KP Snacks is expanding its market leading PMP range with the launch of KP Flavour Kravers Flame Grilled Steak in a £1.25 PMP. Available from the beginning of August, the launch combines the range’s best-performing SKU with the hugely popular £1.25 PMP format.
Appealing on bold flavour cues, the Flavour Kravers range is performing strongly by delivering bold and innovative flavours to the Nuts segment from the UK’s number one Nut brand. Worth £95.8m and growing in value +18.1 per cent, KP Nuts holds a 25.9 per cent share of the segment, nearly five times larger than the nearest branded competitor.
The new launch expands KP Snacks’ market-leading £1.25 PMP range. Worth £108.1m, KP Snacks’ £1.25 PMP range is growing ahead of the overall market at +53.4 per cent (vs +30.5 per cent).
Worth over £331.5m, PMPs continue to be a strong and popular format in the CSN category, growing twice as fast as the overall Bagged Snacks category with 54 per cent of snack shoppers purchasing PMPs (more than any other category). The hugely versatile PMP format drives sales by offering great value for money and reassuring shoppers that they are not being overcharged, which is especially important as consumers remain increasingly cost-conscious.
“As the UK’s favourite Nut brand, KP is on a mission to excite shoppers and disrupt the segment with innovative, bold flavours delivered in the right formats to suit all consumer needs,” said Jenny Blanco Barcia, Marketing Manager at KP Snacks. “Flame Grilled Steak has been the most popular variant in our Flavour Kravers range since its launch last year. By launching Flame Grilled Steak as a £1.25 PMP, we are capitalising on both taste as the number one category driver in CSN and the growing success of PMP formats.”
Matt Collins, Trading Director at KP Snacks, said: “At KP Snacks, we are committed to offering our consumers great value for money and continuing to expand our extensive PMP portfolio is critical to this. £1.25 PMPs offer an attractive and accessible price point, with this format growing +30.5 per cent within CSN. By stocking exciting new PMPs like the new Flavour Kravers SKU, retailers can engage shoppers and drive impulse purchases.”
KP Flavour Kravers has contributed £4.2m sales in the last year. First launched in 140g Sharing bags, KP Flavour Kravers are available in three irresistible flavours: Flame Grilled Steak, Sour Cream & Chive and Smokin’ Paprika.