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Industry Updates

The upcoming availability of both Neolea balsamic vinegar options at The Fresh Market in September 2024 marks the realization of a dream for us. We see this as a major victory for our brand and an exciting opportunity for customers of The Fresh Market. Let us explain how we got there!

The rise and evolution of Balsamic Vinegar

Balsamic vinegar, until 50 years ago a well-kept secret to US consumers, has steadily risen to prominence in kitchens worldwide. Its rich, complex flavor profile and its versatility have made it a favorite among chefs and home cooks alike.  

It all started in Modena, Italy, where it was made in small batches and aged for years to develop its rich flavor. What used to be a luxury item has now become widely available due to the growing number of brands offering balsamic vinegar. A significant amount on the market does not meet the high quality standards for IGP/DOP*, which is not necessarily a bad thing.

Over the past decade, more and more consumers started using Mediterranean products, including balsamic vinegar. Most recent data shows it is on the rise, as the balsamic vinegar category has grown 3.3% (SPINS 52W data, August 2024 - Total US - MULO) and expectations are that this growth pace is likely to continue.

‍The Balsamic vinegar category at The Fresh Market‍

The Fresh Market focuses on offering top-quality products and their balsamic vinegar selection is no exception. Customers at The Fresh Market are looking for more than just a basic bottle of vinegar—they want something that will elevate their cooking and add a special touch to their meals.

For this category review, we assumed The Fresh Market’s goal was to outpace the market growth with products that exceed customer expectations. And so we laid the foundation for our approach in this review.

‍Our approach‍

We have been fortunate enough to build a strong relationship with both the category manager as well as the preferred distributor, which enabled us to understand category goals and the requirements in place for being considered during the review. On top of that, we focused on:

1. The product story
2. Highlighting the growth we achieved with the Olive Oil SKU
3. Offering a strong introduction offer and promotional plan

1. The product story

As mentioned before, it is not by default a bad thing when a Balsamic isn’t IGP/DOP from Modena. Obviously, our balsamic isn’t, since we produce it in Greece, use Greek grapes and have not aged it for 12 years.

We wanted to be different, but at the same time honor the unique taste. Which is why we  highlighted the fact that our balsamic vinegars are naturally sweet and we are transparent on the label about the ingredients. Specifically, we disclose the percentage of cooked grape must while most producers are not sharing this publicly (spoiler: that is the most expensive ingredient, so usually others use a low percentage).

Furthermore, we highlighted the different flavor profiles and how to use both vinegars.

2. Highlighting the growth we achieved with the Olive Oil SKU

We have been fortunate to sell our extra virgin olive oil at The Fresh Market since 2021, which has seen $ and unit growth YoY. Unsurprisingly, we focused on how selling the olive oil and balsamic vinegar together would reinforce each other when placed on The Fresh Market shelf. Although we haven’t got the detailed feedback on this, we are confident this supported our submission.

3. Offering a strong introduction offer and promotional plan

Being a CPG brand aiming to sell in retail, it is an absolute need to offer support to a retailer to make its customers aware, interested and loyal to products. We can’t disclose the details, but among other things, we offered a certain free fill and different promotions throughout the first year. Additionally, we prepared a backlog of activities that we can add to the promotional mix if we believe they will support us and The Fresh Market in reaching our goals.

‍Looking Ahead: how will we succeed with balsamic vinegar?

As the balsamic vinegar market continues to evolve, we see exciting opportunities for our brand. Our first focus will be to support the current retailers we are working with, including The Fresh Market. The key to success is analyzing the actual sales data and adjusting our support if needed. We have a target set for the velocity (units/week/store) and will do whatever we can to get to that target.

When new to a retailer, we found it to be crucial to let people get to know the brand and drive trial. As we all know in this industry, once you taste the good stuff, you will be hooked!