A look at how these retailer groups changed and evolved in 2006, with an eye toward expansion and remodels
PERCENT THAT OPENED A NEW STORE
Total: 9.2%
Natural products store: 10.6%
Health food store: 4.3%
VMS store: 13.1%
AVG. SQUARE FOOTAGE OF NEW STORE
Total: 4,730
Natural products store: 9,200
Health food store: 2,350
VMS store: 2,050
AVERAGE SQUARE FOOTAGE OF REMODEL
Total: 5,800
Natural products store: 12,400
Health food store: 2,500
VMS store: 1,300
% REMODELED IN 2006
Total: 15.7%
Natural products store: 19.9%
Health food store: 12.4%
VMS store: 15.9%
AVERAGE COST OF REMODEL
Total: $68K
Natural products store: $191K
Health food store: $15K
VMS store: $6K
AVERAGE COST OF OPENING NEW STORE
Total: $194K
Natural products store: $280K
Health food store: $142K
VMS store: $90K
Stores are classified as follows: Natural products stores were defined as having less than 40% of sales from supplements (25.5% of respondents were from this group); health food stores were defined as those with more than 40% but less than 80% of sales from supplements (33.1% of respondents were from this group); vitamin/mineral/supplements stores had 80% or more of sales from supplements (33.2% of respondents were in this group). Additionally, 8.2% described themselves as “other,” including co-ops, conventional supermarket retailers and pharmacies.
NOTE: Numbers are rounded.
SOURCE: Annual Market Survey (2007), Natural Foods Merchandiser/Nutrition Business Journal