Shifting demographics and economic changes are reshaping American shopping and eating patterns, according to “The Future of Food Retailing in the U.S.,” a new report from Packaged Facts, Rockville, MD. The changing configuration of the American family has sweeping implications for food-purchasing behavior. In fact, Packaged Facts reports that two out of three consumers are cooking more meals at home and eating out less. Furthermore, they are looking for fresher, healthier and flavorful options in their shopping markets.
Some factors for success include: appealing to different ethnic tastes, upgrading amenities to enhance the shopper’s experience, and focusing on ethical consumerism by providing a better selection of “green” products. Despite growing opportunities for food marketers, the state of the U.S. economy will still play a part in consumer purchasing decisions. Concerns, such as recession and steadily increasing gas prices, have three out of four consumers consolidating their shopping trips and shopping closer to home.
“The trend toward store-made precooked meals is a good sign for food retailers, and it signals plenty of room for further market development,” says Tatjana Meerman, publisher, Packaged Facts. “Food retailers with solid marketing campaigns that can meet the needs of their customers with high-quality products, a wide selection, reasonable prices and a great shopping experience will have the advantage.”
“The Future of Food Retailing in the U.S.” analyzes market-altering shifts in retail food channels, identifying the following top-10 trends: Multi-Channel Shopping, Retailers as Restaurateurs, Lifestyle Stores and Emerging Formats, Thinking Small (in terms of store size), Store Brand Building, Focusing on Fresh and Natural/Organic, Health and Wellness, Going Green, Tapping Ethnic Markets, and In-Store Media. For each of these trends, the report provides detailed analysis and case histories, pinpointing opportunities and strategies retailers and consumer-packaged-goods marketers can use to protect and grow their businesses during 2008 and beyond.
