In this issue of MIF Newsletter, learn more about the growingly popular "home grown" trend, why convenience is king, the rise of Generation G, and the power of customer made products.
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.