Sales of specialty food in 2022 hit $194 billion, up 9.3% over the prior year, and are expected to reach $207 billion by year’s end, according to the Specialty Food Association’s annual industry report.
True Made Foods, a brand of condiments formulated with fruits and vegetables, was named the winner of the inaugural NIQ Founders Pitch Slam competition.
Executives of The Kroger Co. credit loyalty discounts, personalized digital coupons and a broad private label assortment for helping shoppers save money in a challenging economic environment, leading to increased customer trips and household growth in the recent quarter.
The brand expanded into grocery retail late last year and within the first five months on shelves has a repeat purchase rate of 54%, according to the company.