Weekly Roundup – Week of 4.29.24

May 3, 2024

Read the week’s most notable food and beverage news stories – all curated by our team of strategists and food enthusiasts:

Snack Innovations: A Bright Spot For Foodservice Operators

Snack innovations present a promising opportunity for foodservice operators to boost traffic and cater to changing consumer preferences. With demand varying based on mood, time of day, and convenience, restaurants are increasingly focusing on snack menus to attract price-sensitive customers and reverse traffic declines. The rise in between-meal occasions in the U.S. have led to a surge in evening snack visits, indicating a growing market for snack offerings beyond traditional mealtimes. Popular snack innovations include on-the-go desserts, handheld sandwiches, and specialty beverages, offering a diverse range of options for diners seeking quick and satisfying bites. Learn More.

Walmart Introduces Bettergoods: A New Line of Store-Brand Groceries

In a strategic move aimed at captivating the growing Gen Z market, retail giant Walmart has unveiled its latest venture: Bettergoods. This new private label grocery brand boasts an extensive lineup of roughly 300 items spanning diverse categories from dairy essentials to sauces and snacks. Scott Morris, Walmart’s Senior Vice President of Private Brands, Food, and Consumables highlighted the remarkable growth of Walmart’s private brands. “Sales of store brands are surging across all demographics at Walmart, with Gen Z emerging as a pivotal driving force,” Morris remarked. He emphasized that the younger demographic’s inclination towards brand flexibility and value prioritization are fueling a heightened interest in private-label offerings. Read Article. Free Bloomberg subscription signup may be required.

McDonald’s New Pricing Strategy Focuses On Affordability

McDonald’s CEO Chris Kempczinski announced a new pricing strategy emphasizing affordability amidst consumer inflation concerns. With a focus on providing “good price points” across all markets, the fast-food giant aims to cater to budget-conscious customers. Kempczinski noted that consumers are increasingly discerning with their spending habits, prompting the need for value-driven approaches. In response, McDonald’s will implement carefully curated pricing, invest in delivery, drive-thru, and digital platforms, and introduce larger, more satisfying menu options. Menu innovation will play a key role in engaging customers and driving growth in the near future. Read More.

C-Stores Find A Sweet Spot In Candy Category Sales

Convenience stores have seen a significant surge in candy sales, with figures reaching $8.5 billion in 2023, marking an 11.9% increase from the previous year. The appeal of chocolate and other sweet indulgences remains strong among consumers, contributing to this growth. Dan Sadler of Circana emphasizes the emotional connection people have with candy, viewing it both as a reward and a mood lifter. Additionally, the rise of private label candy has been notable as customers seek value amid changing spending habits. Read Story.

May The Fourth Be With You

Fun food fodder for the week! Embark on a culinary adventure with a tantalizing array of Star Wars-inspired delights! As the galaxy gears up to celebrate ‘May The Fourth Be With You’, leading restaurant chains are unleashing a force to reckon with, offering a delectable array of sweet and savory treats designed to charm Star Wars aficionados nationwide. From iconic names like Mrs. Fields to the innovative Datz Restaurant Group, here are a few offerings fit for a Jedi:

• Darth Taters – jumbo tater tots covered in activated charcoal (Datz Restaurant Group)
• Blaster Fire Burger – with chipotle gouda cheese, bacon, and spicy ghost pepper sauce (Denny’s)
• A Drink, Yoda Is – cocktail crafted with mezcal, spicy honey syrup, lime & orange blossom waters and jalapeño peppers as a garnish (Datz Restaurant Group)
• May the Fourth Be with You Cookie Cake – large, decorated chocolate chip cookie cake (Mrs. Fields)
• Forcecakes – blue and red cupcakes with glow-in-the-dark frosting (Dough)
• Jabba the Hummus – chickpea and hemp-seed hummus with veggies and chips (Datz Restaurant Group)

Find all Star Wars-inspired menu items curated by Nation’s Restaurant News.

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