As the grocery landscape continues to change, IMF – The Food Industry Association adds a new initiative in general merchandise and health and beauty care (GM and HBC) to its roster. The program will establish insights, thought leadership and community engagement for the food retailer, supplier and other segment, and will be led by retail veteran Tom Duffy, who is also the former vice president of development. members at GMDC/Retail Tomorrow.
“Total in-store collaboration is a key strategic pillar of FMI and serves as a way to describe our approach to fostering partnerships among business partners, including retailers, wholesalers, manufacturers and brokers in the retail food industry. said IMF President and CEO Leslie Sarasin. “Our investment in general merchandise and health and beauty care is consistent with achieving this vision.”
The IMF has shared IRI statistics showing that GM and HBC sales accounted for about 10% of all grocery sales over the past 52-week period, or $49.1 billion in total.
“As the FMI brand represents everything in the food, beverage and consumer goods retail basket, and encompasses all market categories, FMI is set to increase its stock in what is sold at the grocery store,” said Mark Baum, chief collaboration officer and SVP of FMI. , Industry Relations, who will oversee the new initiative.
IMF plans to convene an advisory group that will identify priority areas, explore best practices, and analyze economic developments that support investments in these categories.
“As IMF’s Senior Advisor on this initiative, I will support and provide food retailers with knowledge and insights that drive new ideas, products and solutions to grow their businesses across GM and HBC,” Duffy said. “FMI, in turn, will strengthen collaboration with business partners to address challenges, opportunity gaps, and innovations designed to drive profitable growth in the GM and HBC categories and to better serve consumers.”
GMDC|Retail Tomorrow dissolved as a member-owned nonprofit at the end of 2021 following strategic reviews conducted before and during the pandemic, and a resolution approved by the Board of Directors.