additionally, in June 2024, we will launch a 3 key impulse item in Spanish, Portuguese and English targeting the Central and South American region impulse channels.
PM: A broader question now: would you say that the nature of partnerships with retailers has changed since COVID? For better, or worse?
JK: The pandemic gave retailers the opportunity to review their products and inventory, reassess what is selling and what they want to be known for, and reset their store shelves in preparation for the influx of travel that was to come. What we are seeing in a number of locations is a revitalised category where a number of slow-moving items that were clogging up shelf space have now been removed.
The pandemic also gave other retailers the opportunity to add something new rather than the same chocolate and sugar confectionery they have had in the past. Our relationship with partners remains strong – we know that it’s a symbiotic relationship, and one that we want to continue to invest in and nurture.
PM: So, one last question, James. If there are three things you wanted to say to the Travel Retail business community, what would they be?
JK: Be adventurous. Look outside the traditional confectionery and sugar category. There is consumer interest and demand for healthier options, and Wonderful Pistachios are impulse-driven, high dollar margin products that both consumers and retailers will enjoy.
Be patient. The overall travel industry is not where it was pre-pandemic, and so we shouldn’t expect the travel retail business to be either. Our Co-Owner and President of Wonderful Pistachios, Stewart Resnick, often says: “Sometimes you have to go slow to go fast,” and I think that is 100% relevant to our industry. Now is the time to take our time and make decisions to be successful far into the future, rather than only thinking about the present.
Be strategic. As the travel retail and snacking category continues to grow, one of the easiest ways to deliver more sales is by putting two or more like-minded brands together – cross merchandising. Most consumers buy on impulse when travelling, so displaying Wonderful Pistachios next to other better-for-you brands makes it easier for consumers to find healthy snack options all in one place. Another great strategy to increase sales with placement is integrating our Wonderful Pistachios product outside the confectionery and snacks department. Specifically, in the beer & beverage section or on end-caps with clip strips that prominently showcase the product.