Report: U.S. Economy Up 6.4% in Q1

The U.S. economy grew at a 6.4% rate in the first three months of the year, The Associated Press reported Thursday. The gains are setting the stage for what economists are forecasting could be the …

Industry Insider: Global Shipping Problems to Persist into 2022

While the world looked to the second half of 2021 as the “Great Reopening” following the COVID-19 pandemic, it seems the “Great Backlog” is a more apt name for the current shipping paradigm. From sweatpants …

FI Agriculture Recap: Stability Largely Returning to Rural Economy

Strong grain prices, low interest rates and increasing exports are bringing stability to the rural economy, the June Rural Mainstreet Index from Creighton University indicates. Strong growth points to an improving farm economy featuring solid …

Cell-Cultured Meat Looks to Go Mainstream

Israeli startup Future Meat Technologies Ltd. is in talks with U.S. regulators to start offering its cell-based meat products in restaurants by the end of next year. THE WORLD’S FIRST INDUSTRIAL CULTURED MEAT PRODUCTION FACILITY …

Delivery Developments: Local Challengers, New Avenues, and Automation Increasing

As we approach the second half of 2021, the outlook for food delivery is starting to shift in a few noteworthy respects. NEW, LOCAL CHALLENGERS ENTER THE MARKET Big delivery apps including Uber, Grubhub, and …

Social Media Critical for Securing Consumers Under 40, Study Says

Despite the rapid growth of social media, many companies are just beginning to grasp the power of influencers, noted Kevin Brown, the chief marketing officer of Onbe, a payments partner for several brands. “To build …

UPDATE: QSRs Rethinking Value Meals as Costs Rise

Fast-food chains, such as McDonald’s and KFC, appear to be cutting discounts and pushing more expensive meals post-pandemic. QSRs are cutting back on $5-and-under “value” menu items in favor of $10-$30 meal combinations in order …

U.S. Meat Processing Update: As Industry Faces Oversight, Sanderson Explores Sale

As demand for chicken products rises, and the meat industry addresses anti-competitive behavior, Sanderson Farms Inc. is reportedly exploring a sale. POSSIBLE SANDERSON SALE Sanderson Farms tapped Centerview Partners for advice on its potential sale …

Wingstop “Brand Hack” Reflects Agility of Virtual Restaurant Concepts

Wingstop’s foray into chicken thighs is the industry’s newest testament to the growing power of the virtual restaurant. The company is launching Thighstop, a virtual concept “brand hack” that will serve up crispy chicken thighs for …

Worker Shortage Leaves Suppliers Scrambling for Drivers

Food suppliers are turning to out-of-state workers and recruiters to fill job openings, with some even being paid six figure salaries. RENT-A-STAFFER BOOM Some New York food suppliers are hiring Alabama-based truckers as they can’t …

Author: Misconceptions About Gen Z Consumers are Many

Youthful consumers that comprise “Generation Z” are becoming a powerful economic force. The group — comprised of preteens, teens, and young adults – is now 2.5 billion strong. Jason Dorsey, a keynote speaker and co-author …

Food Industry Financials: Inflation, KR, and more

Here are trending economic and food industry data points, as well as major economic and company earnings releases for the coming week: inflation analysis, food commodities outlook, The Kroger Co. (KR) earnings digest, and more. …

The Internet of Things Is Growing Across the Agricultural Landscape

While The Food Institute has previously explored some NASA-inspired innovations in the agriculture industry, we’re going to stay somewhat closer to Earth and take a deeper dive into how The Internet of Things (IoT) has …

M&A, IPO Activity Picking Up Pace

Acquisitions and IPOs seem to be gaining momentum heading into the summer. Here’s a look at notable business moves in the food industry in recent days: PILGRIM’S PRIDE TO ACQUIRE KERRY CONSUMER FOODS Pilgrim’s Pride …

Study: Independent Grocers Spur Significant Economic Growth

Independent grocers now account for 33% of total U.S. grocery sales, according to a new research from the National Grocers Association (NGA). The independent sector, which includes 21,574 stores nationwide, contributes more than $255 billion to the …

Personalized Nutrition Turning Consumer Diets Inside Out

As consumers become increasingly health conscious and the risk for chronic diseases such as obesity keeps rising, a new wave of nutrition-minded biotech companies have been analyzing DNA/biological compounds to reimagine our relationship with food. These services …

A Glimpse at the Future of Data Driven Retailing

On countless occasions during her career, Kerrie Lopez wished she had analytics to back up an idea. That said, Lopez, the head of merchandising marketing with Thrive Market, is careful not to rely on analytics …

Popularity of Frozen Food Continues to Solidify

Frozen food experienced significant growth throughout the pandemic, and demand for the category remains sticky. Data suggest that the popularity will linger in the long term, as consumer shopping patterns continue to favor the convenience …

Restaurants Back from the Brink with Soaring Sales

U.S. restaurant sales reached $67.3 billion in May, representing the third month in a row that sales reached an all-time high, according to Census Bureau statistics. The growth is set to accelerate, according to OpenTable …

U.S. Employers’ Next Challenge: Handling the ‘Great Resignation’ Wave

A strange thing happened as the U.S. started emerging from the pandemic: Rather than workers debating whether they wanted to go back to the office a few days a week or full-time, many just decided …

FI Agriculture Recap: USDA to Provide $1B in Disaster Aid to Producers

Here’s a look at the latest in agriculture news from throughout the U.S. this week. … USDA announces more than $1B disaster payments: The USDA plans to begin distributing more than $1 billion in Quality …

Key Economic Measures Reflect Rise in Food Costs

Pandemic-related impacts on the global food supply chain have triggered a domino effect of price hikes, with producer and consumer prices consistently rising over the past 12 months, according to several economic measures. Key drivers …

Worsening Drought Envelopes Much of Western U.S.

Dangerous heat waves in much of the western U.S. could soon break all-time temperature records. And, those temperatures are worsening drought conditions that were already plenty worrisome. The latest drought monitor released June 10 categorizes a …

Perdue Calls Animal Rights Group’s Lawsuit Over Fresh Line Labeling ‘Frivolous’

Perdue Farms labeled “frivolous” a lawsuit filed against the U.S. Department of Agriculture and the USDA Food Safety and Inspection Service by the Animal Legal Defense Fund alleging FSIS allowed Perdue to use misleading labels …

The Omnichannel Shift Transforming CPG Companies

For the last 5 years, many people believed that CPG e-commerce would be dominated by an Amazon-like model based on fulfillment from warehouses. This deeply impacted their organization, ways of working and analytics. However, shoppers …

Breaking: UK Rethinks Reopenings Due to Delta Coronavirus Variant

British Prime Minister Boris Johnson is expected to announce a delay in easing business restrictions late Monday, because of rising infections due to the delta coronavirus variant, reported AP News. The delta variant was first …

FI Trending Topic: Home Chefs Connecting with Customers Via Delivery Apps

Shef has raised $20 million to expand its homemade meal delivery marketplace. The company helps home chefs connect with customers by handling orders and getting the food delivered, reported TechCrunch (June 2). Back in 2019, …

Food Industry Financials: Inflation, CPB, and more

Here are trending economic and food industry data points, as well as major economic and company earnings releases for the coming week: inflation analysis, earnings from Campbell Soup Company (CPB), Chewy, Inc. (CHWY), and more.   …

Rapid Digital Convergence Propels Shift to Omnichannel Commerce

Pandemic pressure from consumers has supercharged e-commerce technology and triggered its rapid adoption, ultimately blurring the boundaries between traditional food categories like never before. The stage is now set for an omnichannel future wherein providers …

It’s Subway or the Highway: Franchisees, Company Fight Over New Contract

Vegetables that don’t lend themselves to the “eat fresh” mantra. The inability to close more than once a year unless an “Act of God” occurs. No leniency in a labor market that can best be …

FI Webinar Recap: Solving Labor Shortages in the Food Industry

Labor shortages have slowed the post-pandemic foodservice renaissance. Restaurants ranging from fine dining to quick serve are looking at approaches to combat the dearth of workers. DMA and The Food Institute brought together four industry …

Rising CPI and Spend on Importing Add to Inflation Unease

The Consumer Price Index increased 0.6% in May on a seasonally adjusted basis after rising 0.8% in April, the U.S. Bureau of Labor Statistics reported Thursday. Those numbers, plus concerns about spend on importing, are …

FI Retail Roundup: Amazon’s Prime Day Plans Prompting Shift in Competitors’ Mindset

As COVID-19 eases in the U.S., retailers are preparing for business in a new, post-pandemic paradigm. Here are some recent highlights: Amazon Prime Day Amazon Prime Day always has a big impact on the company’s …

Chipotle Hikes Menu Prices as Inflation Looms

Chipotle Mexican Grill isn’t just boosting wages for its workers; it’s also increasing menu prices by nearly 4% to cover those raises. That’s according to a CNBC report which noted the company will be bringing …

BREAKING NEWS: Campbell Reports Third-Quarter Fiscal 2021 Results

Campbell’s Soup released its third-quarter results and updated full-year guidance this morning.  Shares of the company (Ticker: CPB) are trading down close to 7% pre-market as of 8am ET as investors react to the results: Net …

FI Trending News: Alternative Protein Makers Crack Into Growing Vegan Egg Market

While plant-based meat and dairy markets are saturated with options, vegan egg substitutes have been somewhat limited – until now. Growth of plant-based eggs According to a report by The Plant-Based Foods Association, U.S. plant-based …