Weekly Roundup – Week of 1.2.2023

January 6, 2023

This first roundup of the year features food and beverage industry-related predictions, trends, and new stories curated by our team of strategists and food enthusiasts:

Veganuary Has Started!

Veganuary is a non-profit organization that encourages people worldwide to try vegan for January and beyond. As reported by the global charity, one person signed up for Veganuary every 2.4 seconds on the challenge kickoff day, January 1. Furthermore, a new study conducted by YouGov on behalf of Veganuary shows that “those who are going vegan or vegetarian for their New Year’s Resolution this year feel more hopeful than those who are not (78% vs. 59%).” Manufacturers and restaurants have also adopted this New Year’s revolution, with hundreds of companies participating in Veganuary last year, “launching more than 1540 new vegan products and menu items.” The challenge is free to join, and participants have access to its celebrity eCookbook, daily emails with advice, recipes and meals, and additional support through its podcast, 31-day YouTube series, and Facebook channels. Learn More.

Retail Media Disrupts The C-Store Industry

Industry experts believe that retail media could become an important platform for growth in the convenience channel in 2023. Many retailers in other channels have retail media networks mainly due to Google shifting away from third-party cookies that advertisers would use as an audience measurement tool. “The value of retailers’ first-party data — information that customers willingly give a brand — has grown rapidly as a result, and Emarketer estimates that by 2024, more than $61 billion in digital advertising will flow through retail media networks,” as referenced in the C-Store Dive article. Individual convenience stores and big chains can use their customer data to personalize offers, drive impulse purchases, and boost their loyalty programs. In fact, 7-Eleven launched its retail media network, Gulf Media, this past October, giving the chain another avenue to reach its target customers, along with an alternative income source. To learn about other trends driving c-store growth in 2023, read the article here.

Lifestyle Bowls And A New Snapchat Lens Promote Wellness At Chipotle

According to the market research company, Numerator, “73% of consumers making resolutions focus on health goals, including fitness, weight loss, and healthy eating.” In support of this, Chipotle has developed a new Snapchat Lens and is adding Lifestyle Bowls on its menu targeted to Gen Z and millennial consumers. The lens will launch on January 13, the day called ‘Quitter’s Day’ for which many people quit their resolutions, and will feature exercise and meditation prompts. In addition, Chipotle will reward 100,000 users with free guacamole. The new Lifestyle Bowls will be only available through its digital menu as a way for Chipotle to promote its app and loyalty programs as it strives to emphasize healthy eating over diet culture. Read More.

What Trends Will Have The Biggest Impact On Grocers This Year?

Grocery Dive highlighted 8 trends experts predict will shape the grocery industry in 2023. As inflation continues to impact consumers’ funds, many will shop for value in the months ahead, pushing food retailers into competitive pricing wars with one another along with focusing on opportunities to boost loyalty programs with highly targeted offers. E-commerce is another trend that will make a resurgence in 2023, according to experts. “Grocers will continue to make e-commerce options like pickup and delivery faster, more efficient, and overall better experiences,” said Erich Kahner, director of strategy and insights for North America at Dunnhumby. Experts also expect a higher focus on overall store experiences from updating fresh departments to support local brands and businesses to upgrading in-store dining options and introducing new technology such as ordering kiosks and smart carts. Find All 8 Trends Here.

Something to Snack On

Notable brands and new flavors in the snacking industry will give consumers more to chew on in 2023. PepsiCo is slated to introduce its iconic chip brands such as Doritos and Cheetos into new snacking categories like pretzels, crackers, and beef jerky this year. Parth Raval, chief growth officer for PepsiCo Foods North America, said “we have strong reason to believe that our brands play in multiple domains, and we want to ensure that every time there’s a snacking occasion that the shopper is looking to Frito-Lay.” And seafood will make a more prominent presence in snacking, but not “fish” per se. According to Whole Foods’ 2023 food trends list, snackable sea veggies like kelp and seaweed will grow in popularity. Ready-made products such as kelp noodles and puffed kelp chips are already stocked at the retailer. Consumers are also looking for recipes they can prepare at home. In fact, Pinterest has experienced increased searches for Nori recipes, green algae, and seaweed snacks. We’ll have no shortage of snacking options in 2023, that’s for sure.

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