Study: Tapping Into the Value of Farmers Markets

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As covered by Retail LeaderProgressive GrocerConvenience Store News, Produce Retailer, and several other industry publications, the results of a Summer 2014 survey of 250 consumers, conducted by retail design firm King Retail Solutions (“KRS”) emphasizes the broad appeal of community-run local street markets aka farmers markets.

Farmers markets hold mass consumer appeal and thrive in thousands of communities across the U.S. The farmers market concept is structurally basic, yet difficult to reproduce, in whole or in part, on a commercial scale because they are self-contained, hyper-local, and constantly evolving with their community. What can retailers learn from these markets?

KRS identified and surveyed 5 top U.S. farmers markets in distinct regions around the country: Green City Market Chicago, Ithaca Farmers’ Market, Little Italy Mercato San Diego, Pike Place Market Seattle, and SFC Farmers’ Market Austin. The 250 most recent Yelp reviews (50 for each market) were analyzed. Any pros and cons mentioned were identified and catalogued.

The study analyzes the most cited “pros” of farmers markets and the percentage of shoppers who mentioned any aspect of a farmers market they’d visited as a benefit. The study also analyzes the most cited “cons” of farmers markets and the percentage of shoppers who mentioned any aspect of a farmers market they’d visited as an irritant or deterrent to shopping there again.

An accompanying article and analysis of the survey results includes a list of ways retailers can create a “best of” street market experience within their stores.

On the survey results, KRS creative director, Christopher Studach notes, “Innovators in branding a retail experience, stores like Whole Foods and Starbucks and Target, have figured out how to turn the drudgery of a shopping trip into a sought-after experience. The next wave of innovation will come from the retailers who take that a step further, getting more local, tapping deeper into the communities they serve, and creating environments that entertain, educate, and allow shoppers to linger and enjoy their purchases.”

To download this study as a PDF, please complete this brief form.

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