Grocery shops, drug stores, restaurants and fast-food stores are all battling for a share of consumers' stomachs, and in this battle, retailers seem to have the upper hand, according to an updated study from Technomic. The group's 2015 Retailer Meal Solutions (RMS) Consumer Trend Report finds that consumers are purchasing RMS more often, many times at the detriment of fast-food outlets.
Technomic found that 84% of consumers purchase RMS at least once a month, up from just 79% of consumers in 2012. The increase is largely attributed to younger consumers in the 18 to 34 age bracket, who are increasingly reliant upon foodservice in general. According to Kelly Weikel, director of consumer insights at Technomic:
“Further enhancing the in-store experience and innovating with differentiated, restaurant-quality menu items will help retail-prepared food operators continue to steal share of stomach.... Operators and suppliers can appeal to consumers by offering dishes featuring new and ethnic flavors, such as spicy Asian flavors and regional Latin flavors.”
The study, which compiled findings from over 1,500 U.S. consumers and Technomic's MenuMonitor and Digital Resource Library, also included some other key takeaways:
The rise of RMS products is an interesting shift in the foodservice industry, opening new avenues of growth for traditional retailers. Shoppers are showing retailers that they are looking for a quick meal solution following a shopping trip, and forward-thinking brands and products will position themselves for success by taking advantage of these market opportunities.
[Editor's note: OFW Law Principal Attorney Michael J. O'Flaherty provided this blog piece regarding the need for federal oversight regarding the ongoing trend of class action lawsuits filed against food companies regarding product labeling.]read more
Chris focuses on fresh, canned and frozen fruit and fresh and dried vegetables for the Food Institute Report. In addition, he assists in compiling data for various Food Institute publications throughout the year. He is a proud Rutgers University alumnus with a degree in English, and has a background in web writing for a variety of industries, including legal, foodservice and small-to-medium sized businesses. In his downtime you can find him watching New York Yankees baseball, hiking, enjoying live music and spending time with his dog Kaiden. He invites you to contact him via email at email@example.com to talk about anything food-related.
There are no comments, yet. Why don't you add one?
10 Mountainview Road
Upper Saddle River, NJ 07458
Food Institute reps are available to answer your questions
BECOME A MEMBER
For close to 90 years, The Food Institute has been the best "single source" for food industry executives, delivering actionable information daily via email updates, weekly through The Food Institute Report and via a comprehensive web research library. Our information gathering method is not just a "keyword search."