Rachel Krupa, founder of The Goods Mart and Krupa Consulting, is a scrupulous curator of products for her three-unit retail chain, constantly on the lookout for emerging better-for-you and socially conscious snack foods that have the potential to gain widespread distribution.
She plans to discuss her process for product selection, and how she helps nurture those brands, during a session called "How I Buy" at the Summer Fancy Food Show. The presentation, part of a new series of called Pavilion Pop Ups on the Fancy Food Show floor, begins at 12 noon on Monday, June 26, in Sips Bay (Level 1, Booth 5524) in the Beverage Pavilion.
Krupa recently spoke with SFA News Daily about her stores, her plans for the presentation, and trends in better-for-you and socially conscious products.
What’s the latest update on your store locations at The Goods Mart?
We now we have three locations, all in New York. We have our SoHo [downtown Manhattan] location, which will be open five years in October, And then our 30 Rock [30 Rockefeller Plaza] location, which we opened up at the end of 2021, and we have our new location, which is 11 West 42nd Street, and that opened October of ’22. The way that we look at it is we’re a different type of retailer, but we’re a retailer that is actually helping brands grow and providing them with assistance and resources in order to have more reach to more humans.
What are you planning to focus on for this How I Buy session?
I love the conversation about how can a retailer be really helpful, and help a brand grow and achieve, and not be scared to ask questions. At least on our side, we want to be able to answer questions or help brands think about them, so that when they get to a Whole Foods or they get to a larger retailer, they have a little bit of their feet in the industry, and they are going to be able to succeed. That’s how we look at ourselves—as really being a stepping stone for brands.
What do you look for in a product for your stores?
From a base level, everything is non-GMO, with no artificial flavors, no preservatives. On top of that, we really look at how does it taste, and what does the packaging look like? For us it’s really about A, how does it gravitate off the shelf, and then once you get it off the shelf, and you rip that bag open or you rip that box open, you want it to taste incredible.
What are some of the most common challenges facing the emerging snack brands that you bring in?
Because we work with such young brands, it is figuring out distribution, figuring out the right margins, making sure that their supply chain is tightened up and put together, and making sure that everything with their co-manufacturer is running smoothly. A lot of the questions are about margins, and with the volatility of some ingredients right now, with things running out of stock and prices increasing, that affects the price of the product.
What are the current trends you are seeing around better-for-you and socially conscious positioning?
I think a lot of people are still leaning into “better for the environment.” Everyone is looking at how their product impacts our Mother Earth, with regard to where the ingredients coming from. Are they upcycled? Are they regenerative? Are they X, Y and Z? Also, a lot of people are trying to find better packaging, but the packaging technology doesn’t exist to scale in order to bring the price down enough for consumers. There also needs to be a lot more innovation.
A lot more brands are also giving back to not only to 1 Percent for the Planet, but people are giving 5 percent to leukemia or lymphoma nonprofits, or people are giving 2 percent to a mental health organization. People are doing a lot more things so that their brand is more impactful, the more sales that they have, which I think is very smart.
How do you shop at the Fancy Food Show?
I’m fast and furious. I’m a fast walker, so I go very quickly. I really love looking at booths, and I want something to draw me in. It doesn’t always have to be packaging—maybe it’s also a key ingredient or something that is innovative that I don’t necessarily have. So when I search the Fancy Food Show, I often search for things I haven’t seen. For me it's like, ooh, what is that? What is that interesting ingredient? Or what is this new flavor that we don’t have that we feel is going to be a trend?
I also walk the show to say “hi” to a lot of the brands that we sell at our store. It is an incredible time to chat with them, catch up and also see what they’re doing that we haven’t heard of yet.
Related: The Goods Mart Opens Third Location; The Goods Mart Prioritizes Supplier Diversity.