Micro Market Sales Approach $1 Billion, Installations Continue
PALM SPRINGS, CA – July 10, 2017 – Bachtelle and Associates released today the 2016 B and A Micro Market Report, an annual census of the rapidly growing Micro Market Channel. Micro Markets, an unattended retail concept offering consumers open product shelving and automated cashless payment systems, are most often found at larger workplace locations with employee populations above 125. Micro Markets are the fastest growing segment of the larger Foodservice channel.
In 2016, Micro Markets generated $949.9 million in product sales, a 41.9% increase over prior-year numbers. 2016 installations included more than 5,000 new placements, reaching a year-end active Micro Market count of 17,806.
“The growth to date of Micro Markets has been dramatic and the projected future trend is very positive,” said Brad Bachtelle, President of Bachtelle and Associates. “New placements are continuing to accelerate, with active Micro Markets having grown in just five years from under 1,000 at the end of 2011 when the concept was still in its infancy stage to nearly 18,000.”
“The rapid growth of Micro Markets has been driven by the very positive consumer response to the basic concept,” Bachtelle continues, “which includes open shelving allowing direct product access, significantly increased product varieties within the cold drink, snack, breakfast and lunch food categories, and ease of purchase and self checkout.”
“Future growth projections for Micro Markets continue to be very strong. Now that Micro Markets have moved beyond the concept stage, both operating companies and product manufacturers are looking at how optimize Micro Market product sales and where the concept can be extended to new and different placement locations beyond traditional work environments,” Bachtelle said.
About Bachtelle and Associates
Bachtelle and Associates is a nationally recognized consulting and market research firm focused on Vending, Micro Market, Office Coffee Service and other specialty Foodservice channels. Founded in 1986, Bachtelle and Associates has extensive experience supporting product manufacturers and operating companies with channel specific marketing, program development and on-location velocity research and testing. Beginning in 2012, Bachtelle and Associates has published the BandA Micro Market Report, an annual census of the developing Micro Market Channel.