Market Overview

Hubba Helps Retailers Discover Food Trends Before They Hit Mainstream Stores

Share:

The most successful retailers are not the least expensive or the
most efficient, but those with the best curated product selection and
experience.

Hubba, the leading global wholesale marketplace has already attracted
over 100,000 retail buyers and brands to its platform, CPG and food
category has become one of the most active on the platform.

Specialty food sales continue to outpace growth of all food, and
according to the Specialty Food Association sales grew 12.9%. Product
innovation and wider availability of specialty foods through mass-market
outlets is contributing to this category being especially competitive.
In fact, food sales are no longer limited to traditional grocers.

37% of buyers looking for food related products on Hubba are from
non-traditional food retailers.

In the new world of commerce, many retailers may not look like
traditional retailers at all; influencers, subscription boxes, product
review sites and anyone else who is able to exchange trust for revenue
will also win in retail. Service-led companies like yoga studios,
restaurants and general store etc. will increasingly diversify and pad
their bottom line by selling food products to their captive audience.

Wading through product after product has become a full-time job for
buyers. 70% of interviewed buyers said that they wished they could
better predict what products to carry, making it clear that, like
consumers, they aren't sure exactly whose claims to trust. Technology
like Hubba is not only helping them discover vetted products that they
can trust, but also to uncover products and trends that are coming new
to attention.

"An influx in new brands means that large and small retailers alike are
being inundated by pitches for their "next bestseller'," says Ben
Zifkin, CEO and Founder of Hubba. "Regardless of form, the trend will be
that the next generation of successful retailers will rely on the
ability to reduce the paralysis that comes with too many choices and
curate a relevant assortment of products for their consumer."

Retail buyer search queries on Hubba
provide insight into customer interests/demands, the brands gaining
popularity and the trends that are gaining traction. Consumer demand for
natural and healthy ingredients is motivating the fastest growing trends
in nutraceuticals:

  • Tumeric milk
  • Kefir drinks and ice cream bars
  • Ketogenic diet foods
  • Functional chocolate

To date, when looking for new products, 75% of the methods buyers use
involve no digital technology whatsoever, and dedicating as much as 30+
days to the product discovery process. Hubba's new independent survey of
retail buyers reveals that these numbers are shifting. Buyers that
utilize Hubba's smart technology have cut that discovery time by more
than 50%, giving many independent retailers an advantage in being able
to satisfy changing tastes of consumers like ever before.

About Hubba

Hubba is a global wholesale marketplace that powers the new retail
economy. Using a combination of machine learning and personal curation,
Hubba verifies and connects independent Brands and Retailers, making
purchasing the right wholesale products easy. Hubba will become the
driving force behind independent retail. By unifying independent
Retailers, Hubba gives them the power they need to level the playing
field. Hubba currently services 100,000 SMBs and counting.

View Comments and Join the Discussion!