Food as Medicine is healthy for retail sales

by Sifter
,
Judy Seybold
,
MS, RDN, LD, CLC
June 13, 2024
June 13, 2024
According to recent Oliver Wyman research, healthy benefit programs are a growing bright spot for food retailers, representing a national market opportunity of nearly $90 billion.

The direct sales impact of Food as Medicine in grocery is soaring, and food retailers that have adapted first and best to this enormous opportunity are gaining tremendous competitive advantage.

Driving this surge is spending related to Medicare Advantage, insurance programs (HRAs, FSAs, and HSAs), and other food benefit programs. But there’s a catch. Connecting this tidal wave of spending to the store requires a new generation of technology. Sifter's Food as Medicine platform is the sole gateway between healthy-food benefit programs and matching food SKUs available at retail. Our technology makes it possible to:

• Increase benefit acceptance at point of sale
• Expand eligibility and choice to more available products
• Integrate features within existing loyalty programs
• Improve customer satisfaction and use
• Create competitive differentiation

Sifter's precise, science-based algorithms "sift" grocery foods and beverages against 1,500+ attributes, including chronic conditions such as food allergies, diabetes and high cholesterol, as well as ingredient likes and dislikes — the greatest degree of personalization available today. To date, Sifter has run dietary attribution for hundreds of thousands of grocery products available at food retailers across the U.S. We can provide this same attribution for private-label brands, making your entire store assortment eligible for food benefits redemption.

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