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In a Bear Market, Investors Bet on Black: RoboBurger Raises Funds In a $10M Seed 2 Funding Round
RoboBurger Inc is the maker of the RoboBurger: the world's first fully autonomous robotic burger chef in a box, that grills, toasts, adds condiments and assembles a fresh burger, in about 4 minutes.
RoboBurger Inc, represented by DLA Piper, is excited to announce that it opened its Seed 2 round of funding in partnership with Promethean Investments LLP, a private equity firm headquartered in London. The new Seed 2 funding round will allow RoboBurger Inc to grow and scale up production...
Year-Over-Year Retail Sales Growth Continues
Retail sales remained strong on a monthly basis and saw another year-over-year gain in September despite an interest rate hike from the Federal Reserve and continuing inflation, the National Retail Federation said today.
“September retail sales confirm that even with rising interest rates, persistent inflation, political uncertainty and volatile global markets, consumers are spending for household priorities,” NRF President and CEO Matthew Shay said. “As we enter the holiday season, shoppers are increasingly seeking deals and discounts to make their dollars stretch, and retailers are already meeting this demand. However, the..."
Conversing on Consumer Behavior with EVP of IRI, Chris Dubois
Chris DuBois is the EVP and Practice Leader for IRI’s Protein practice and leads IRI service, sales, and delivery for IRI’s large protein-focused clients. In addition to leading IRI’s teams, he also works extensively with industry associations and media outlets to share research-based expertise and insights and is a frequent speaker and contributor. Chris Dubois is one of the esteemed presenters at this year’s Global Protein Summit in Chicago. Ahead of his presentation on consumer demand, Chris joined us to talk about the trends of the past year and what to expect in the future.
Restaurant365 Data Reveals Increase in 2022 Mid-Year Sales
Restaurant365, the leading all-in-one restaurant enterprise management software, reported that demand remained strong for restaurants in the second quarter of 2022, citing a 12% increase in its customers' sales from Q1 to Q2, despite the challenges of inflation and rising food costs.
"As economists discuss a potential economic slowdown, restaurants may not yet feel impacted because their sales continue to grow," stated Tony Smith, CEO and co-founder of Restaurant365. "A decline is still a very real possibility, so now is the best time for restaurants to take action..."
Import Slowdown Continues as Fed Tries to Rein in Consumer Demand
With inflation continuing and the Federal Reserve hoping to cool demand through higher interest rates, imports at the nation’s major container ports are expected to fall below last year’s levels for the remainder of 2022, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates.
“Consumers are still buying, but the cargo surge we saw during the past two years appears to be slowing down,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Cargo volumes are solidly..."
UNFI Offers New Meal Solutions to Help Retailers Meet Consumer Demand for At Home Food Options
United Natural Foods, Inc. today announced it has added two new meal solutions to its offering to better allow retailers to meet the growing demand for quick, restaurant quality meals, while reducing in-store labor and the time required to create similar products on their own. The meal solutions are available nationwide to the more than 30,000 customer locations UNFI services.
The new on-trend meal solutions, a fresh meal kit from Cook•Able and flash-frozen meals from Cadence Kitchen, allow UNFI to...
Mintel Announces 2022 Global Food and Drink Trends
In Southeast Asia, more than 50% percent of consumers* in Indonesia, Malaysia and Singapore worry that life will not be the same as it was before the pandemic, according to Mintel Global Consumer research on the holistic consumer.
A period of time that saw lockdowns, food panic buying and homes becoming offices impacted consumer behavior in a multitude of ways, including food becoming more than a source of sustenance, but also a source of reassurance. Mintel’s 2022 Global Consumer Trends explores these behavioral changes, with insight and recommendations for food, drink and...
Evo Foods and Ginkgo Bioworks Announce Partnership to Develop Animal-Free Egg Products
Evo Foods, a consumer packaged goods company creating the next generation of plant-based substitutes for animal products, and Ginkgo Bioworks, the leading horizontal platform for cell programming, today announced a partnership to develop a method for producing animal-free egg proteins for use in Evo's products.
Facing increasing consumer demand for animal-free food alternatives, companies throughout the food industry are searching for optimal animal protein replacements that can seamlessly supplement consumer tastes. Current egg substitutes have limitations in their ability to replicate...
Sales of Food Preservation and Storage Products Grow by Double-Digits As Consumer Demand Increases
With 86% of meals sourced from home, food inflation at a 40-year high, the average U.S. household wasting $1,866 of food each year*, U.S. consumers are storing food and leftovers to stretch their food dollars and meals while reducing food waste. The return to worksites and schools and more extracurricular and outside activities has increased the need to pack food for away-from-home meals and snacks. These needs drive the demand for food storage products, reports The NPD Group. Consumers spent...
U.S. General Merchandise Unit Sales Fell 7% in April, as Retail Revenue Declined 1%, Reports NPD
As demand softens, the retail product mix needs to attract both value seekers and premium buyers
The consumer’s willingness to spend has been crucial to maintaining a healthy level of retail performance throughout the pandemic, but demand has been softening for several months. April 2022 U.S. general merchandise unit sales were 7% lower than a year ago, creating a 1% decline in sales revenue, according to The NPD Group.
“Higher retail prices have buffered demand declines but their escalation, combined with rising gas prices..."
U.S. Ports Set New Record for Imports
Imports at the nation’s major retail container ports set a new record this spring and are expected to see near-record volume this month as retailers bring in merchandise ahead of rising costs and further supply chain issues, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
“Retailers are importing record amounts of merchandise to meet consumer demand, but they also have an incentive to stock up before inflation can drive costs higher,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold...
USDA Data Reveal: Cattle Sale Revenues Grew 16% in 2021
Following two Congressional hearings on the beef and cattle markets largely focused on prices producers receive for their cattle, the North American Meat Institute (Meat Institute) today said the latest USDA annual report on livestock income clears up misconceptions about the state of cattle markets and shows cash receipts for the sale of cattle and calves increased 16 percent, from $63.1 billion in 2020 to $72.9 billion in 2021.
“As our members said in their testimony, prices are improving for cattle producers due to supply and demand reflecting..."
Rising Retail Prices Will Increasingly Test Consumers’ Appetite for Meat
Full effects of producer price inflation will become apparent in grocery meat cases
U.S. consumer demand for retail meat remains exceptionally strong despite higher prices stemming from increased production costs and supply chain limitations. However, once the full effects of producer price inflation finally hit retail meat cases, consumer demand for meat will be tested again, according to a new report from CoBank’s Knowledge Exchange.
“Retail meat prices will remain elevated throughout 2022,” said Brian Earnest, lead animal protein economist with CoBank. “The sharply higher costs for feed..."
NAMI to Senate Ag: Cattle Prices at Seven Year Highs; Reject Costly Grassley-Fischer Bill
With cattle prices at seven-year highs following record beef production in February and March as the packing sector recovers from COVID-related labor shortages and supply chain issues, the North American Meat Institute today urged members of the Senate Committee on Agriculture, Nutrition and Forestry to reject the Grassley-Fischer bill’s mandates and federal intrusion in the beef and cattle markets.
“Leading agricultural economists have determined Grassley-Fischer bill’s latest draft remains costly to producers, especially producers in Texas..."
Previewing the Executive Conference with ButcherBox Founder and CEO Mike Salguero
When Mike Salguero struggled to find clean-labeled, 100% grass-beef for his family, he took the initiative and founded ButcherBox in 2015. Six years later, the company has grown to be more than just a convenient way of obtaining meat. Through ButcherBox, Salguero is transforming the meat industry from the inside out. By taking care of animals, treating farmers with respect, and making investments in environment forward practices, ButcherBox is focused not only on doing the right thing for the folks in the supply...
Amazon Creates $1 Billion Fund for Supply Chain Innovation
Amazon will invest $1 billion into supply chain technology.
Amazon is launching a $1 billion venture investment program for logistics and fulfillment technology.
The e-tail giant’s new funding initiative, called the Amazon Industrial Innovation Fund (AIIF), is meant to advance and support innovation in customer fulfillment, logistics, and the supply chain. According to Amazon, increasing customer demand for online shopping and fast delivery led it to create the fund.
Amazon says the new fund will invest in companies that develop and provide solutions that “incrementally increase delivery...
European Commission Approves JUST Egg's Key Ingredient as Brand Plans Fourth Quarter Launch
Eat Just, Inc., a company that applies cutting-edge science and technology on a mission to create healthier, more sustainable foods, announced today that the key ingredient in its popular plant-based JUST Egg products has received approval from the European Commission. The landmark approval for mung bean protein paves the way for the launch of JUST Egg in Europe in the fourth quarter of this year.
This decision means America’s fastest-growing egg brand can enter the market in countries belonging to the European Union and...
NRF Chief Economist Says Economy Has ‘Strong Momentum’ Despite Challenges From Inflation and Ukraine
Top challenges have shifted from COVID-19 to inflation and the war in Ukraine, but the U.S. economy will continue to face uncertainties in the year ahead, National Retail Federation Chief Economist Jack Kleinhenz said today.
“While the public health situation has greatly improved, the impact of the pandemic continues to spread,” Kleinhenz said. “That ripple has extended into 2022 and includes a disproportionate impact from inflation reaching a 40-year high brought about by strong consumer demand interacting with restricted supply...”
CEOs Get Personal on Industry Challenges of Past 2 Years
Over the past two years, there have been a lot of essential discussions about the shopper journey and the important ways that grocery workers’ lives were impacted by pandemic-fueled changes and challenges at work. Industry leaders have also been in the fray to steer their companies ahead in a challenging era with hits from all sides.
“It was like getting a curveball every single day.” That was one remark from an executive who took part in the 56th Annual Food Marketing Conference in Grand Rapids, Mich., presented...
American Dairy Queen Unveils New Line of Signature Stackburgers
American Dairy Queen Corporation (ADQ), a leader in iconic treats and food, today announced the new Signature Stackburgers™ menu. Centered on cheeseburgers that deliver on consumer demand for big flavor and variety, this new menu is the most significant product rollout for ADQ in the past 20 years.
“Our hot food menu, served at our DQ® Grill & Chill® restaurants, is key to our business goal to become a balanced leader in both food and treat items. We know that means innovating and expanding our everyday food offerings, and..."
Blue Apron Adds Breakfast to Its Menu
Blue Apron adds quick and delicious breakfast recipes to its menu as the company continues to expand offerings to meet customer demand. Available to order starting today, the options are part of Blue Apron’s Add-ons offerings, expanding the product line beyond appetizers, side dishes and desserts.
“In a recent survey, over 35% of customers who participated told us that they wanted to see breakfast recipes on our menu. They asked and we delivered,” said John Adler, Blue Apron’s Vice President of Culinary.
Designed to be ready in 15 minutes or less, the...
Near-Record Import Levels Expected at U.S. Ports as Congestion Continues
Imports at the nation’s major retail container ports are expected to be at near-record levels this spring and summer as consumer demand and supply chain challenges continue to result in congestion, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
“Consumers are still spending and the supply chain is still working to keep up,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Growth rates have slowed down from the off-the-charts numbers we saw..."
Grubhub Launches Grubhub Goods Brand Nationwide
Grubhub, a leading U.S. food-ordering and delivery marketplace, announced today national availability of its branded convenience concept, Grubhub Goods. Grubhub now offers on-demand convenience delivery to diners from more than 3,000 Grubhub Goods locations across the country.
This nationwide expansion is in collaboration with 7-Eleven and follows a successful pilot in New York of more than a dozen Grubhub Goods locations offered with 7-Eleven in Manhattan. The Grubhub Goods locations with 7-Eleven reach the vast majority of Grubhub's diners nationwide and feature a selection of 7-Eleven's most...
Proposed Changes to Packers & Stockyards Act Could Harm Industry Sustainability Efforts
The North American Meat Institute (Meat Institute) today said the Biden Administration’s proposed rules for the Packers and Stockyards Act could limit the abilities of the meat and poultry industry to respond to consumer demand regarding sustainability.
“In the case of beef, farmers and ranchers produce cattle using 33percent less land, 12 percent less water, and with a 16 percent smaller carbon footprint in 2007 compared to 1977. That is an astounding sustainability success story,” said Julie Anna Potts, President and CEO of the Meat Institute...
NRF Statement on Senate Introduction of Ocean Shipping Reform Act
The National Retail Federation today issued the following statement from Senior Vice President of Government Relations David French after the Ocean Shipping Reform Act (OSRA) of 2021 was introduced in the Senate. The bipartisan legislation is sponsored by Senators Amy Klobuchar (D-MN) and John Thune (R-SD) and would modernize the international maritime transportation system.
“The sustained supply chain challenges, exacerbated by increased consumer demand during the coronavirus pandemic, have continued to impact the daily operations of retailers and the greater business community. For nearly two decades the..."
UB Consulting: Why the Rise in Egg Prices?
Mintec and Urner Barry combine to create a market leading Price Reporting Agency and Data Provider
New Retail Data Now Available on COMTELL!
How 10 of the Most-Read Stories of 2022 Capture the Year in Food
Urner Barry's Winter 2023 Reporter Issue Released; Read It Online For Free Now