Articles Tagged with ''shopping behavior''

A majority of trendsetting food consumers are most interested in discovering recipes that can be prepped in less than 30 minutes. And it’s not just quick and easy meals they crave. Global flavors are driving the next food trends. These are among the findings in the “Consumer Curiosity Report,” a national survey of more than 700 food-forward consumers to gauge curiosity on culinary, nutrition and sustainability topics.

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.

A staggering 48% of all households surveyed reported engaging in at least one source of tech-enabled income generation in 2022, led by content creation, peer-to-peer commerce, and rideshare driving. This trend is driven by Gen Z- and Millennial-led households, where 60% of  respondents said they derived such income in the last year.

Over the last year, cost and value for money have become more important to more than half of food and beverage consumers worldwide. Today’s shoppers are increasingly exploring money-saving strategies, such as choosing lower cost items and cooking from scratch. 

“While consumers have historically navigated to store brand products to save money during challenging economic times, we’re seeing that only modest gains have been made in private brand’s share of the consumer wallet this year,” said Mary Ellen Lynch, principal, center store solutions, IRI. 

Whole Foods Market’s Trends Council unveiled their top 10 anticipated food trends for 2023 in the retailer’s eighth-annual Trends predictions. Yaupon-infused beverages, produce packed pastas, repurposed pulp and climate-conscious callouts are among the food trends expected to rise in popularity in the next year.

In addition to the future of the economy, inflation is top of mind across the population. Nine in 10 consumers (94%) say they are currently worried about inflation, and 67% believe the majority of Americans share in these concerns, while a third (34%) believe it’s other Americans – rather than themselves – who are financially struggling right now.

In a fall from last month, 46% of shoppers are feeling uncomfortable with their finances while 64% still report looking for sales, deals or coupons. Fifty-four percent are cutting back on non-essentials and 63% are cutting back on areas besides groceries, such as clothing and entertainment. Customers are still making changes to avoid price increases.

One of the main drivers for increasing online grocery shopping is personal safety; 35% of respondents cited safety as a key reason for choosing online over brick-and-mortar stores. However, convenience still dwarfs other drivers, with almost two thirds (59%) reporting this as the reason for choosing to shop online. 

Due to Gen Z’s influence over their Gen X parents on this issue, Gen X consumers’ preference to shop sustainable brands increased by 24% and their willingness to pay more for sustainable products increased by 42% since 2019.