Velocity Talks: A Conversation with Mitch Madoff on the Future of Foxtrot and Private Brands

Welcome to Velocity Talks, where we dive deep into the world of retail and private brands. In this episode, we have the pleasure of speaking with Mitch Madoff, an industry veteran with over 25 years of experience. Mitch has worked with iconic retailers like Whole Foods Market and is currently the Vice President of Private Label at Foxtrot. We discuss the exciting journey of Foxtrot, the future of private brands, and the unique value they bring to the retail space.

Foxtrot: Redefining Convenience

Foxtrot is a modern-day convenience store that aims to disrupt the industry with its curated product selection and focus on local and early-stage brands. Mitch describes Foxtrot as a place where customers can go on a treasure hunt, discovering unique and innovative products that they won’t find anywhere else. The stores are clean, bright, and modern, creating a welcoming environment for customers to dwell and explore.

“We really build a moat around our business. We’re fulfilling all of your needs, AM to PM, any day part. We have an answer and we have a solution.” – Mitch Madoff

Foxtrot’s private label plays a significant role in their success. They offer a range of products, from salty snacks to candy, all with eye-catching packaging and design. Mitch emphasizes the importance of quality in their private label offerings, stating that they are on par with national brands. Customers are not trading down to private label; they are trading over to a brand that offers both value and indulgence.

The Future of Foxtrot: Growth and Innovation

Looking ahead, Foxtrot has ambitious plans for growth and expansion. With over 30 stores currently, they aim to double down in their existing markets and explore new ones. While Foxtrot is primarily urban-based, they also have plans to expand into the suburbs, creating a network of stores that cater to customers’ needs throughout their day.

“We’re always introducing new things, whether we’re going out and foraging for it or developing it ourselves and bringing it to shelf. That’s a big part of what we do, and it’s part of our secret sauce.” – Mitch Madoff

Foxtrot will continue to strengthen their partnerships with established suppliers and local producers while also seeking out new collaborations. They understand the importance of constantly introducing new and exciting products to keep their customers engaged and satisfied. Additionally, Foxtrot will focus on their private label roadmap, leveraging it as a significant differentiator in the market.

The Evolution of Private Brands: Trading Over, Not Down

Mitch reflects on the changing perception of private brands over the years. Traditionally, customers would trade down to private label as a more affordable option. However, with the evolution of private brands, the quality is now on par with national brands, if not better. Customers are no longer trading down; they are trading over to private label for the value and indulgence it offers.

“I think you’re just trading over at Foxtrot, at Whole Foods. The way that private label has evolved over time, the quality is on par with national brands. You actually get the same great tasting food that you would out of a branded item.” – Mitch Madoff

Private brands have become a significant force in the retail industry, offering unique and innovative products that cater to customers’ changing preferences. Foxtrot’s private label exemplifies this trend, with their focus on quality, design, and indulgence. As customers continue to seek out new and exciting experiences, private brands will play a crucial role in meeting their needs.

The Joy of Foxtrot: Sharing Indulgent Moments

At Foxtrot, the core value is sharing the joy of food and creating a positive experience for customers. The stores are designed to be a place where customers can indulge in their favorite treats and discover new products. Whether it’s enjoying a coffee in the cafe or picking up a delicious snack, Foxtrot aims to brighten customers’ days and provide a moment of indulgence.

“We want Foxtrot to be where you want to come to share the joy of the food and that we’re having as much fun that when you come in, we just brighten your day.” – Mitch Madoff

Foxtrot’s commitment to creating a joyful and engaging experience sets them apart from traditional convenience stores. The combination of curated products, inviting store environments, and a focus on customer satisfaction makes Foxtrot a destination for those seeking a unique and indulgent shopping experience.

Conclusion: A Bright Future for Foxtrot and Private Brands

As we look to the future, the potential for Foxtrot and private brands is immense. Foxtrot’s growth plans, commitment to innovation, and focus on quality position them as a leader in the convenience store space. With their unique product selection and eye-catching packaging, they continue to redefine what it means to be a modern-day convenience store.

Retailer-owned Brands, like those offered by Foxtrot, are no longer seen as a trade-down option but as a desirable choice for customers seeking value and indulgence. The evolution of private brands has transformed the retail landscape, offering customers a wide range of high-quality products that rival national brands.

“I think you’re just trading over at Foxtrot, at Whole Foods. The way that private label has evolved over time, the quality is on par with national brands. You actually get the same great tasting food that you would out of a branded item.” – Mitch Madoff

The future of private brands is bright, with customers increasingly drawn to the unique and innovative offerings they provide. As retailers continue to invest in private label development and design, the industry will see even more exciting and indulgent products hit the shelves.

In conclusion, Foxtrot’s journey and the evolution of private brands highlight the changing landscape of retail. With their focus on quality, innovation, and customer satisfaction, Foxtrot is well-positioned for continued success. As customers seek out new and exciting experiences, private brands will play a crucial role in meeting their needs and shaping the future of retail.