The U.S. Food Consumer: Presentation for ProMexico on today's trends
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Insight gathered by The Food Institute Summer Fancy Food Show July 2014 MEET THE U.S. FOOD CONSUMER, AND OTHER TRENDS
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An economic look at food spending across the U.S.A. this presentation by The Food Institute details real-dollar expenditures at restaurants and various grocery stores. Discover where consumers are finding food products and how they decide to purchase these goods in today's economy.
Transcript of The U.S. Food Consumer: Presentation for ProMexico on today's trends
Insight gathered by The Food Institute
Summer Fancy Food ShowJuly 2014
MEET THE U.S. FOOD CONSUMER,
AND OTHER TRENDS
Consumers starting to put money where their mouth is!
Average food spending back to 2007-levels (almost out of recession-levels)
Consumer Food Spending up 3% to $49,705/year/household.Biggest portion for inside-the-home eatingDollars away-from home continue decline but not as steep.
All-time high was in 2008, $50,000 annually on food.
HOW MUCH DO WE SPEND ON FOOD?
Only 14% U.S. Americans stick to 3-square meals, no snacks
Role for meal replacements, hefty snacks to fi ll in for meals
Grab-and-Go convenience is crucial factor in purchasing foods.
SNACKING IN AMERICA
Daily Eating Habits
3 sq. meals, Many Snacks4-5 "mini meals"3 sq. meals, No SnacksI eat on the run, when I can
CONSUMERS WANT COUPONS
• Consumers increasingly go online for digital coupons• The hunt for coupons spans all age demographics• Divide on age between paper coupons vs. e-coupons.
Symphony IRI data
THE LOOK OF THE GROCERY STORE
~fast, fresh and affordable~
THE LOOK OF THE GROCERY STORE
Fresh-Format: emphasis on perishables and diff erent center-store assortments from the traditional grocery store. Ethnic, Organic focus eg: Whole Foods. Category: ~$12 Bn ann. sales
Traditional Supermarket : full line of food items/groceries incl. meat/produce. May include deli and bakery service ~$442 Bn
Warehouse: high-volume hybrid of superstore and warehouse with service departments, perishables and reduced prices eg. Costco. Category:~$20 Bn
Limited-assortment : store: low-price grocery with limited selection of center-store & perishables eg. Trader Joe’s Sav-A-Lot category sales: ~$29 Bn
Small grocery : corner store or bodega, limited selection of staple items and grab/go convenience. Category:~$12 Bn
Restaurant sales: PATRONS RETURN! $181.1 billion as of April 2014 (up 3% from prev.
year)Full service restaurant sales saw highest growth – 6%
since last year.Limited service: up 1.4% to $20,513 in April 2014.
(Source: The Food Institute Report, May 19, 2014)
RESTAURANT ROUNDUP
FOODSERVICE: MENU TRENDS
Menu-item “Winners”:• Bakery item• Specialty
drink/coffee• Asian• MexicanMenu-item “Losers”:• Steak• Desserts
Increase by sales
Email is still top with food product marketing to U.S. consumers
The Coca-Cola Company lays out how it engages the mobile customer:
Define your roles & goals Set up your social world: which
platforms benefit the company strategy.
Engage like a peer. Listen & respond Assess & Evolve
Measure the activity Translate data to lead to your success
benchmarks
SOCIAL MEDIA: MARKETING BLUEPRINT
44.3% of the U.S. population have smartphones today.Average U.S. adult spends 141 minutes per day on
mobile devices.Key mobile commerce themes this year:
Shopping experience on mobile, through apps Omnichannel: integration brick stores, online for inventory
management & fulfillment Predictive analytics: leverage customer data to drive sales Same-day delivery of online orders
SOCIAL MEDIA: ACTUAL IMPACT
NEW FOOD PRODUCTS
~ searching for convenience & nutrition ~
NEW FOOD PRODUCTS: EATING OCCASIONS
Breakfast – 34%Salty snack – 22%Dinner – 15%Appetizer/light meals – 11%Candy & Gum – 9%Other –
10%
Yogurt, esp. Greek-strained strengthen this category:
NEW FOOD PRODUCTS: FOOD ITEMS
Individual Sweets
Bread, baked goods
Chips, Pretzels
Energy Bars
Yogurt
414
536
586
291
945
376
469
501
205
441
% Chg.20092011
Specialty segment is fastest growing of lifestyle categories in stores
Sales of “Non-GMO” labeled products surge
Other key labels: “gluten-free”, “all-natural”, “air-popped/baked”, “organic”.
Healthy, convenient snacks: Cookies and crackers lead … wait, what?!On the go, fortified ingredients
LIFESTYLE FOODS
MARKETPLACE: TOP PROCESSORS
Leading Food makers in the U.S. and Canadian economies
Food company investment remains very active. The Food Institute online mergers search results for
2013: 281 M&A deals closed (287 for the year 2012) 34% - food processors (dairy, meats, multi-product) 15% - private equity/bank involvement
(Source: Food Institute online mergers search & Food Business M&A 2013 publication).
FOOD MERGERS & ACQUISITIONS
Resources from The Food Institute to ensure compliance with U.S. trade regulations and changes:
Food Safety Modernization Act: Webinar SeriesU.S. Labeling Guidebook
READY TO EXPORT TO THE US?
One place for informed decisions
Many ways to access reliable data
FOOD INSTITUTE: ESSENTIAL RESOURCE
Lina Khouri Bush/Account Executive 201-791-5570 ext. 214 [email protected]
Brian Todd/President 201-791-5570 ext. 217 [email protected]
CONTACT US FOR QUESTIONS
