Welcome to this edition of More VISION in which we look at trends in the food & beverage sector. This is an industry that is increasingly important to bricks & mortar, or offline, retailing. It’s something you can’t replicate online, so it is a major differentiator between the two converging industries. Food & beverage is one of the reasons to get out of the home and go shopping! but even this industry is changing – here we look at four trends that are shaping the food & beverage market:
- Still made here: 63% of consumers across 10 different countries would pay extra to support local merchants.47% would pay extra for products ‘made close to home.’
- Convenience: Consumers lead busy lives. They are happy to spend on anything that makes things a bit faster, more hassle-free, and easier, whether it’s new formats, bundled products or innovative models.
- Generation G: That’s G for generosity, not greed! For many, giving, sharing and then receiving recognition have replaced ‘taking’ as the new status symbol.
- Customer made: The phenomenon of brands closely cooperating with creative consumers to make goods, services and experiences, and in turn giving them a direct hand in (and rewarding them for) the final output.