Weekly Roundup – Week of 3.11.24
March 15, 2024
Explore this week’s most notable food and beverage-related stories – all curated by our team of strategists and food enthusiasts:
What Consumers Are Snacking On In 2024
This year’s State of Snacking report, by Mondelēz International and The Harris Poll, unveils the evolving landscape of snacking behaviors. Key findings underscore the significance of savoring snacks for taste and texture, with 85% of consumers actively engaging in this practice. Additionally, the report highlights a growing trend of snack exploration, fueled by social media influence and a desire for novelty, with a significant portion identifying as “snack adventurers.” Consumers are also increasingly prioritizing sustainability, with over two-thirds actively seeking brands that align with their values, signaling a shift towards purpose-driven snacking choices. Read Report.
Revolutionizing The Food & Beverage Industry With Generative AI
Technological advancements have continually reshaped the way companies operate and innovate. With the emergence of platforms like OpenAI’s ChatGPT and the groundbreaking text-to-video AI platform, Sora, the F&B sector is experiencing a paradigm shift like never before. Even greater capabilities beyond content creation, F&B companies will start to use generative AI to streamline their manufacturing processes including the ability to suggest alternative ingredients in real-time when one is unavailable. Analyzing trends and consumer preferences to inform product formulation and personalized nutrition is another benefit businesses will begin to leverage. Learn More.
Unwrapping The Latest Packaging Innovation Trends
In 2024, significant shifts in food packaging are on the horizon, driven by consumer demands and regulatory updates. Sustainability remains a primary focus, but emerging trends are reshaping packaging priorities, as highlighted in a report by good natured products. Key insights reveal that consolidating packaging materials from “one single source” streamlines recycling efforts and reduces waste, while “high-clarity, transparent packaging” assures freshness, addressing today’s shoppers’ top concerns. Read More.
More Restaurants Will Experiment With Dynamic Pricing
Dynamic pricing, a strategy of adjusting prices based on demand, is gaining traction in the restaurant industry, as reported by The Wall Street Journal. Traditionally employed by mobile apps and eCommerce platforms, this concept is now being embraced by restaurants. According to Labor Department data, restaurant prices have surged by 30% over the past five years, prompting establishments to explore innovative pricing models. Drew Patterson, co-founder of Juicer, a restaurant dynamic pricing company, emphasizes the importance of transparent communication with customers, particularly regarding fluctuating prices, suggesting the use of familiar promotions like “happy hour” to illustrate the concept effectively. As more restaurants delve into dynamic pricing, adaptability and clear communication will be key factors in navigating this evolving landscape. Read Article.
The Evolution Of The Corner Store
From convenience stores to mini-marts, these neighborhood hubs have long been a fixture in communities across the U.S. However, during the pandemic, their role as essential suppliers of pantry staples became even more pronounced. According to a survey conducted by the National Association of Convenience Stores (NACS), grocery sales at corner stores surged 52% nationwide. Post-pandemic, this trend shows no signs of slowing down, offering shoppers a time-saving and convenient alternative for their grocery and daily essential needs. With shorter checkout lines and the absence of post-work rush, these primarily walkable locations provide a hassle-free shopping experience while also sparing customers’ hefty delivery fees. Learn More.
Find more insights and trending stories every week in our Weekly Roundup blog series.
