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Coronavirus Revitalizes Shrinking Retail Center Store Products and Frozen Foods
The coronavirus outbreak in the U.S. has revitalized sales in the center of retail stores, home of shelf-stable and frozen foods that have generally been experiencing declining or slow sales growth over a number of years, reports market research firm Packaged Facts in the report U.S. Food Market Outlook 2020: Home Cooking, Grocery Shopping, & Food Trends in the Age of Coronavirus.
Previously, consumer's increasing desire for fresh unprocessed, healthier foods—found in store sections such as produce, meat and poultry, seafood, dairy, and deli and bakery—has been the main driver for the center store decline...
Uber Sees Doubling in UberEats Operations as Ride Hailing Business Stays Low
On August 6, Uber Technologies Incorporated (San Francisco, CA) announced its quarterly earnings results. The company's UberEats unit remains the bright spot for the company, seeing revenue doubled to $1.2 billion as Americans continue to stay at home despite changes in restaurant operation across various states since April. This is in contrast to the ongoing sharp declines in the company's flagship ride-hailing unit as fewer riders and drivers in the US returned to the platform despite improvements in other countries where coronavirus effects are currently more muted...
Food and Beverage E-Commerce Sales Growing Rapidly but Still Small
Even prior to the coronavirus pandemic, online sales of food and beverages in the U.S. have been growing rapidly and totaled about $17 billion in 2018. They are forecast to increase 32% per year through 2023, according to Packaged Facts in the report U.S. Beverage Market Outlook 2020: Grocery Shopping & Personal Consumption in the Coronavirus Era.
Yet, while e-commerce sales are growing rapidly, they still represent a very small percentage—about 4%—of total food and beverage sales.
The impact of online sales varies by food category, ranging from less than 1% to 3% of sales. Coffee and tea sell the best, while dairy and juices...
U.S. Foodservice Revenues to Decline 25% from 2019, But are Expected to Rebound by 2024
Although full-service restaurants have slowly been losing share of restaurant spending to less expensive and more convenient fast food and fast casual restaurants, they still made up the largest share of revenues from eating and drinking places in 2019, according to Food Carryout & Delivery, a recently published report market research firm Packaged Facts.
As the coronavirus pandemic sweeps the nation in 2020, foodservice revenues are forecast to decline more than 25% from 2019 as dine-in service shuts down amid decreased consumer spending on restaurants as people stay at home and cook more even as some states slowly begin reopening. Revenues will...
Packaged Facts: Global Meat Consumption On the Rise
While meat-eaters are increasingly trying plant-based protein options, meat consumption worldwide is expected to increase 1.4% per year through 2023, according to data published in the new Packaged Facts report Global Meat & Poultry Trends.
Meat and poultry consumption in the U.S. is expected to increase less than 1.0% per year through 2023, but greater gains are projected in other parts of the world. Most notably, nations in Africa and the Middle East are forecast to register the fastest increases in meat consumption, as rising living standards and income levels allow more people to incorporate meat into their regular diet.
"In many parts of the world, meat is among the least affordable food options. It is generally pricier than locally available grains, beans, vegetables, and fruit. However, as average incomes rise, more people to eat meat, first as...
Gen Z and Millennial Consumers Naturally Favor Organic Foods and Beverages
The prevailing demographic of organic consumers skews in two directions. Most obvious are consumers who are upscale (including higher educational attainment and household income). Less obvious are younger adult consumers of the Gen Z (ages 18-24) and Millennial (ages 25-39) generations, reveals Packaged Facts in the new market research study Eating Trends: Generational Food, the final report in a five-part Eating Trends anthology.
“Millennials and younger members of Generation X tend to be the biggest users of organic foods, and much more likely than average to agree that they especially look for...
Packaged Facts: Affluent Consumers Favor Fresh, Local, and Simple Food Brands
The 42 million affluent food shoppers with household incomes of $150,000 or more exercise an outsize influence on the U.S. food industry, reports Affluent Food Shoppers, a market research report by Packaged Facts. Where affluent consumers grocery shop, how they grocery shop, and which food and beverage products and brands they purchase cause them to have a disproportionate impact on the bottom line of brick-and-mortar supermarkets and grocery stores.
When it comes to brand preference, many brands that are popular among affluent food shoppers share certain specific characteristics. Natural and organic brands garner much of the attention, but...
Restaurant Gift Card Use Trends Up
Gift card season is officially upon us. And though the majority of Winter holiday shoppers are focused on gift cards for top retailers, it’s important not to overlook the growing use of gift cards to popular restaurants and coffeehouses.
In the recent report Eating Trends: Restaurant Use, Packaged Facts states that between 2011 and 2019, the share of adults who buy gift cards overall has declined by five percentage points, to 39%. However, purchase of gift cards specifically for restaurants or coffeehouses is up by three percentage points, to 20%. Usage has steadily increased each year since 2011. As a result, growth in use of restaurant gift cards, much like growth in the use of restaurant coupons, is...
Packaged Facts: Food E-Commerce Sales will Increase 32% Annually
Online sales of food and beverages in the United States reached $17 billion in 2018, making the U.S. the second largest food e-commerce market in the world with 15% of global sales, according to U.S. Grocery Market Focus: The Amazon Food Shopper, 2nd Edition, a new report by market research firm Packaged Facts.
Through 2023, food e-commerce sales in the U.S. are forecast to increase 32% per year. As the availability of online grocery shopping expands and consumers begin to embrace online shopping for its convenience compared to shopping in-store, sales are expected to rise dramatically.
"This is undoubtedly a market that is ripe for...
Packaged Facts: Consumer Use of Restaurant Coupons
Though overall use of coupons is down since 2009, consumer use and redemption of restaurant coupons is up by five percentage points, to about a third of U.S. adults, according to Eating Trends: Restaurant Use, the fourth study in a five report Eating Trends series by market research firm Packaged Facts.
Restaurant coupons have been given a boost by instant, digital, and online/app point-of-sales use through newer delivery services—this is on top of longstanding restaurant coupon use for fast-food pizza chains (including delivery or take-out) or other fast-food chains (including for drive-through).
These services have helped diversify the range of eating establishments and the range of...
What’s Next for Amazon: Expanding AmazonFresh Beyond Online Grocery and into Brick-and-Mortar Stores
Dropping monthly fees associated with AmazonFresh and instead making it a free benefit for Prime members is not just about reenergizing Amazon’s online grocery service. It suggests that Amazon intends to use the brand to grow beyond the limitations imposed by Whole Foods-Prime Now relationship.
Behind the scenes, Amazon has clearly been trying to figure out how to balance AmazonFresh and Prime Now, its 1-2 hour delivery service. Since acquiring Whole Foods in 2017, Amazon seems to have given Prime Now more attention, leveraging...
Amazon to Overtake Walmart by 2022, Forecasts New Packaged Facts Report
Amazon is set to become the largest retailer in the United States. While Walmart is currently the largest retailer, its reign may end in 2022, at which time market research firm Packaged Facts forecasts that Amazon will surpass Walmart, based on the expectation that Amazon sales will continue to grow at a much faster rate.
Packaged Facts made the prediction in the brand new report, Amazon Strategies and the Amazon Shopper, 2nd Edition, which analyzes the e-commerce giant's activities in grocery, pet products, and financial services.
"Amazon's already has an enormous impact on e-commerce sales, benefitting from its creation of an endless online aisle with...
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