SeaFood Business

JUN 2014

SeaFood Business is the global trusted authority for seafood buyers and sellers. We are the seafood industry's leading trade magazine with more than 30 years of experience. Our coverage is based on the "business" of buying and selling seafood.

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What's in Store s e a f o o d e x p o . c o m / a s i a 2 – 4 S e p t e m b e r 2 0 1 4 | W a n c h a i , H o n g K o n g Seafood Expo A SIA The Premium Seafood Marketplace for Asia Part of a Global Seafood Portfolio: Produced by: Member: Ofcial Media: S o u r c e a v a r i e t y o f p r e m i u m s e a f o o d p r o d u c t s f r o m a c r o s s t h e g l o b e N e t w o r k w i t h o t h e r p r o f e s s i o n a l s e x p l o r i n g t h e A s i a n s e a f o o d m a r k e t Ta k e p a r t i n e d u c a t i o n a l s e m i n a r s t o g a i n v a l u a b l e k n o w l e d g e Visit us online at June 2014 SeaFood Business 31 testing a 20,000-square-foot Target Express store in Min- neapolis this summer. Te urban store is being built at the base of an apartment building under construction near the University of Min- nesota campus. Contributing Editor Christine Blank lives in Lake Mary, Fla. Target really wants to ramp up the idea of a one-stop shop," says Amy Koo, senior analyst for Kantar Retail. In the past, Target has been fo- cused on selling department- store goods, including cloth- ing and household goods, as well as higher-ticket items such as furniture. However, Target needs to fgure out how to better merchandise food in PFresh and its smaller format City Target stores to better com- pete with Walmart and traditional grocery chains, according to Koo. "Target is not as adept at selling food or consumables. Tey are coming from that heritage of a department store, fo- cused on fashion and high- er-ticket items. Tey keep inventory levels low because of the way they manage the company, so it doesn't help for a replenishment- based system." Still, PFresh features a wide selection of fresh and frozen packaged seafood items, including the Archer Farms private label. And PFresh fts in perfectly with Target's eforts to expand its meal solutions in its stores, including healthy meal ideas utilizing seafood. "Target is trying to fgure out how to leverage their food more efectively," Koo says. "Tey bought Chef 's Catalog and Te idea is to be more engag- ing with guests, online and of, and ties into this idea of entertaining in general." Target appeals more to "foodie" consumers hosting dinner parties and cooking with their families for en- joyment, whereas "Walmart shoppers are more focused on just getting the price and getting the meal on the ta- ble," Koo says. Plans for Target's eight City Target stores are on hold while the retailer de- termines how to better mer- chandise in small formats. "Despite the fact that they have so much space (100,000 square feet on average), they still have a problem with fre- quency. If you are going to have your groceries all the way in the back of the store, it is not convenient, espe- cially to urban shoppers," Koo says. In an attempt to learn how to sell food better in a small format, Target is "Walmart is trying to create an ecosystem in which a shopper can get access to Walmart any way they want." — Leon Nicholas, senior VP, Kantar Retail 30_31_WIS_june sfb.indd 31 5/16/14 11:36 AM

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