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