Top Grocery Retailer and Food Supply Chain News March 1 – 15
By iFoodDS Team
March 15, 2023
Here is our bi-weekly roundup of the latest food industry news. In the weeks of March 1 – 15, transparency and quality were identified as the main drivers when buying meat, preference for private labels and demand for fresh products continued to grow, and grocery retailers shared their thoughts on inflation and consumer behavior.
Transparency and Quality Are the Main Factors for Consumers buying Meat
According to Midan Marketing Research, 63% of consumers want to know more about the who, what, where, and how behind their food. The meat industry is no exception, as consumers consider “natural” meat (no-added hormones, US-raised, no antibiotics) as high-quality indicators, and one in three consumers looks out for claim-based products.
Consumers’ Preference for Private Labels
A study from Attest identified that 73% of consumers will continue to buy private labels as the economy improves. The study also identified that 9 out of 10 shoppers are visiting multiple grocery stores to find the best deals.
Grocery Retailers Share Their Thoughts on Inflation and Consumer Behavior
Q4 earnings calls provided an opportunity for grocery retailers to reflect on the past year. Inflation was the biggest challenge they faced. Consumers’ reactions to price changes is one of their concerns for 2023, and leveraging private labels is an area of opportunity for retailers this year.
Consumer Trends That Will Impact Grocery Shopping
Supermarket News identified 5 trends that will impact grocery retailers as consumers are faced with uncertain economic times. The increasing demand for fresh food and expanding the offerings of products in-store are some of the trends that retailers can leverage to increase sales and customer loyalty.
Unilever Presents Food Trend Data
According to Unilever Food Solutions’ “2023 Future Menu Trends”, feel-good products, vegetables becoming the center of the plate, and reduced food waste are some of the trends predicted to shape the food industry.
Jennifer McEntire Shares Her Thoughts on Food Safety
Dr. Jennifer McEntire shared insights on the current state of food safety in the industry and how it will continue to progress in upcoming years.
