Articles Tagged with ''consumer trends''

This new report leverages IRI’s -- now Circana --  latest point-of-sale data, which reveals that at-home food and beverage inflation was up 13.2% in Q4 2022 versus Q4 2021. While consumption levels are continuing to soften, at-home food spend remains strong, with center store sales up 11.1% and perimeter sales up 6.3% in Q4 2022.

While 85% of consumers say rising inflation has had an impact on the way they shop overall, there are areas in which they are not willing to compromise. Today’s brands are being pushed to be different, accessible, and to seem premium and/or customized—all while driving cost savings for their own operations.

Circana™ is as leading advisor on the complexity of consumer behavior. Through unparalleled technology, advanced analytics, cross-industry data and deep expertise, Circana provides clarity that helps clients take action and unlock business growth.

Innova Market Insights’ 2022 Snacking Survey found that more than 54% of Americans say they snack two or more times a day. Nearly one-fifth of Americans say they snack four or more times a day.

You have a great tasting food you want to commercialize. What claims can you make? One of the first things on your to-do list should be to define a few basics: Who will buy your food? What’s important to them when it comes to your food category?

Last December saw Chicago retail data tracker IRI release its “November 2022 Retail Food and Beverage Price Check” report. Published on December 8, it noted that food inflation finally moderated after August and hit its slowest rate last October, at +0.3%.

Key industry players are focusing on reducing food waste by about 50% through the adoption of several methods to extend the shelf-life of food. Top companies are paying strict regulations on food waste. FDA supports the food industry regarding food safety, packaged foods, and clean labeling. In the coming period, food manufacturers are likely to develop smart technology that may reduce the wastage of food items.

Gen Z is the most racially and ethnically diverse generation, too. According to Pew Research, Gen Z represents the leading edge of the country’s changing racial and ethnic makeup – with 52% non-Hispanic White, 25% Hispanic, 14% Black, 6% Asian and 5% a different race or two or more races. The US Census Bureau projects that by 2026, the majority of this generation will be non-White.

When it comes to eating plant-based foods, consumers are definite in which types of plant-based beverages and food they want to eat at home and which they eat from a restaurant or foodservice outlet.

The consumer products sector is entering 2023 with both optimism regarding financial performance and concern over ongoing disruption, according to Deloitte’s 2023 Consumer Products Industry Outlook.