FMCG Gurus -FMCG Gurus – Re-evaluating Convenience Food in a Cost-of-Living Crisis – Global Report – 2023

FMCG Gurus – Re-evaluating Convenience Food in a Cost-of-Living Crisis – Global Report – 2023

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FMCG Gurus – Re-evaluating Convenience Food in a Cost-of-Living Crisis – Global Report – 2023

 Geographies: Global  Industries: Consumer Insight, Cost of Living and Price Sensitivity  Published Date: 2023

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FMCG Gurus – Re-evaluating Convenience Food in a Cost-of-Living Crisis – Global Report – 2023

Report Description

This report explores consumer attitudes and behaviors towards convenience food in a cost-of-living crisis. The report offers insight into recessionary spending and consumers’ challenges and behaviors around this. Our findings explore the consumer perceptions around convenient and economical alternatives, as well as looking into new opportunities for convenience food. Our findings reveal actionable recommendations for brands in the food and drink market when targeting consumers.

This report will look at the following areas:

  • Consumer confidence regarding the state of the economy over the next twelve months.
  • The food and drink items that consumers have noticed increased in price.
  • The types of products consumers are reducing their spending on.
  • Insight into the convenient and economical alternatives that consumers have adopted.
  • The product attributes which appeal to consumers and enhance a products value for money.
  • Notions of escapism and nostalgia associated with certain food products which consumers are turning towards during this financial period of uncertainty.
  • Consumer perceptions and behaviors around different flavors and premium products.

How this will help -Re-evaluating Convenience Food in a Cost-of-Living Crisis:

  • Examine the extent to which financial pressures are influencing changing purchasing habits and driving demand for more economical options.
  • Develop strategies that challenge consumers to change their perceptions of premium and convenient offerings through emotive marketing and aligning with current need states.
  • Capitalize on changing habits in the foodservice sector by effectively promoting the concept of affordable indulgence in the at-home convenience market.

Files included in this report:

  • FMCG-Gurus-Re-evaluating-Convenience-Food-in-a-Cost-of-Living-Crisis-Global-Report-2023.pdf
  • FMCG-Gurus-Re-evaluating-Convenience-Food-in-a-Cost-of-Living-Crisis-Global-Report-2023.pptx
  • If you are a user, click here to login and download the report.

FMCG Gurus – Re-evaluating Convenience Food in a Cost-of-Living Crisis – Global Report – 2023

Report Description

This report explores consumer attitudes and behaviors towards convenience food in a cost-of-living crisis. The report offers insight into recessionary spending and consumers’ challenges and behaviors around this. Our findings explore the consumer perceptions around convenient and economical alternatives, as well as looking into new opportunities for convenience food. Our findings reveal actionable recommendations for brands in the food and drink market when targeting consumers.

This report will look at the following areas:

  • Consumer confidence regarding the state of the economy over the next twelve months.
  • The food and drink items that consumers have noticed increased in price.
  • The types of products consumers are reducing their spending on.
  • Insight into the convenient and economical alternatives that consumers have adopted.
  • The product attributes which appeal to consumers and enhance a products value for money.
  • Notions of escapism and nostalgia associated with certain food products which consumers are turning towards during this financial period of uncertainty.
  • Consumer perceptions and behaviors around different flavors and premium products.

Report Agenda and Insights available:

Recessionary Spending
  • [COL236] How confident are you about the state of the economy in the country where you live over the next twelve months? - 2023
  • [COL817] Do you believe that your household has adequate financial savings?
  • [COL947] Do you think food and drink prices have risen over the last twelve months? - 2023
  • [COL201] On what type of products do you feel prices have increased the most over the last twelve months? - 2023
  • [COL993] How affordable do you believe your food and drink shopping to be? - 2023
  • [COL186] To what extent do you agree with the following statement I/my household is actively trying to reduce spending on food and drink.” - 2023
  • [COL474] What types of products are you looking to reduce spending on? Please select all that apply - 2023
Convenient and Economical
  • [COL980] Have you become less brand loyal when purchasing any of the following types of products over the last twelve months? Please select all that apply
  • [COL893] Do you plan to make any of the following changes to your food and drink shopping habits over the next twelve months? Please select all that apply
  • [COL893] Do you plan to make any of the following changes to your food and drink shopping habits over the next twelve months? Please select all that apply
  • [COL468] Have you done any of the following in the last twelve months to save money? Please select all that apply - 2023
  • [COL893] Do you plan to make any of the following changes to your food and drink shopping habits over the next twelve months? Please select all that apply - 2023
New Opportunities for
  • [COL471] What product attributes are influential when shaping your view on whether food and drink is good value for money? Please select all that apply - 2023
  • [COL393] Over the next twelve months, do you think you will have to compromise on any of the following attributes when seeking out food and drink products? Please select all that apply - 2023
  • [COL471] What product attributes are influential when shaping your view on whether food and drink is good value for money? Please select all that apply - 2023
  • [COL028] To what extent do you agree with the following statement Over the last twelve months, I have sought out products and flavors that remind me of the past and simpler times” - 2023
  • [FCT768] To what extent do you agree with the following statement: “I like food and drink products with new and unusual/exotic flavors” - 2022
  • [FCT831] Why do you like new and unusual/exotic flavors? Please select all that apply - 2022
  • [FCT821] In what product categories do you like to see new and unusual/exotic flavors? Please select all that apply - 2022
Actions and Recommendations
  • [COL987] Have you cut back spending in restaurants and cafes over the last six months? - 2023
  • [COL406] Have you sought more premium products and treats at retailers to compensate for reducing spending in restaurants and cafes?
  • [COL198] What types of premium products and treats have you purchased more of? Please select all that apply - 2023

Files included in this report:

  • FMCG-Gurus-Re-evaluating-Convenience-Food-in-a-Cost-of-Living-Crisis-Global-Report-2023.pdf
  • FMCG-Gurus-Re-evaluating-Convenience-Food-in-a-Cost-of-Living-Crisis-Global-Report-2023.pptx
  • If you are a user, click here to login and download the report.