THIS™ launched into 412 ASDA stores this week. Having only just launched into Sainsbury’s last month and Tesco in June, ASDA is the third of the “big four” supermarkets in a five month period and according to the founders, two self-confessed meat-lovers, the expansion will help the brand to reach £7 million in revenues this year.
As we reported last week, a recent ING study revealed that the European market for vegan alternatives will reach €7.5 billion by 2025 compared to €4.4 billion in 2019. We are seeing increased product launches in this category in response to customer demand. and those in the areas of chicken, bacon and seafood alternatives appear to be steadily increasing in popularity. The report noted that the UK is the most developed market in the region.
Demand for the THIS chicken and bacon alternatives made from peas and soya beans has continued since COVID with a 40% growth in sales since October. When the pandemic first raised its head in the UK this spring, retail sales reportedly doubled in Holland & Barret, Waitrose, Ocado and Co-op stores, with the company anticipating similar growth as the pandemic continues into winter.
Andy Shovel, Co-Founder of THIS™ comments: “Launching into ASDA is a huge opportunity for us. The pandemic has definitely been a bit of a curveball but luckily people still like to eat. We’ve had to pivot our sales strategy from about 70% retail and 30% foodservice to mostly retail (85%) – fortunately, the demand for plant-based foods has really surged during the pandemic.”
ASDA will sell the brand’s popular products, THIS™ isn’t Bacon (RRP £2.95) and THIS™ isn’t Chicken Salt & Pepper pieces, (RRP £3.65).