We all know that imitation is the sincerest form of flattery. The success talked about documented and copied the most within the food industry is the success within the Ready-2-Eat and Heat-N-Eat fresh prepared food space aka the Grocerant Niche. Foodservice Solutions® has been the Grocerant Niche industry leader since 1991 and we are flattered to say the least.
Regular readers of this blog know who has been wining and who is driving the success. Today we have are going to focus on who will be driving retail food success for the next 7 years or so. In research reported by Packaged Facts helps us get a proactive view of who will continue to drive sales. Packaged Facts found three groups that will play key leading roles.
- Based on Packaged Facts’ analysis of U.S. Census data, the percentage of the U.S. population aged 65 and older will increase from 41 million in 2010 to 56 million by 2020. With this shift, those aged 65 and up will increase their share of the total population from 13 percent in 2010 to 17 percent in 2020 -- accounting for 42 percent of the total population growth over this decade.
Today this group of consumers dovetailed with our research simply is tired of cooking. While they enjoy the simplicity of Ready-2-Eat and Heat-N-Eat fresh food options and are willing to experiment with familiar food from non-traditional locations.
Here are some examples Betty Crocker Home Style Meals Delivered, Walgreens Ready-2-Eat and Heat-N-Eat fresh prepared food, and Boston Market To-Go. Brands have equity and familiarity and this group has the willingness and ability to spend.
- Packaged Facts found Latinos will continue to gain importance and influence in America’s retail landscape, according to Packaged Facts’ latest research. The Hispanic population in the United States will reach 64 million by 2020, and will be a third as large as the non-Hispanic white population (at 199 million) and larger than the African-American population (at 42 million).
Societal assimilation is the key here Latino’s are increasingly educated in the United States with a growing number within the Millennial sector in search of discovery. They have been exposed to previously establish traditional meal components, while introducing flavors of their own. Many in this group took the time to learn how to cook traditional meals, lack the skill-set to prepare authentic meals or simply lack the desire to learn how to cook which parallels most other sectors today.
- Last but not least by any means women continue leading food focus game-changing consumer buying trends. Package Facts found delayed marriage, combined with a greater propensity to pursue "three letter" degrees, will allow women in the workplace to secure more positions of authority and affluence, ushering the nation into an era of income equality among the genders.
Every food retailer Looking a Customer Ahead needs to understand that while these three groups will play a key role in defining flavor profiles, portion size, and a new price, service, value equilibrium. Retailers must evolve as fast or faster than the consumer in-order to maintain or gain market share.
Foodservice Solutions® specializes in outsourced business development leverage out Outside Eyes for inside Profits. We can help you identify, quantify and qualify additional food retail segment opportunities or a brand leveraging integration strategy Visit www.FoodserviceSolutions.us Steve@FoodserviceSolutions.us