What consumer trends will shape food retailing in 2014?
Through a special arrangement, presented here for discussion is a summary of a current article from the monthly e-zine, CPGmatters.
Millennials, health-conscious shoppers and a shift in consumer palates set the stage for what’s to come in the food world this year, according to 2014 predictions from Phil Lempert, the well-known Supermarket Guru.
Mr. Lempert sees the following 10 trends in the grocery space gaining attention from consumers in 2014:
1. The Emergence of the IndieWoman: Almost 31 million strong, these women are 27 and older, live alone and have no children. Time is of the essence for the IndieWoman, so look for more brands to cater to this powerful consumer who wants to cook, but might not have the time for a homemade meal every night.
2. Better-for-You Snacking: Look for supermarkets to replace traditional higher-sugar, higher-fat snacks at the checkout with better-for-you on-the-go offerings.
3. Brands Reach Consumers Locally Through Cause Initiatives: A survey recently conducted by ConAgra Foods found that 62 percent of consumers appreciate and want to support companies that donate to important social causes. Look for food brands to increasingly focus on community outreach.
4. Click to Cook: For the sake of convenience and saving time, people will begin to rely more on their mobile phones when grocery shopping. In a recent online ConAgra Foods survey, one third of consumers reported using their mobile phone while at the grocery store, most often to refer to shopping lists and recipes.
5. Supermarkets — The New Culinary Schools: Grocery stores are beginning to offer services such as "community cooking centers" where shoppers collaborate and learn from each other. These social environments are the perfect place for the aging Millennial population as they are a group that likes to cook, but doesn’t necessarily have the skills to make elaborate meals at home.
6. The Retailer Becomes the Brand: Consumers have become increasingly loyal to their preferred retailer and its products. No longer will private brands just emulate national brand products, but consumers will see more private brands creating new products of their own.
7. Rise and Shine — The New Way to Start Your Day: To live a healthy lifestyle without compromising taste and indulgence, consumers are looking more at foods like eggs, meats, and Greek yogurt, as well as whole grain products, for their breakfast, Mintel reports.
8. Packaging Evolves to Share More with Consumers: Beyond learning more about an ingredient or health claim, using an app on a mobile device might be used to tell where the ingredients come from, who prepared the food, the company’s history and even offer other customer reviews and ratings.
9. Millennials Make the Supermarket Social: The next evolution will be "click to buy" for consumers looking to purchase ingredients for a recipe on Pinterest or other social media platforms.
10. International Restaurant Flavors at Home: The surge of Latino and Asian populations, along with growing consumer interest in adding more flavor and variety to mealtime, will fuel this trend.
What do you see as some of the stronger grocery trends gaining momentum in 2014? Which of the predictions mentioned in the article do you see as most challenging for food retailers to capitalize on?