Once
again the retail food marketplace is resetting driven simultaneously by
advances in technology and demographics. Regular readers of this blog know that
50% of U.S adults over the age of 18 are single according to the U.S. Census
Bureau. In addition they know that ‘foodprint malaise’ has plagued legacy grocery stores,
chain restaurants.
At
the intersection of saving consumers time and money are a flood of new avenues
of fresh food distribution specifically technology start-ups They threaten the lifeblood of many
existing legacy grocery store chains and restaurant chains. It’s at that
intersection operational efficiencies have merged with demographic changes to
satisfy the undercurrents of a new and developing consumer need-set.
Consumption
behaviors are driven not only by the 50% of adults over 18 and single but by
the fact that 27% of U.S household now consist of just one person according
to the U.S. Census Bureau, that is an
all-time high. That is up from only 10%
in 1970.
The
NPD Group reports that now “over 50 percent of eating and beverage occasions
happen when consumers are alone” NPD found that by day-part 60% of the time
breakfast was eaten alone and 55% of the time lunch was consumed alone. These
consumers don’t want to sit at a four-top, a two-top nor do they wait for a
waiter. They want Ready-2-Eat and
Heat-N-Eat fresh prepared food fast. That is just one attribute driving the growth and success within the C-store sector.
Every
retail food sectors have noticed a discontinuity in consumer food shopping
behavior and all are fighting for share of stomach. Contributing
to this displacement today is technology and demographics. Where once the
family dinner was the bastion of American; today fully 32% of dinner occasions
are eaten alone.
The
price, value, service equilibrium is resetting in Grocery stores, Restaurants
and Convenience stores. Consumer migration will continue as consumers are
attracted by the fresh prepared meal components with new portion size, and
price points. Which provide a strong margin for increased profitability
for the any retailer willing to adapt? Meal components are the number one
driver of fresh food customer migration.
Are
you trapped doing what you have always done and doing the same way. Interested
in learning how Foodservice Solutions 5P’s of Food Marketing can edify your
retail food brand while creating a platform for consumer convenient
meal participation, differentiation and individualization?
Email us at: Steve@FoodserviceSolutions.us or visit: www.FoodserviceSolutions.us
for more information.
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