After reporting disappointing financial results for the first quarter, the Fresh Market can use all the help it can get in communicating its value proposition to shoppers.
So it may not come as a surprise that the grocery chain has selected a new advertising agency to drive growth going forward. The Fresh Market announced that its new agency, Zimmerman, will conduct strategic planning, creative services, brand activation, media planning & buying (traditional and digital), internal campaign development and social media activation for the company.
"What we immediately found in Zimmerman was an agency that could both build our brand and propel our growth," said Chris Miller, vice president of strategy and marketing at the Fresh Market. "We also found a team that shared our passion for bringing delicious food and a differentiated shopping experience to more customers, more often."
For the first quarter ended April 26, Fresh Market reported a profit of $15.2 million, or 31 cents a share, down from $16.6 million, or 34 cents a share, a year earlier. Excluding store closings and charges related to the departure of its chief executive, profit rose to 50 cents from 43 cents a year earlier. Revenue rose 7% to $462 million.
"Zimmerman will serve as a great partner as we continue to build our brand and enhance our culture around the love of food," said Sean Crane, the Fresh Market's interim CEO. "Their performance-oriented culture aligns well with ours and we look forward to a meaningful and mutually beneficial partnership, focused on sharing our truly unique concept with consumers and driving traffic to our stores."
"We've known retail in almost every sector, but the frenzy of Fresh Market shoppers was like a magnet to us when we saw this opportunity," said Michael Goldberg, CEO of Zimmerman. "Accordingly, we will work with them on a relentless quest for increasing trip frequency and new shopper acquisition and help them realize their still untapped potential."
The Fresh Market operates 170 stores in 27 states across the U.S.