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How Supermarkets Can Reduce Healthcare Costs

4/5/2015

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Currently, poor diets are the result of 14% of deaths and about $ healthcare costs in the US. Furthermore, poor eating habits result in considerable expenses not related to healthcare, including lost productivity at work.

How can this all be changed? Healthy eating needs to be relevant to consumers. Currently, many supermarkets do very little to reduce healthcare costs.

Benefits must be communicated of why someone should buy a healthier alternative. How can this be accomplished? Stores can offer samples of healthy recipes and nutritious store brand products. I'm sure many of you enjoy going to warehouse clubs such as Sam's Club or Costco, but what if they only offered healthy foods and recipes on their sample carts? This simple practice can be copied to all supermarkets. In turn, employees providing these samples can market an in-store nutritionist service if available, and hopefully engage people in the benefits of routinely eating the sample they are providing. Engaging signage nothing health benefits can also yield results. Running buy an unhealthy product and get a similar healthy product free can encourage people to try certain healthier products, but the benefits of buying the better quality free item should be clearly communicated.

Having a strong lineup store brand of natural and organic foods. Not only supermarkets have an opportunity to engage their customers in choosing healthier foods through store brands, they have the opportunity to improve their margins and customer loyalty dramatically. Trader Joe's continually grows their business by offering store brands that are superior to many national and store brands at other stores. Furthermore, their competitors usually charge far more money for the same products since many of these products are only carried as national brand products at other stores. Since store brands normally carry higher profit margins, it is not far fetched that stores can at least price natural and organic versions of certain products at or slightly below lower quality national brand equivalents.

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    Michael Krieger has expertise in business analysis and finance.

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