Top Grocery Retailer and Food Supply Chain News Nov 16-30
November 30, 2023
Here is our bi-weekly roundup of the latest food industry news. In the weeks of Nov 16-30, new research highlighted that over the past five years, consumers have prioritized transparency at an increasing rate, and new ways for grocery retailers to take advantage of private labels, prepared foods and “hybrid” trends were identified.
Consumers Value Transparency
Over the past five years, grocery shoppers have prioritized product transparency at an increasing rate, according to the FMI/NIQ Transparency Trends 2023 report.
Food Trends of 2024
Food Industry Executive gathered the top trends that food industry experts predict to be big in 2024.
Gen Z Prefer Private Labels
According to a consumer research report by PLMA, Gen Z chose the grocery store they shop at because of the store brands. 64% of the surveyed Gen Z participants said they buy store brands always or frequently, while 56% are extremely likely or likely to experiment with store brands to find the “best value”.
How Grocers Can Take Advantage of Prepared Foods
Progressive Grocer listed ways grocers can tackle recent challenges they have faced due to inflation. Strategize to adapt include convenience, prepared foods and right packaging.
How Grocers Can Approach the “Hybrid” Trends
Consumers are eating meals at home that include a mix of semi or fully-prepared items from grocery stores combined with homemade foods. Grocery retailers can leverage this trend by highlighting their deli-prepared options.