Welcome to the newest post in our blog series, Darren’s Great Ideas! for Independent Operators.
Take Advantage of Growing Frozen Yogurt Sales
As truckstops and travel plazas undergo change, many are finding themselves with empty offices and under utilized t.v. rooms and video arcade rooms. There are a number of ways you can use that space, but have you noticed the explosion of frozen yogurt? Crafted fresh frozen yogurt shops are popping up as quickly as Starbucks once did. You see them everywhere. Some of the more popular ones are Menchies, Red Mango, Pink Berry, Yogurt Land, Orange Leaf, Sweet Frog and of course TCBY—an old standard which has been given a new breath of life thanks to the craze.
The statistics back it up. Take a gander at some of these statics from a recent research paper from Mintel. For the 2011-2013 period, frozen yogurt saw a whopping 74 percent increase in sales, growing to $486 million in 2013 from $279 million in 2011.
“The expanding array of snack options, as well as a lack of product innovation, contributed to this performance," said Beth Bloom a food and drink analyst at the consumer research firm Mintel. "In contrast, the frozen yogurt segment has benefitted from a perfect storm of factors, including the growing popularity of yogurt among U.S consumers, the growing acceptance of frozen yogurt as a snack, and a perception of a higher health profile that coincides with increased attention placed on better-for-you products.” (See article here.)
Mintel's other findings regarding ice cream and frozen novelty consumption include:
- 73 percent of consumers believe ice cream and frozen novelties can fit into a healthy lifestyle.
- Nearly half of consumers, 47 percent, agree that low-sugar/low-fat ice cream and frozen treats are as satisfying as regular varieties.
- 53 percent of consumers said they try to limit their intake of ice cream because they are afraid they will eat too much of it.
- 21 percent said they believe eating these items even once a week is excessive.
- More than half of all ice cream and frozen novelty consumers, 56 percent, enjoy their treat after a meal as a dessert.
- Younger Americans—those aged 18 to 24—are more likely to eat ice cream and frozen novelties whenever they want—57 percent compared to 44 percent of all age groups. They are also more likely to indulge in frozen treats as a snack in between meals—30 percent vs. 22 percent of all age groups.
- Consumers from single-person households are more likely than larger households to eat frozen treats whenever they want—52 percent vs. 44 percent, which is why, Mintel reports, that advertisements that depict people enjoying a frozen treat alone should resonate with a large percentage of consumers.
With this kind of potential and our industry’s unique position on the interstate as well as our proximity to local neighborhoods, we are positioned properly to take advantage of this continuing growing trend. Whether it is leasing out a space to a local entrepreneur, adding a franchise of our own or creating your own local brand by establishing a frozen yogurt program, you may want to consider jumping on the frozen yogurt bandwagon. Many of us have the space available within our operations.
I think it is time to “Berry Up” and add some crafted fresh frozen yogurt to your sales and profitability plans.
/// Read more Darren's Great Ideas for Independent Operators posts here.
Join the conversation! Have you thought about adding frozen yogurt to your offerings?
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