“The meal kit market is quickly evolving from nearly exclusively online and subscription-based, home delivery services to on-demand availability in-store and online. Consumers are trying out the different ways to purchase meal kits, with over a quarter of recent users purchasing kits both in-store, including restaurants, and online, finds The NPD Group. While meal kit marketers and meal kit users are experimenting to find the right fit, there is a large group of consumers, 93 million, who have never tried a meal kit but are interested in giving them a try, which points to a market opportunity, according to NPD’s What’s Next for Meal Kits report.”
Tag: food and beverage
“Compared with Generation X and older generations, millennials are at the start of their adult buying journeys,” reports Nielsen. “And as a result, this generation’s spending power is only going to increase over time. So while some of the buzz around this group’s digital savviness has faded, this group’s growing spending prowess isn’t something that marketers should lose sight of.”
The lunch “hour” may be a concept of the past, new research from staffing firm OfficeTeam suggests. More than half of workers (56%) said their typical lunch break lasts 30 minutes or less.
At the start of every new year, experts assemble their lists of what to watch for in the coming months. The food and beverage category is a particular favorite for list makers. The marketing communications company, JWT, has released its usual forecast of food and beverage trends that marketers will be promoting this year and the list contains something for everyone.
U.S. consumers haven’t been going out to quick-serve restaurants (QSRs) in big numbers for breakfast. But several leading chains have identified the breakfast category as a key opportunity for growth. To generate more business and to steal market share from competitors, ad budgets are getting pumped up.
Consumers may be feeling a little better about the economy, but they haven’t returned to the free-spending ways that marked the boom years. For wine retailers, the new economic reality has meant stocking more inventory in the $10-$20 a bottle range. Nearly 6 in 10 wine merchants report that consumers have cut back their wine budget. But creative marketing tactics can help to boost sales.
The increasingly sophisticated American palate for the 300 varieties of natural and specialty blended cheeses sold in the U.S. will pace future growth in a $14 billion retail market that is projected to be on fire by 2020, according to “Natural and Specialty Cheese: The U.S. Market and a Global Perspective,” a first-of-its-kind report by market research publisher Packaged Facts. The retail natural and specialty blended cheese market showed healthy growth from 2005 to 2009, posting a compound annual growth rate (CAGR) of 7%. Packaged Facts projects the market will approach $17 billion by 2014.
The frugal behaviors adopted during the recession are becoming ingrained and reflect a new normal regarding consumer shopping, dining, and eating preferences. What constitutes value is being redefined and consumers are making different choices than in years past that will drive their food and beverage purchases for the foreseeable future, according to “Food Flavors and Ingredients Outlook 2010,” the sixth edition in an annual series by market research publisher Packaged Facts. Retailers, manufacturers and foodservice operators are expected to continue to appeal to the lingering thriftiness, capitalizing on recession-induced developments such as the surge in popularity of food trucks, for example.
After a decade or more of marketing exclusivity and premiums brands, manufacturers are getting a new image of the U.S. consumers and it’s allabout basic brands. Stuart Elliott, in his weekly Advertising column for the New York Times, highlights how marketers are shifting their budgets to the products people are turning back to – ‘old standbys’. Even consumers who may have rarely cooked before are discovering the savings in the basic casserole.