With millions of consumers now relying on supplemental benefits through Medicare Advantage or private insurers, the focus on Food as Medicine (FAM) becomes crucial. Retailers that integrate healthy food options and education into their offerings can attract and retain these benefit users while driving sales growth.
The challenge for grocers is making sure their product assortment, including private label, is properly attributed for benefits restricted to healthy foods and/or chronic diseases such as diabetes and hypertension. Sifter technology identifies foods that not only qualify for benefit programs, but fit complex medical conditions on an individual basis. This supports wider, more regular use by benefit recipients and enhances FAM program outcomes.
Recent FMI reports highlight that health-focused initiatives not only cater to the nutritional needs of consumers, but also create financial opportunities for retailers. It’s a $90 billion opportunity and rapidly expanding. By incorporating Food as Medicine programs now, stores can position themselves as health-centric destinations, appealing to shoppers who are increasingly health-conscious, especially those using food benefits. This approach not only supports public health, but enhances customer loyalty and drives revenue.
Sifter also supports partnerships with healthcare providers and embraces strategies like offering medically tailored groceries (MTG) or hosting in-store nutrition education. These efforts can expand your customer base and tap into new revenue streams supported by CPGs through targeted promotion.
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