Retail Market Trends

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The Kearney Private Label Report shows an industry with the wind at its back, with positive demographic trends, category proliferation that fills in gaps in national brands’ portfolios, the quality-to-value equation being increasingly recognized by shoppers, and a strong potential boost to retailer economics. 

Consumers continue to say their primary store for purchasing food does an excellent job of meeting their needs, with 79% of shoppers reporting that getting a “good value” when grocery shopping is their top priority. 

Joan Driggs, Circana’s vice president for content and thought leadership, sits down with Prepared Foods to break down trends fueling success for Circana’s top New Product Pacesetters at both the retail and convenience store channels.

The report, “Tapping Into the Global Consumer Well-Being Opportunity,” reveals the complexity of personal well-being, with consumers turning to solutions as varied as physical activity, social media, food, pet ownership, beauty, and books, among many other products and services, to harmonize their physical, mental, and social well-being.

Walmart promoted a 50% discount on its Walmart+ membership in mid-July that lowered the annual fee from $98 to $49 after offering the same deal in May. Meanwhile, Instacart promoted an 80% discount on its annual membership. Both offers are contributing to growth in Delivery users and order frequency.

One of my biggest observations of The National Restaurant Show involves the reformulation or “remake” of many products made with familiar ingredients and flavors. Both shows reminded me of elements from my childhood, and particularly how my grandmother cooked. She worked as a cook 41 years for a first-generation family from Italy. 

“We were so honored to be invited to the Fancy Food Show this year. It is a great way for our students to see how broad the food industry is and understand the impact of the work we do at the lab,” said Drexel Food Lab Associate Director Chef Rachel Sherman. “I find it encouraging to see what products and trends jump out to them."

The ambiguity continues as half of Americans also do not know how much sodium they consume each day. When asked about their personal daily sodium consumption, 48% of Americans say they simply “don’t know,” while estimates vary widely for the other 52%.

Physically active consumers want convenient, protein-packed options to fit into their on-the-go routine. “Plant-powered” ready-to-drink (RTD) and ready-to-mix (RTM) protein beverages are emerging as a perfect solution to fill this niche nutrition category and grow into the mainstream market.

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