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Technomic: Decrease in Consumer Spending Levels Off Slightly
Within the past week, it became clear that the timing and scope of the pandemic will be highly localized because of fragmented government actions and variable social distancing practices by location. This will likely lead to a geography-dependent economic recovery timeline, with early adopter states experiencing a potentially quicker return to normal compared to later adopters. This COVID-19 update from Technomic’s Foodservice Impact Monitor explores the continued effect on the industry, including consumer spending leveling off and some innovative initiatives from operators.
Unemployment claims have grown from 3 million the previous week to over 6 million in the last report. It remains to be seen if the government stimulus will be enough to counteract that...
ANALYSIS: Fresh Pork Roller Coaster
Historically in the pork market, the degree of volatility seen recently was almost exclusively earmarked for the belly component. However, as the industry reacts to the quickly evolving...
Consumer Concerns Increase After Two-Week Stabilization
The coronavirus crisis continues to explode and dominate headlines. Nearly one-third of the world is now living under COVID-19 restrictions. Most of the United States is under stay at home orders, but few states remain holdouts and some people are still not following social distance guidelines. While health is a major concern, the potential economic impact from the virus is as well.
With social distancing forcing non-essential businesses to close their doors until further notice, over 6 million initial unemployment claims were filed in the past week. That is double from the week prior. Layoffs are likely to continue, but as an initial step...
Instacart Launches New Customer Product Features as Demand for Online Grocery Surges
Instacart announced the launch of two new product features designed to speed up service and unlock more delivery windows as demand for grocery delivery continues to surge in North America. The new features - "Fast & Flexible" and "Order Ahead" - which the company has been testing over the last few weeks, increase delivery availability for customers across North America and provide more choice and convenience for customers who are moving their weekly grocery shop online.
Instacart has become an essential service for millions of people in the U.S. and Canada who are depending on the platform to safely, reliably and affordably get the groceries and household goods they need. Last week, the company saw overall customer order volume up by more than...
Survey: Coronavirus Transforms Americans' Grocery & Cooking Habits
The COVID-19 pandemic is having a profound impact on Americans' grocery shopping and cooking habits, according to a March 23 survey of more than 3,000 consumers by meal planning service eMeals. Shoppers were unable to find 40% of the grocery items on their shopping list as the gravity of the COVID-19 outbreak sent them flocking to grocery stores to stock up on food from March 18-23. Respondents also reported a 55% increase in weekly shopping spend, cooking dinner at home six nights a week, and surging online grocery use that has caused fulfillment delays because of the high demand.
"Shopping and cooking habits have clearly been impacted by the coronavirus outbreak. Short supplies at grocery stores, restaurant closings, and the need to...
ANALYSIS: A Bird’s Eye Perspective of Price Volatility
Following an historic, if not overwhelming, upward surge in retail-oriented demand patterns, chicken marketers have now found themselves contending with...
FDA Issues Temporary Policy Regarding Packaging and Labeling of Shell Eggs
The Food and Drug Administration (FDA) plays a critical role in protecting the United States from threats including emerging infectious diseases, including the Coronavirus Disease 2019 (COVID-19) pandemic. FDA is committed to providing timely guidance to support continuity and response efforts to this pandemic.
FDA is issuing this guidance to provide temporary flexibility regarding certain packaging and labeling requirements for shell eggs sold in retail food establishments so that industry can meet the increased demand for shell eggs during the COVID-19 pandemic...
NRF Chief Economist: Stopping the Pandemic is First Step to Restoring Sound Economy
In the April issue of the National Retail Federation’s Monthly Economic Review, NRF Chief Economist Jack Kleinhenz says the coronavirus pandemic “has triggered shocks” – but that the underlying economy is sound.
“How quickly the country gets a handle on containing the virus will determine the degree of the impact on the economy and how soon businesses can reopen,” Kleinhenz wrote in the report. “We expect a severe contraction, and if the nation doesn’t get the virus under control the fallout will be worse.”
Gross domestic product that was growing at a 2.1 percent annual rate at the end of 2019 is “about to go into a mandated nosedive,” according to the report. And retail sales data for March...
U.S. Plant-Based Retail Market Worth $5 Billion, Growing at 5X Total Food Sales
New data released today by the Plant Based Foods Association (PBFA) and The Good Food Institute (GFI) shows U.S. retail sales of plant-based foods have grown 11.4 percent in the past year, bringing the total plant-based market value to $5 billion.
The total U.S. retail food market has grown just 2.2 percent in dollar sales during this same period—and was flat in unit sales—showing that plant-based foods are a key driver of growth for retailers nationwide. This data covers the total grocery marketplace and was commissioned from SPINS.
The leading drivers of plant-based sales continue to be plant-based milks, meat, dairy alternatives in general, and plant-based meals. Sales of plant-based milks grew 5 percent over the past year, now making up 14 percent of...
Canada's Food Price Report: Food Prices Expected to Rise 4% in 2020
Both Dalhousie University and the University of Guelph are issuing an update on Agri-food Analytics Lab's forecast for Canada's food prices for 2020. In December of last year, it was forecasted that food prices would increase between 2 and 4 percent, with meat increasing between 4 and 6 percent.
Considering the coronavirus pandemic, the analytics lab does not believe the overall forecast for food prices in 2020 will change. According to the update, food prices are expected to increase by no more than 4 percent, as predicted in December 2019. However, retail and processing sectors are under pressure to change food safety practices, to make customers feel safer. These new protocols will require...
ANALYSIS: Pork Bellies Collapse to 1999 Levels
The last time pork bellies were trading at this level, you were probably more concerned with Y2K than what to do with excess bellies. We’re forced to turn the history books back to 1999 to see...
Kroger Provides Business Update Related to COVID-19
The Kroger Co. filed its annual report on Form 10-K and announced business updates in response to the impact from the novel coronavirus.
"Kroger's most urgent priority is to provide a safe environment for associates and customers, with open stores, comprehensive digital solutions and an efficiently-operating supply chain, so that our communities have access to fresh, affordable food and essentials," said Rodney McMullen, Kroger's chairman and CEO. "We are so proud of our dedicated associates who are on the front lines serving our customers when they need us most. A huge thank you to all of our associates, whose efforts are nothing short of heroic."
After experiencing strong sales in February, the COVID-19 pandemic triggered a significantly greater lift in...
Performance Food Group Announces Partnerships and Corporate Actions
Performance Food Group Company announced several new partnerships and corporate actions to strengthen its business during the novel coronavirus pandemic.
“As we all adapt to the COVID-19 pandemic, our company is in a crucial position to keep our country’s food supply chain strong,” said George Holm, PFG Chairman, President & CEO. “We are proud of the tremendous effort and dedication shown by our talented associates who are working tirelessly to keep people fed during this time. In addition to working with our existing customers, we have formed several new partnerships, brought in new business and shared many of our associates with organizations that are experiencing labor shortages. PFG is also diligently assessing and managing how we spend our capital so that we are in the best financial position possible. With our new partnerships and...
Asian Consumers Are Rethinking How They Eat Past COVID-19
Consumers across Asia have signaled their eating habits may change permanently once the world moves beyond the impact of the novel coronavirus (COVID-19). In an exclusive Nielsen study of 11 Asian markets, only Japanese consumers say they are less likely to change their eating habits as a result of the global pandemic.
The study, the first in a wave of Nielsen explorations underway across 74 markets, indicates that consumers in Chinese mainland, Hong Kong, South Korea, Malaysia and Vietnam will rethink and re-prioritize the place eating at home has in their lives. In Chinese mainland, 86% said they would eat at home more often than before the outbreak. In other markets, a similar trend was observed with 77% of consumers in Hong Kong planning to eat at home more often than...
Retail Fresh Produce Demand Soars, but Landmines Remain During Coronavirus Pandemic
The COVID-19 situation has created a surge in fresh produce demand in retail grocery, but challenges around foodservice, logistics, macroeconomics, and labor availability pose ongoing threats. While fresh produce sales through foodservice channels have largely dried up, consumers continue to stock up on grocery items, including fresh produce.
Logistics have been strained, both globally and domestically, but the industry is adapting rapidly. The imminent global recession and rapid climb in the value of the US dollar will continue to threaten global demand, even after the virus is contained. Labor availability constraints and increases in...
ANALYSIS: Assessing COVID-19’s Initial Impact on the Chicken Market
Although COVID-19 is a relatively new challenge here in the US, its acute and unparalleled impact on spot market dynamics cannot be overstated...
FSIS Loosens Labeling Enforcement, Allows Foodservice Items Easier Access to Retail
The United States Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced labeling flexibilities for products that were initially intended to head to the foodservice sector but have been rerouted for retail establishments.
FSIS broke down three situations which describe how product can move to retail with certain labeling deviations. These new allowances only apply to product that has already undergone production.
Product that is being produced is expected to meet all requirements.
Labeling at a Federal Establishment
Products made at a Federal establishment intended for HRI...
Industry Reacts to Senate Passage of the Coronavirus Stimulus Package
The $2 trillion coronavirus stimulus package is expected to pass in Congress. The Senate passed the legislation Wednesday evening and the House is set to vote today. The bill includes $250 billion to make unemployment insurance available to more categories of workers and to extend the duration of benefits. About $150 billion will go to states, distributed according to population size. Another $349 billion will be used as loans for small businesses.
Matthew Shay, President and CEO of the National Retail Federation, said, "Companies that were investing, growing and contributing to a vibrant economy just a few weeks ago have been thrust into survival mode through no fault of their own." The Federation spoke on behalf of the retail industry in a press release by expressing appreciation for the efforts by leaders in Congress and President Trump to...
ANALYSIS: Heightened Buyer Urgency Contributing to Reduced Turkey Stocks
Despite the pre-occupation with COVID-19 and its impact on the global protein markets as a whole, turkey freezer stocks are providing...
Coronavirus Cases Continue to Impact Foodservice and Retail
Cases of COVID-19 are continuing to surface as the virus spreads and more tests become available. States across the country are still enforcing restrictions and guidelines, encouraging people to social distance.
Retailers have gone from limiting hours to closing completely until further notice. Grocery stores are struggling to keep shelves stocked as consumers continue to panic buy and stockpile essentials. Amid all the hysteria, restaurants are creatively finding new ways to serve guests and generate income.
As of March 18th, the National Restaurant Association predicts that the foodservice industry could lose up to $225 billion and 7 million jobs. Mandatory restaurant closures have caused...
Meat Sales Surged 77% the Week of March 15 Amid Growing COVID-19 Cases
The week ending March 8 saw a fast acceleration of meat sales in dollars, units and volume. As the number of school closures, social distancing guidelines and other COVID-19 related measures significantly sharpened the subsequent week, sales surged along with it. Thanks to the heroic efforts of everyone in the meat and poultry industry, the supply kept flowing. Retailers restocked their meat cases again and again as shoppers across the country stocked up on meat and poultry to feed their families nutritious meals.
Meat department sales without deli meat were up an incredible 76.9% over the week ending March 15, 2020 versus the comparable week in 2019, according to data insights firm IRI, and deli meat sales advanced...
ANALYSIS: Shell Egg Prices Soar to Record High Levels as COVID-19 Demand Persists, Inventories Drop
U.S. shell egg prices soared to fresh all-time highs today, as retail demand continues to come in at levels never-before seen due to COVID-19. The early round of buying witnessed a few weeks ago was...
Instacart Announces Plans to Bring on 300,000 New Personal Shoppers Over the Next 3 Months
Instacart announced plans to bring on an additional 300,000 full-service shoppers over the next 3 months to meet the growing customer demand for grocery delivery and pickup in North America. Instacart has become an essential service for millions of customers who are relying on the platform to get access to the groceries and household goods they need in a safe, reliable and affordable way.
In the last few weeks, the company has seen order volume grow by more than 150% year-over-year, with average customer basket size also increasing by 15%. By more than doubling the size of its full-service shopper community, Instacart will be better positioned to meet this increase in...
How Grocery Stores Are Responding to the Coronavirus Outbreak
Grocery stores are struggling to keep products on the shelves as Americans hunker down amid the coronavirus (COVID-19) outbreak. Prior to multiple states announcing “stay home” or “shelter in place” measures, people flocked to supermarkets to stock up on essentials. COVID-19 triggered “panic buying” across the U.S., with customers clearing shelves of toilet paper, canned goods, frozen foods, proteins and more. Now, with many people staying inside their homes, grocery stores across the U.S. are implementing new measures.
Some stores, like Kroger, are closing down their...
Rabobank: Coronavirus' Impact on the U.S. Beverage Landscape by Channel
Rabobank breaks down how coronavirus so far has impacted the US beverage landscape by channel: off-premise and on-premise.
Off-Premise: The Storm Before the Quiet?
The most up-to-date IRI data (through March 8) shows that consumers started to boost food and beverage spending as early as mid-February. Rabobank's sources, however, indicate that there was a drastic shift in consumer behavior starting on March 11 and March 12, at which time consumers really started stocking up on essentials (in fact, the CDC recommends having at least a two-week supply of “essentials”). Reportedly, one major supermarket chain saw record, single-day sales on...
Business Groups Send Letter to White House Calling for Economic Stabilization Efforts
The National Retail Federation was among 90 retail industry trade groups that sent a letter to the White House applauding the Trump Administration and House and Senate leadership for their efforts to protect public health and minimize the economic impact of the coronavirus pandemic.
The letter states, “The economic harm from social distancing and mandatory store closures is real. Layoffs and economic hardship will surely follow, particularly for smaller, specialty retailers and brands. The biggest single issue facing the industry right now is liquidity, and federal stimulus efforts must be swift and flexible enough to address the urgent need for access to credit to keep these businesses afloat.”
The retail industry, and the associated suppliers they support, are suffering cumulative losses that amount to tens of billions of dollars every week. As the nation’s largest...
States are Enacting Shelter-in-Place Policies—What Does it Mean for the Food Industry?
On Thursday, California issued what’s known as a “shelter-in-place” policy, putting further restrictions on residents in order to curb the spread of COVID-19. The measure has been echoed in other states like Pennsylvania and New York, with many other states anticipated to follow suit. The new rules come after the death toll surpasses 200 in the U.S.
But what does it mean exactly?
The directive essentially mandates that people stay home and practice social distancing, while all non-essential businesses are closed. Residents can still go outside and may travel to procure essentials like food and seek medical care.
“Everyone is required to stay home except to get food...
Sysco Gives Update on Covid-19 Related Business; Donating 2.5 Million Meals Over Next 4 Weeks
Global foodservice distribution company Sysco has released an update on their finances related to the coronavirus (Covid-19) pandemic. According to the company, their “strong balance sheet provides meaningful financial flexibility for the company to navigate current challenges in the ‘food-away-from-home’ market resulting from the spread of Covid-19 and subsequent actions taken across the country to increase social distancing.”
Sysco reports that they have approximately $2 billion cash on hand as of March 20, including a recent...
Protein Distributors Pivot to Direct to Consumer Model as Coronavirus Impacts Foodservice Sector
Outside of the box thinking from protein producers and distributors have led companies to pivot to a direct to consumer business model as the coronavirus halts the foodservice sector.
One company making headlines is Premier Meats. Located just outside of Los Angeles, California, Premier Meats has opened up its doors to the public for the first time. The company is selling its products which typically head to restaurants in the city, straight to local consumers.
Urner Barry market participants have reported following similar paths as Premier Meats to try and find a home for product. From providing pick up points at their facilities to offering...
ANALYSIS: An Historical Look at Q1 Boneless Breast Performance
It almost goes without saying that the widespread impact of COVID-19 has left most food-oriented businesses scrambling to adapt to the rapidly developing and unpredictable swing in demand patterns...
Coronavirus Outbreak Leads to Rise in Concerns Among Consumers
Datassential has released its latest wave of coronavirus research, and as the virus continues to dominate headlines, consumers' concerns have grown. Retail shelves have been wiped clean of food and supplies, gatherings have been discouraged or cancelled, and restaurants are facing mandatory closures.
In just the past four days, concerns have risen significantly among consumers. With the acceleration of the coronavirus news cycle, about 71% of Americans now consider themselves “very familiar” with the situation, which is a jump of 13 points in half a week. Americans' personal concern for exposure is up by 8 points. As of this past weekend, 49% of consumers are “very concerned” about the risk and expressed huge concern for...
ANALYSIS: COVID-19 and the Pork Market
Analyzing a situation at the beginning or in the middle of a market-moving event is never an easy task, and with Coronavirus, this fact rings truer than ever. In truth, it has not been that long since...
JUST Expands Partnerships Globally, Raises Capital & Adds Former Coca-Cola Executive
JUST announced a host of partnerships to manufacture and distribute its JUST Egg across North America, Latin America, Europe, and East Asia. This global infrastructure, which includes millions of additional points of potential distribution and access to production facilities on multiple continents, will provide the scale needed to meet the increasing worldwide demand for the product.
Included in this partnership announcement are South Korea’s food company, SPC Samlip; one of Southeast Asia’s largest food companies, Betagro Group; bakery company, Grupo Bimbo; one of Latin America’s largest edible oil and fat producers, Alianza Team; and local delivery platform, Delivery Hero. This infrastructure builds on a previously announced manufacturing and distribution partnership with...
Emerging Consumer Demands Lead to Increasing Role of In-Store Technology
According to Nielsen, brick and mortar retail may be preparing for a resurgence. Consumer demands are pointing to an increasing role of technology in stores. Investments in in-store technology spiked nearly 60% to $3.7 billion in 2019. Research also forecasts that digital natives will open another 850 physical stores by 2023.
Trends for fast-moving consumer goods may follow, as consumers have never been more receptive to technology than they are currently. Approximately 64% of consumers claim their lives are getting busier, providing...
Coronavirus to Impact Eating Behaviors Across Multiple Sectors
According to recent research from Datassential, the coronavirus will impact consumers' eating behaviors across multiple sectors. While it is impossible to predict precisely how the virus will spread, insights can be shared as to how consumers will react.
Restaurants are vulnerable to dramatic traffic declines. Coronavirus has led to nearly 60% of consumers expressing concern about eating out, with one in five "definitely" avoiding doing so. The fear is most significant among parents, urban dwellers, and higher earners. Datassential predicts that if the situation worsens, family dining and kids meals will be the most impacted, particularly for restaurant brands located in city centers. About 20% of those surveyed would...
Grocery Stores Start Cutting Hours and Limiting Quantities as Coronavirus Incites Panic Buying
Consumers are flocking to supermarkets and stockpiling supplies in preparation to quarantine due to the coronavirus outbreak. Some of the largest grocery chains are announcing measures to maintain supplies and keep stores clean. Across the country, toilet paper and canned foods are being completely bought up as cases continue to rise.
Now, grocers are beginning to cut hours and are limiting sale quantities per customer on items that are in high demand.
Walmart is taking preventative measures to keep stores clean and maintain a healthy environment. The retailer is also pursuing easier ways to sanitize shopping carts, and are evaluating whether to modify store hours at some 24-hour facilities to allow for additional cleaning. Walmart said in a press release that they will be working to...
ANALYSIS: Keeping Tabs on YoY Chicken Prices
With Q2 just around the corner, we thought it would be a good opportunity to gain some perspective on the YoY performance of some key items within the chicken complex...
Coronavirus Leads to Panic Buying, Stockpiling at Retail Locations Across the U.S.
Check the local supermarket, head straight to the aisle with the soap, hand sanitizer and other cleaning supplies. Nothing remains.
As COVID-19 (coronavirus), continues to spread throughout the United States, consumers have begun to panic buy and stockpile on cleaning supplies and “quarantine food.”
As cleaning supplies are flying off the shelves, non-perishables and other food items are also seeing plenty of action as Americans gear up for an extended stay at home.
Like an incoming snowstorm or weather event, Americans have loaded up shopping...
Daring Launches Plant-Based Chicken at Sprouts Farmers Market Locations Nationwide
Daring Foods has announced its first retail partnership with healthy grocer Sprouts Farmers Market.
Starting today, 10-ounce pouches of original Daring pieces will be available for $9.99 at more than 340 Sprouts Farmers Market locations across the country. Daring is gluten free and includes 20 grams of protein per serving. This milestone offering is the first non-breaded, plant-based chicken alternative to be introduced at Sprouts.
"With this launch, we are excited to bring Daring pieces to dinner tables across America," said Ross Mackay, Co-Founder and CEO of Daring Foods. "Daring is leading the charge as...
Weis Markets Reports Results for 2019 and Fourth Quarter
Weis Markets reported total sales of over $3.5 billion for the 52-week period ended December 28, 2019, up 1.0 percent compared to the same period a year ago, while annual comparable store sales increased 1.5 percent. Income from operations increased $2.0 million, or 2.4 percent to $84.6 million over the same period in 2018.
The Company's net income for fiscal year 2019 increased 8.4 percent to $68.0 million compared to $62.7 million in 2018 while earnings per share for the same period increased $0.20 to $2.53 per share.
The Company's 2019 sales and comparable-store sales continued to benefit from investments in its Low, Low Price (LLP) program which offers price reductions on 7,000 private-brand items. The Company's sales also benefited from...
Beyond Meat Announces National Retail Launch of Beyond Breakfast Sausage
Beyond Meat announced its latest product innovation, Beyond Breakfast Sausage, will start to hit retail shelves by the end of March. Beyond Breakfast Sausage is a new plant-based breakfast sausage featuring 11 grams of protein per serving.
Available in two flavors, classic and spicy, this breakfast option offers the taste of traditional pork breakfast sausage.
Perfect for busy mornings, Beyond Breakfast Sausage is a quick and convenient plant-based option that goes from...
SpartanNash Promotes Thomas Swanson
SpartanNash announced the promotion of Thomas E. Swanson to Executive Vice President and General Manager, Corporate Retail.
Mr. Swanson was named Senior Vice President and General Manager, Corporate Retail in October 2018, responsible for leading the corporate retail business unit for all corporate retail banners and Quick Stop fuel and convenience centers. Mr. Swanson’s energy and passion for retail have been instrumental in SpartanNash’s success. His impact has resulted in positive retail comparable sales for the last two quarters. Mr. Swanson also has overseen the transition and integration of more than...
Hormel Launches Pepperoni Cup N' Crisp
The makers of Hormel Pepperoni announced the launch of Hormel Pepperoni Cup N' Crisp, a premium pizza topping uniquely crafted to cup and crisp, bringing high-quality restaurant flavor to kitchen tables everywhere.
Unlike traditional lay flat pepperoni, Hormel Pepperoni Cup N' Crisp curls into a bowl shape as it cooks to crispy perfection. Also known as "roni cups" or "cup and char" pepperoni, Hormel Pepperoni Cup N' Crisp provides an experience that no other retail pepperoni can provide.
"Few things satisfy your senses and capture your attention more than a pepperoni pizza fresh out of the oven," said Shane Ward, Hormel Pepperoni brand manager. "Hormel Pepperoni Cup N' Crisp is intensely flavored and...
Nielsen: Opportunity Looms to Chinese Retailers Despite Epidemic Outbreak
Nielsen closely tracked the latest developments in the retail industry and released the report titled "COVID-19 is a Challenge, but also an Opportunity, for China's Retail Industry."
The research involves key retail companies and over 10,000 traditional grocery stores, and offers in-depth analysis of the retailers' challenges and responses to the outbreak, as well as the changes and opportunities the sector will face once the epidemic is over.
The outbreak of the novel coronavirus epidemic at the beginning of 2020 has adversely influenced China's retail industry, especially the brick-and-mortar retailers. But some retailers, who got well prepared and...
Research and Markets: Global Online Grocery Market Outlook
Despite the origins in the late 1990s by Tesco, despite Ocado, despite Peapod, despite Amazon's acquisition of Whole Foods, despite Walmart's investments, despite the French drives pioneered by Chronodrive (Auchan) online grocery has still not been solved.
So where is online grocery going?
Grocery stores are more and more seeing a transformation towards becoming hybrids for pick up/delivery and shopping and often foodservice too. Especially players such as Freshippo or JD.com stores in Asia have been at the forefront of this development, but this is not really groundbreakingly new for the West either. In the US all the major grocers are rolling out...
Walmart Adds Grocery to Flagship App
For years, Walmart has had two mobile apps: the Walmart app and the Walmart Grocery app. Customers navigate both apps, but would like an easier way to shop without having to switch between the two.
The company is excited to announce its adding Walmart Grocery to the flagship Walmart app. Now, customers can access everything Walmart has to offer in one, definitive experience – the Walmart app.
Here’s what the updated Walmart app offers...
Kroger Delivers on Key 2019 Commitments
The Kroger Co. reported its fourth quarter and Fiscal Year 2019 results and will update investors on how the Restock Kroger framework is repositioning the company to create value for shareholders, customers and associates.
Comments from Chairman and CEO Rodney McMullen
"We are pleased with our 2019 results and improving trends in our supermarket business. We delivered on our commitments for ID sales without fuel, adjusted FIFO operating profit, and cost savings in addition to generating over $100 million of incremental operating profit through alternative profit streams in 2019. We also delivered strong adjusted free cash flow during...
Technomic’s Take: COVID-19, The Foodservice View
The coronavirus (COVID-19) has become a familiar part of our lexicon in a very short period of time. Since its appearance in Wuhan, China, in late 2019, world and government agencies are fearful that the COVID-19 outbreak could turn into the world’s most severe pandemic since the H1N1 influenza of 1918. As of March 4, more than 93,000 coronavirus cases have been confirmed, resulting in over 3,000 deaths.
China represents more than 85% of the cases and about 95% of the fatalities, however, the virus has spread to over 73 countries and territories and the number of cases outside of China is growing at concerning rates. The outbreak is expected to have a major impact on an already tenuous worldwide economy, with economists recently downgrading global GDP expectations anywhere from...
Nielsen: "Pandemic Pantries" Pressure Supply Chain Amid Coronavirus Fears
Consumers around the world are actively stockpiling emergency supplies as concerns grow that the Novel Coronavirus (COVID-19) could become a worldwide pandemic. They’re also starting to think beyond emergency items, such as basic foodstuffs, including canned goods, flour, sugar and bottled water. Concerns are having a ripple effect into non-food essentials as well. In the U.S., sales of supplements, fruit snacks and first aid kits, for example, are all on the rise.
Nielsen’s initial investigation across major countries around the world has found significant spikes in the hoarding of emergency supplies is occurring in China, the U.S. and Italy, where consumers are rushing to...
Applegate Unveils New Product Line Launching Spring 2020
Applegate, makers of the nation's leading all natural and organic meat products, introduces new product extensions to its portfolio this spring and unveils Applegate Well Carved, a new line designed to satisfy conscientious consumers who are being mindful of their meat intake and its nutritional, ethical and environmental impact. The new, chef-crafted Well Carved burgers and meatballs combine meat with whole organic vegetables, legumes and grains, and continue the brand's mission – Changing The Meat We Eat.
"People love meat and they aren't going to simply stop eating it, nor should they have to, regardless of how many highly processed soy or pea-based burgers you put on the market," said John Ghingo, president of Applegate. "Well Carved offers an easy way for consumers to...
New Plant-Based Protein Brand OZO to Debut Nationwide this April
New plant-based protein brand OZO, powered by start-up Colorado business Planterra Foods, is making its debut at grocery stores nationwide beginning in April, providing consumers with a clean protein option that delivers exceptional taste and nutrition. Where superior taste meets convenience, OZO is raising the bar on plant-based protein offerings for today's consumer who doesn't want to compromise flavor to eat well.
The new line of plant-based products will officially launch with Burgers, Ground, Mexican-Seasoned Ground and Italian-Style Meatballs, and foodservice and club packs are also planned for 2020. The four OZO protein offerings are non-GMO, do not contain soy, and feature transparent, straightforward...
Lightlife and Field Roast Bring More to the Table with New Plant Based Breakfast Sausages
Greenleaf Foods is transforming the growing breakfast category with a nationwide retail launch of three plant-based breakfast sausage products from its Lightlife and Field Roast Grain Meat Co brands. The new, innovative products were created to continue the brands’ common goal: to pioneer the plant-based category by putting plants at the center of the plate.
“Breakfast is an important part of the day, and until now, there has not been many plant-based protein options available,” said Dan Curtin, president of Greenleaf Foods, SPC. “We’re reinvigorating the plant-based breakfast space with new delicious items from Lightlife and Field Roast.”
Lightlife is introducing Plant-Based Breakfast Sausage Links and Plant-Based Sausage Patties that offer...
NRF Says Consumers Continue to Drive Economy, Forecasts Retail Sales will Grow
The National Retail Federation today forecast that retail sales during 2020 will increase between 3.5 percent and 4.1 percent to more than $3.9 trillion despite uncertainty from the lingering trade war, coronavirus and the presidential election.
“The nation’s record-long economic expansion is continuing, and consumers remain the drivers of that expansion,” NRF President and CEO Matthew Shay said. “With gains in household income and wealth, lower interest rates and strong consumer confidence, we expect another healthy year ahead. There are always wild cards we cannot control like coronavirus and...
7-Eleven Expands Evolution Store Concept to Washington, D.C. and San Diego
7-Eleven, Inc. has scaled its Evolution Store concept following the successful opening of its beta store in Dallas last March. These Evolution Stores serve as real-time experiential testing grounds where customers can try the retailer's latest innovations in new store formats. Both stores include a Laredo Taco Company restaurant.
"7-Eleven's mission is to give convenience customers what they want, when and where they want it," said 7-Eleven President and Chief Executive Officer Joe DePinto. "Our evolution stores bring outstanding innovation to life through new food and beverage platforms as well as...
Nielsen: It's Time to Think Omnichannel Shopper, Not Just Omnichannel
There’s no shortage of omnichannel chatter across the retail landscape, and that chatter has been building for quite some time. But now that 44% of American households are actively buying food both on- and offline, the industry needs to focus more on the consumer and less on the physical channel.
As online capabilities have grown, the industry has largely concentrated on developing capabilities to facilitate shopping from all angles. The companies that now have those infrastructures in place are well-poised for success. That’s because at the end of 2019, more than 54 million U.S. households had transitioned to true omnichannel shoppers. That’s up 14% from just two years earlier, and it means that it’s time to put the consumer—not the channel—at the center of the equation.
It’s possible that some market observers might have—not too long ago—believed that shopping would largely migrate online. Today, that mindset would most certainly be...
Cargill Launches Plant-Based Patty and Ground Products
Retail food and foodservice businesses can now capture their share of the growing plant-based protein market under their own brands thanks to Cargill. The global food and agriculture company today announced its new private label plant-based patties and ground products will hit retailers and restaurants in early April.
The new offerings are part of Cargill’s inclusive approach to the future of protein – advancing both animal and alternative protein products to meet the expected 70% growth in global demand for protein over the next 30 years.
The plant-based protein products, which were developed through culinary insight, extensive consumer research and innovation, are made in...
SpartanNash Announces Fourth Quarter and Fiscal 2019 Financial Results
SpartanNash reported financial results for its 12-week fourth quarter and 52-week fiscal year ended December 28, 2019.
Fourth Quarter Fiscal 2019 Highlights
American Egg Board Introduces Made with Real Eggs Seal
People want to know and understand what is in the food they eat. To help restaurants and food manufacturers give consumers confidence in their products, the American Egg Board (AEB) has introduced the new Made with REAL Eggs certification seal to easily communicate their food products are made of genuine eggs.
Additionally, new research shows that when consumers know a product is made with real eggs, the value of the product increases. More than 80 percent of those who buy egg products said seeing the Made with REAL Eggs seal would positively influence their purchase decision. The seal also gave consumers confidence that a manufacturer's brand was of high quality (82 percent) and that a product would taste better (80 percent).
"Eggs are recognized as one of nature's most perfect foods, and one of the most popular foods among Americans today. In fact, consumer demand for eggs and egg products has reached...
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