Top Fresh Food Trends That Can Redefine Business Success in 2018
Date : Apr 20, 2018 Author : PMR Editorial Staff Category : Food and Beverage
Leading food companies and retailers are tuning in with the evolving shopping behavior and purchase patterns of consumers to improve their brand identity and sales.
In these transformative times, brick and mortar retailers and food processing companies are focusing on repositioning themselves in alignment with the changing tastes and preferences of consumers to remain in sync with their evolving needs. Concerns regarding health and wellness among consumers have renewed the definition of “good for you” food products.
While the overall spending patterns of consumers have remained steady over the past few years, retailers and food companies are focusing on looking through the lens of consumers to improve the quality and taste of food products offered. Besides reinvigorating their commerce through collaborations, consolidations, and partnerships, retailers and major food companies are investing their efforts towards diversifying their product line by accommodating innovative food products that offer tangible health benefits alongside catering to the taste and dietary preferences of consumers. Retailers are stocking their shelves with fresh food products labeled as ‘non-GMO’, ‘organic’ and ‘antibiotic-free’ to align with the fragmented preferences of consumers. Here are some upcoming trends identified in the market that can transform the value chain of food companies.
In essence, customers are deviating from traditional shopping behaviors and prefer spending on health-benefiting food products. To improve their brand recognition and retain customer loyalty, leading food companies are focusing on identifying consumer purchase patterns and analyze their shopping decisions. Major food firms and restaurants are concentrating on aligning with recent trends related to buying behavior to drive long-term success and remain at the forefront of an ever-evolving landscape.
- Multi-Sensory Food Products:
To satisfy the changing taste and preferences of consumers, food manufacturers and processors are focusing on developing fresh food products that offer a multi-sensory experience. Demographic shifts in populations across the world has led to a growing influence of various cultures in food, due to which retailers leading food companies are concentrating on creating ‘impulse-driven’ categories to expand their customer base. Implementing principles of ‘synesthesia’ where sensory profiles such as taste, smell, colors, texture, mouthfeel trigger one another, in addition to using innovative packaging, is expected to be a key trend that can enhance the overall consumer experience.
With the shift in the preferences of health-conscious consumers, food retail outlets are focusing on incorporating ingredient descriptions and labels. Leading multinational retail corporations such as Walmart are focusing on incorporating additional labels to fresh produce and meat to assure customers about the nutritional value, quality and freshness of the food products. In addition, food retail outlets are focusing on offering packaged food products that are equipped with ‘certified organic’, ‘non-GMO’ and other such labels. Preference for food products that are certified and as healthy is influencing the purchase patterns of health-conscious consumers.
- Strengthening Farmer-to-Consumer Connect:
Consumers are becoming more conscious and aware their health and wellbeing. In order to supplement their healthy diet, they prefer spending on fresh food products that are supplemented with high quality ingredients. Banking on the increasing awareness of consumers, food retailers, leading companies are strengthening their connections with farmers and utilizing fresh and non-GMO ingredients to offer healthy and fresh food products. There is also a growing focus on establishing a connection between farmers and consumers in terms of the journey from farm to plate. In addition, restaurants are also highlighting the source of their ingredients on menus to showcase their connection with farms. Through these strategies, retailers and leading companies are focusing on gaining customer loyalty, increasing shelf space, and establish their brand identity.
- Personalization of Products:
With the evolving preferences of consumers, retailers have also had to quickly adapt to stay ahead of the curve in terms of store layouts, choice of offerings, aesthetics as well as the adoption of technology. Changing demographics, household consumer spending and the means of consuming goods and services due to the greater influence of technology in day-to-day life has led to a metamorphosis in buying behavior leading to intricacies in consumer demand that retailers are trying to leverage. It is likely that we will see an unprecedented rise in the influence of data and technology to understand consumer preferences, which retailers will use to employ targeted marketing strategies both in-store and through online channels.