Weekly Roundup – Week of 5.13.24

May 17, 2024

Discover the week’s trending food and beverage-related topics – all curated by our team of strategists and food enthusiasts:

Coca-Cola Puts A New Lens On Data

The Coca-Cola Company is launching Coca-Cola Lens, a new data and insights platform aimed at sharing consumer behavior and industry trends in an accessible format. Available at Coca-ColaLens.com, it targets retailers and foodservice providers, using both internal and external data. The platform is designed to be easily navigable, offering current trends and future perspectives. It debuts with 16 thought leadership stories curated by Coca-Cola experts, incorporating a mix of proprietary and non-proprietary data sources. Learn More.

Specialty Coffee Expo Highlights Gen Z & Millennial Consumption Trends

The 35th annual Specialty Coffee Expo, North America’s largest coffee trade show, recently gathered participants from over 85 countries to discuss emerging trends such as cold brew, ube, and mushroom coffees. Younger consumers, particularly Gen Z and millennials, are driving the popularity of cold brew coffee due to its smooth, less acidic flavor and visual appeal, which they enjoy showcasing on social media. Despite its growing demand, cold brew is still featured on only about 12 percent of restaurant menus, indicating significant potential for expansion. Industry experts highlight the willingness of these younger consumers to pay a premium for these trendy and customizable beverages. Read Story.

Casual Dining Shines Despite Consumer Slowdown

Despite a general consumer slowdown, fast-casual chains like Chipotle, Wingstop, and Sweetgreen exceeded Wall Street’s quarterly same-store sales growth estimates. These restaurants are outperforming the broader industry as their higher-income customers perceive them as offering better value. According to TD Cowen analyst Andrew Charles, fast-food chains raised prices more sharply last year, narrowing the price gap between fast-casual meals and traditional fast food. Consequently, a bowl or salad from a fast-casual spot, while still pricier than a burger or chicken tenders, is now seen as a more appealing option. Read More.

Will Functional Chocolate Sweeten Sales?

Functional chocolate, a superfood known for its health benefits, might boost sales by appealing to health-conscious consumers. Rich in antioxidants, chocolate can enhance heart health, reduce blood pressure, and lower the risk of stroke and heart disease. Chris Peruzzi and Nicole Smith, co-founders of The Functional Chocolate Company, emphasize that health treatments should be enjoyable, with their products available at health-focused stores like The Vitamin Shoppe and Super Supplements. They believe that once customers realize they can address health concerns with tasty options, they’ll prefer these over traditional supplements. Read On.

Brands Have More Time To Reach TikTok Followers

TikTok is testing 60-minute video uploads, expanding from its short-form roots to compete with YouTube, the company confirmed to TechCrunch. This move allows brands and influencers to create longer content, catering to requests from creators for more time for cooking demos, recipe tutorials, and educational content. The platform aims to provide more flexibility for storytelling without requiring multipart videos and reflects TikTok’s strategy to embrace long-form content. Read Article.

Come back every week for more trends and top food and beverage-related stories!