Veganuary and Convenience Stores: Adapting to Meet Growing Demand
Veganuary has been a record-breaking success this year, attracting over 700,000 official participants from nearly every country in the world With the impact of our food choices on the planet becoming increasingly difficult to ignore, people are taking action and exploring a transition to plant-based diets. Veganuary has played a significant role in this shift, offering a non-judgmental way for businesses and individuals alike to try a vegan diet for a month and see what they think.
As veganism continues to gain popularity, convenience stores need to adapt to meet the growing demand for plant-based products. While the number of people identifying as vegan rises, there are also hundreds of thousands more who are cutting back on animal products and seeking out alternative. This is a fantastic opportunity for these stores to differentiate themselves from larger supermarkets and attract new customers. By offering a variety of vegan options, convenience stores can appeal to a wider range of customers and increase sales.
However, sourcing these products can be a challenge for convenience store owners. To compete with supermarkets, they need to find ways to source plant-based products at competitive prices. This is where Coral comes in. Coral helps store owners find the best prices for the products they need to stock from top F&B wholesale suppliers. By using Coral, convenience store owners can ensure they are offering high-quality products at prices that are competitive with supermarkets.
The background to Veganuary in the food industry
In the 10 years since its launch, Veganuary has become a significant global movement, with social media engagement reaching over 300 million people in January 2023. A YouGov survey commissioned by Veganuary found that 4% of UK respondents reported participating in Veganuary during the month, while a 2022 poll found that 9% of Brits have participated in Veganuary since its launch in 2014.
The success of Veganuary and the growing demand for plant-based products present an opportunity for convenience stores to differentiate themselves and increase sales.
Vegan products
If you are looking for some ideas for plant-based products that convenience store owners could consider stocking:
- Plant-based milk alternatives such as almond milk, soy milk, and oat milkLeading brands include Alpro, Oatly, Rude Health, Almond Breeze
- Meat alternatives like tofu, tempeh, and plant-based burgers and sausagesLook out for brands such as Beyond Meat, Quorn, Linda McCartney, The Meatless Farm Co.
- Snacks like fruit and nut bars, vegan jerky, and plant-based chips and crackersGraze, BIC, Hippeas, Tyrells, Eat Real
- Frozen meals like vegan pizzas, stir-fries, and frozen fruits and vegetablesBirds Eye’s vegan range, Amy's Kitchen, The Vegetarian Butcher, Hellmann's, Fry's Family Foods
- Vegan cheeseProducts to look out for include, Violife - Vegan Cheese Blocks and Slices, Sheese - Vegan Cheese Blocks and Spreads, and Koko Dairy Free - Vegan Cheese Blocks and Spreads
These are just some examples and convenience store owners may want to consider the specific demand and preferences of their customers when choosing which products to stock.
The Challenges Faced by Convenience Stores
The explosion of Veganuary and the insatiable hunger for plant-based products have unleashed a torrent of both challenges and opportunities for convenience stores. The challenge of sourcing vegan products at wallet-friendly prices looms large, as supermarkets now boast extensive vegan offerings that convenience stores must match. The task is daunting for stores that are at a disadvantage with smaller buying power, making it difficult to secure great deals with suppliers.
But never fear! This is also a chance to seize the day and rise above the competition. By seeking out unique, premium vegan options, convenience stores can attract customers who yearn for something different from the supermarket monotony. These consumers are passionate about supporting local businesses and crave personalized shopping experiences, making convenience stores the perfect destination for their plant-based cravings. Don't miss out on this exciting opportunity to stand out from the crowd!
Some ideas to take away:
- If a customer buys a plant-based product, ask them what categories they would like to see you stock.
- You can use Coral to compare prices on over 10,000 products, including a range of vegan, plant-based, and vegetarian products. You can join the waitlist to get early access now.
Conclusion
The explosive growth of Veganuary and the popularity of veganism has opened an opportunity for convenience stores to step up and offer plant-based products. Some stores are already tapping into that market! However, it's no secret that sourcing these items at a competitive price can be a daunting challenge, but for those who can get it right it can be a good opportunity to tap into a new market of customers.
