With the pilot store now open in north west London, budget airline easyJet's new retail concept is a grocery store with everything priced at 25p. The easyFoodstore boasts its inexpensive stock as a means of combating poverty by making basic food supplies affordable and accessible.
Of the innovative new venture, easyJet founder Sir Stelios Haji-Ioannou said "This is another way the easy brand can serve the less well-off." The altruistic concept says it will aim to provide "no expensive brands, just food honestly priced."
In the easyFoodstore's first few days of opening, its entire stock sold out and the brand was forced to close for a full business day. The special prices at 25p are only a limited time offer, so if you are in the London area you should visit soon.
What's Driving This Trend
- Affordable Grocery Stores
- Disruptive innovation opportunity: Create grocery stores with low-priced items to make basic food supplies more accessible to low-income consumers.
- Altruistic Retail Concepts
- Disruptive innovation opportunity: Develop retail concepts with the aim of combating poverty and serving the less well-off by offering affordable and honest-priced products.
- Limited Time Offers
- Disruptive innovation opportunity: Implement limited time offers to create excitement, drive foot traffic, and boost sales for businesses.
Who This Affects Most
- Grocery Retail
- Disruptive innovation opportunity: Introduce a new business model that focuses on offering groceries at significantly lower prices to tap into the market of cost-conscious consumers.
- Altruistic Initiatives
- Disruptive innovation opportunity: Incorporate social responsibility into retail and service industries by developing initiatives that address the needs of low-income consumers.
- Marketing and Promotions
- Disruptive innovation opportunity: Develop unique and compelling limited time offers and promotions to attract customers, increase sales, and create a sense of urgency.
