Weekly Roundup – Week of 1.1.24
January 5, 2024
Happy New Year! Today’s weekly roundup highlights trends and insights forecasted for the food and beverage industry in 2024 – curated by our team of strategists and food enthusiasts:
Tune In: Spotlighting the 2024 Foodservice Forecast
The foodservice industry has experienced a series of twists and turns over the past few years. As we kick off 2024, the question on everyone’s mind is, ‘What’s next?’ To shed light on the future of foodservice, The Food Institute Podcast brings you an exclusive conversation with Lizzy Freier, Director of Menu Research & Insights at Technomic. In this enlightening episode, Freier delves into the intricate nuances of the 2024 Foodservice Forecast, unraveling key insights that are set to shape the industry. From the pulse of restaurant traffic to exploring international cuisines and LTOs, this podcast promises a comprehensive look at the trends and dynamics that will define foodservice in the coming year. Listen Now.
Big Box Stores Make Big Investments
With global supply-chain disruptions, heightened inflation, and evolving consumer behaviors, big box stores — such as Target and Walmart which feature the convenience of in-store grocery departments — have faced numerous challenges in recent years. As we head into 2024, industry experts are already identifying key trends that are set to shape the retail landscape in the coming months. From right-sizing inventory and enhancing the appeal of stores to extending in-store shopping time — in addition to adjusting overall footprints — major retail players are gearing up for strategic investments to navigate the dynamic shifts ahead. Read More.
C-Store Trends To Snack On This Year
Following a remarkable surge in sales and units in 2023, snacks are poised for continued growth in the convenience store sector throughout 2024. According to Circana, C-Stores now command a 20.4% share of all snack sales, a notable increase from 18.8% just three years ago. C-Store Dive highlights four key trends set to shape snacking behavior, featuring flavors with a familiar twist and the rise of high-protein snacks. Find all four, here.
Starbucks Extends Personal Cup Discounts to Drive-Thru and App Orders
Your coffee, your cup, and now your discount. Starbucks is making an additional move in waste reduction by allowing customers to bring their own reusable mugs not just for in-store orders, but also for drive-thru and app orders across all company-operated and select licensed stores in the U.S. and Canada. The process is simple – customers alert staff when making drive-thru orders, while in-app users effortlessly select the option in their order’s “Customization” section. As a reward, patrons receive a 10-cent discount on their order or a 25 Bonus Star reward for loyalty members. Learn More.
Fun Fodder
Two recent campaigns have captivated audiences, creating unbelievable buzz. First up, the Kansas State Wildcats secured victory in the Pop-Tarts Bowl, scoring more than impressive touchdowns. An iconic Pop-Tarts mascot emerged from the football field during the inaugural Pop-Tarts Bowl college football, wielding a sign that read, ‘Dreams really do come true.’ The mascot then produced an edible replica of itself for the winning team to eat. The stunt generated an estimated $12.1 million worth of media exposure.
Next, Burger King launched an innovative campaign to support those battling hangovers. Through a dedicated microsite and the Burger King mobile app, facial recognition technology is used to scan a customer’s face, gauging their hangover level. There are three levels of hangovers, corresponding to a coupon for a Whopper Jr. Double, Whopper, or Whopper Double. Hangover selfies are encouraged to be shared on social media, inviting the world to partake in the morning-after revelry.
Make sure to stop back weekly for more roundups, industry news, and business-building strategies.
