FMI – The Food Industry Association, Oliver Wyman and Circana rvealed insights that demonstrate new opportunities for food industry trading partners to cater to shoppers’ expanding definitions of value. The research, Finding Growth for Food & Beverage at Retail: Winning Eating Occasions throughout the Day, supports go-to-market strategies and ways in which grocers can attract more shopper relevance regarding needs, experiences, tastes, rewards, health – and especially convenience.
Mark Baum, senior vice president of industry relations and chief collaboration officer, FMI said, “The research showcases how food and beverages that promote well-being, those that are competitively priced and products that are decidedly convenient to buy and prepare, will ultimately earn shoppers’ allegiance.
“We are witnessing shifts toward foodservice spending, a rise in digitization, and return-to-office protocols that all provide food and beverage retail with opportunities to improve how they deliver on what matters most to consumers.”
For instance, the research noted that while 87% of morning eating occasions and 76% of midday eating occasions are sourced from home, there is an increasing trend toward foodservice across many consumer segments, particularly Gen Z and Gen X, reflecting growing demand for convenience.
Sally Lyons Wyatt, global EVP and chief advisor, consumer goods and foodservice insights, Circana, said, “Time is of the essence for Americans, especially when it comes to their morning routines. Sixty-five percent of morning eating occasions are prepared in less than five minutes, and we see opportunities for new appliances that give consumers quick solutions, with the microwave gaining the most ground since 2020.”
Finally, as another way to consider how the food industry can cater to newfound eating experiences among consumers, the analysis points to opportunities to explore new channels by competing for untapped potential in places primarily occupied by food distributors.
