Tag: IRI

Study: Gen Z Flocking to Fast-Casual Restaurants

These days, members of Gen Z are flocking to quick-service restaurants. In the 12 months ending July 2022, Gen Z consumers made 5 billion total restaurant visits, and 4.3 billion of those visits were to …

IRI: Creating Revenue Opportunities Amid Inflation

With the U.S. inflation rate at an elevated 8.7% for July 2022, consumers, manufacturers and retailers alike must remain agile to adapt to ongoing economic pressures. “The past few years of COVID-19 have brought enormous …

Innovation Continues to Drive Beverage Category Growth

From bottled water and better-for-you bubblies to convenient coffees and cocktails, the beverage market is booming. Total sales for center store beverages reached $86 billion in the 52-week period ending June 12, per IRI, making …

Consumers Diving into Frozen Desserts

Consumers’ perpetual sweet tooth for frozen treats continues to drive category sales, despite equally persistent supply chain challenges. In particular, the frozen novelty segment has been a powerhouse over the past few years, with April …

IRI: Global Snacking Trends to Watch

A recent webinar from market research firm IRI unpacked various snacking opportunities around the globe that are enticing shoppers amid current economic challenges and new patterns of consumption. Here are a few key takeaways: The …

Fresh Berry Category Ripe for Summertime Success

Berries were a powerhouse throughout the pandemic and the category continues to thrive as convenience and nutritional appeal keep consumers coming back for more. According to an April report by IRI, fresh berries are the …

Bacon Battles Soaring Inflation with Innovation

As record high prices put a damper on bacon sales, retailers and producers are leveraging innovation to help drive consumer engagement. Per IRI data, dollar sales for bacon totaled $6.4 billion in the week ending …

3 Strategies for CPG Success During a Recession

During the Great Recession, consumers spent less, traded down, and cut back on many CPG purchases. A recent report from the IRI Recession-Proof Your Business series explored these behaviors to glean strategies for success in …

Deli Prepared Foods Thriving Despite Inflationary Squeeze

As rampant inflation tightens its grip across the food industry, many consumers are cutting back on grocery staples and trading down to cheaper items. All the while, higher-ticket prepared food sales are soaring. Comparative unit …

7 Ways CPG Companies Accelerated Growth in 2021

In a recent IRI webinar on consumer packaged goods (CPG) company performance in 2021, senior leaders from three of the category’s top performing companies — Michael Del Pozzo from PepsiCo, Gary Osifchin from Reckitt, and …

Can Indulgent Treats Improve Health and Wellness?

The pandemic era strengthened food and beverage trends like health, wellness and nostalgic indulgence. While contradictory at first glance, these behaviors are finding alignment as consumers redefine what constitutes “healthy” behavior. Health and wellness are …

Can Plant-Based Innovation Boost Store Brand Sales?

On the heels of a stagnant sales year for store brands, Amazon and Kroger are bulking up their private label portfolios with plant-based products. Is category innovation on the horizon? The Food Institute Podcast · …

Is Plant-Based Meat at a Retail Crossroads?

Alternative meat sales continue to plateau at retail following strong performance in recent years. Has plant-based meat reached its peak, or is this just a lengthy chapter in the emerging category’s evolutionary process? According to …

Why Are Private Label Products Not Thriving Amidst Inflation?

Shoppers have historically gravitated to store brands when economic times get tough. But despite record-high prices, private label food and beverage sales continue to dip below their national counterparts at retail. Overall, store brand dollar …

Growth Prospects Strong for Plant-Based Cheese

Cheese is pegged as the next growth category for plant-based dairy at retail, as quality innovations flourish and big players start to make inroads. Globally, the vegan cheese market is expected to expand at a …

Study Reveals Trendsetting CPG Companies

The 10th annual Growth Leaders study from IRI and Boston Consulting Group (BCG) explores the top performing consumer packaged goods (CPG) companies of 2021 and strategies that enabled their growth. The total U.S. CPG industry …

How Much Inflation Can Consumers Handle?

Inflation at the grocery store continues to rise — and consumers are noticing. In fact, the CPI food at home index rose 7.4 percent over the last 12 months, according to The Bureau of Labor …

IRI Report: Versatility Key to Winning Breakfast Category

Breakfast occasions were big business for retailers in 2021, with at home consumption remaining above pre-pandemic levels. However, many traditional breakfast categories saw mixed sales results. In a new report, Winning Breakfast, Generation by Generation, …

Why Consumers are Still Buying in Bulk

Nearly two years into the COVID-19 pandemic, consumers are still buying in bulk. Following over 20 years of steady but slow sales growth, sales at bulk retailers Costco, Sam’s Club and BJ’s Wholesale Club, rose 26.6% …

Assessing the Plant-Based Landscape for 2022

Pandemic challenges in 2021 impacted the plant-based industry in divergent ways, as more consumers experimented at home and operators across restaurants and retail prioritized inventory over innovation. “At retail, we are seeing the biggest [plant-based] …

Deli Department Slices Way Toward Growth in 2022

The deli department was a grocery hotspot in 2021 and retailers are anticipating continued popularity in the year ahead. According to IRI data, deli department sales totaled $40.8 billion in the 52-week period ending December …

Consumers Expecting 2022 Grocery Price Surge

With grocery prices at a 10-year high, a recent survey by KPMG finds consumers expect prices to rise even more in 2022, with everything from mac-and-cheese to mustard and produce logging hefty increases. The KPMG …

Experts Weigh In on 2022 Inflation Outlook

With food more expensive than it has been in decades and inflation surging, business owners and consumers alike are worried about what the future holds. How high can prices go? When will inflation starts to ...
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2021 Food Labeling Summit

IRI: Snacking at Home Trend Destined to Continue

Snacking behavior continues to evolve as more consumers return to work and resume activities outside the home. In the months ahead, companies should anticipate demand for on-the-go items —including snack bars and single-serve packaging — …

What’s Ahead In 2022?

The food and beverage industry has gone through tremendous change over the past 12 months. 2021 has shown us that this industry can adapt quickly and pivot in the face of adversity. But what lies ...

Carbonated Beverages Bubbling Over with Innovation

The carbonated beverage category continues to evolve as low – or no-sugar attributes resonate with consumers and manufacturers pivot their traditional soft drink presentation accordingly. “The narrative is changing from ‘diet’ beverages to ‘no sugar,’” …

Is Frozen Food’s Hot Streak Starting to Cool?

Although the frozen food aisle showcased a 3% increase in dollar sales for the 52 weeks ending Oct. 17, a 0.5% drop in unit sales indicates demand in the red-hot frozen sector could be cooling, …

Plant-Based Meat Deceleration Signals Niche Future

Plant-based meat sales in restaurants and retail are beginning to plateau following a meteoric rise throughout the pandemic period, while traditional meat engagement remains strong. Data and supporting analyst insights from IRI suggest that this …

Millennials, Gen Z Fueling Coffee Sales Boom

Coffee consumption is going strong throughout the U.S., with drinks away from home on the rise and younger consumers driving the popularity of specialty, refrigerated, and ready-to-drink brews. According to the National Coffee Data Trends …

Are National Brands Overtaking Private Label?

Over the past twelve months, national brands have turned the tables on private label, racking up a higher percentage of total dollar sales for edible products and beverages. The new data suggests a shifting landscape …