Economists warn of a potential recession in 2025. As a result, food and beverage companies must focus on innovation and sustainability as they navigate economic challenges and interest rate cuts.
Retailers have ramped up their merchandise deliveries amid a threatened strike by U.S. dockworkers that could disrupt the imminent holiday shopping season. 45,000 dockworkers are poised to walk out at 36 ports along the East and Gulf coasts following the expiration of the longshoremen’s six-year master contract, which expires on October 1.
The promotion, which started in mid-May, saw visits on Monday, May 27 increase nearly 56% compared to the average number of Monday visitors from the four months prior.
For many major retailers, the latest quarterly results tell a familiar tale: consumers are fed up with high prices, spending less, and commodifying their loyalty by taking the best deal right now, regardless of whose logo adorns their grocery bag or shopping cart.
All of a sudden, $5 value meals are everywhere, from fast-food chains to major retailers. Industry insiders say the deals are simply a short-term solution, however.
Food prices are up; consumer confidence is down. Many QSRs and retail outlets reported losses in the last quarter. The Value Wars are here.
Many consumers feel they can’t win on cost alone – they also need an experience, or at least a decent reason to visit a brick-and-mortar store.
For the first time in the report’s history, the top six brands – all of them – are store brands, from retailers like Walmart, Amazon, and Target.
The celebrity chef, who appeared on Food Network’s Restaurant: Impossible show between 2011 and 2023, fears that as many as one-fifth of all American “mom-and-pop” restaurants could be forced to close by year’s end due to rising labor costs.
Magic Spoon cereal is twice as expensive as most other name brands. Many regard its flavor as questionable and its better-for-you status isn’t as rock solid as consumers would like to believe.
Demand for frozen chicken nuggets is strong, giving alternative varieties a significant runway for lift off — but sales remain grounded.
Major fast-food restaurants have raised prices by 60% on average between 2014 and 2024. McDonald’s is the worst offender with average menu prices increasing more than three times the national rate of inflation over the past decade.
It’s not hard to understand why these companies have found success in a challenging environment. These are comfort food manufacturers (among other things!) whose identities, infrastructure, and revenue are built upon foods people reach for when they’re feeling down, feeling squeezed, or both.
“Tomorrow’s winners will vary how they generate demand across their portfolios, with mass activation for their biggest brands and more targeted treatment for niche and insurgent brands,” Kyle Weza, global co-lead and brand accelerator for Bain & Company, said in the report.
Grocery shoppers are adapting their buying patterns in response to economic uncertainties and external influences in 2024.
Americans are turning away from breakfast cereal, and that’s got cereal manufacturers seeking fresh innovation to bring consumers back to their bowls and the breakfast table.
The other day, I took my son to Five Guys and he got a cheeseburger, fries, and a milkshake. It was almost $20 … yet there was a line all the way to the door. …
EV charging stations outside, stores within stores inside, sprawling beauty sections, niche products, reimagined loyalty programs – the battle for foot traffic is cutthroat as the economy roars to life.
Cocoa prices are nearly 65% higher than they were one year ago, and New York futures prices have hit a 46-year high.
Chicken listings on restaurant menus have grown 6.4% in the past five years, outpacing the 4.7% of burgers and other beef-based items.
How will plant-based evolve in the year ahead? In this industry outlook, analysts weigh in on economic challenges, the financial landscape, and consumer adoption strategies for 2024.
There’s also an interesting feedback loop occurring in American consumerism – the tighter the budget becomes, and the more stressed people feel, the more demands they have regarding how they’d like to be accommodated while shopping.
The recent uproar over a McDonald’s in Darien, Connecticut, that charged a whopping $17.59 for a Big Mac combo meal is more than just local news; it’s a snapshot of the changing economic landscape.
Regardless of when costs come down, consumer behavior has been altered and shoppers will continue to look for the best savings in 2024.
Looking ahead, Zimmerman noted that prices would likely increase in the new year, but the magnitude of that increase would likely be more subtle in 2024.
Monolithic allegiance has given way to the brands and companies that can provide the best, most convenient, and value-driven experiences, making every consumer a seven-headed hydra.
Inflation in Great Britain cooled significantly last month but still remains hot compared to other major western economies including the United States. Inflation in Britain cooled to 4.6% last month, compared to 3.2% in the …
In a telling report from Qualtrics, 28% of Gen Z and millennials say student loan repayments will make the holidays unaffordable this year.
Food manufacturers have seen their profits fall in the past year, forcing them to pass along increases for raw materials, energy, transportation, and packaging.
Demand for instant noodles jumped 2.6% globally to a record high of 121.2 billion servings last year, according to the World Instant Noodles Association, and 2023 marked the seventh consecutive year of instant noodle growth and consumption.
E-commerce has not only failed to kill the great American retail experience but is helping it thrive as sales associates and vendors large and small are using the omnichannel to attract customers, enhance sales, and reduce customer acquisition costs.
QSR jobs will be in high demand once the law passes as workers try to reduce their dining expenses in lieu of high food costs and an inflationary environment. More importantly, however, California just bolstered the prospects of hundreds of thousands of current and (more importantly) future fast-food workers.
This fall, candy manufacturers are faced with a frightening reality: many shoppers are planning to ease back on Halloween-related purchases. A new Halloween Spending Trends report revealed 73% of Americans said their shopping for the …
Despite major restaurant chains enjoying increased spending from consumers, a spate of closures have hit smaller restaurants.
The average family back-to-school spend is $890.07, driven largely by the cost of electronics.
The term “sugarflation” could soon become part of the global lexicon. Everything from candy and soft drinks to baked goods are likely to become more expensive in the second half of 2023 – sugar prices …
