Weekly Roundup – Week of 5.27.24

May 31, 2024

Read this week’s roundup that focuses on food industry events and why consumers are seeking more value in their visits and purchase decisions – all curated by our team of strategists and food enthusiasts:

Trends Highlighted At The 2024 National Restaurant Association Show

The 2024 National Restaurant Association Show showcased a dynamic array of trends shaping the industry. From the prominence of emerging technology like automation and artificial intelligence to the growing emphasis on convenience solutions, the event offered a glimpse into the future of dining. Plant-based innovations also took center stage, with notable products challenging current trends, including Daiya’s Vegan Pepperoni Pizza, Rebellyous Foods’ Alt-Chicken Products, and Prime Roots Deli Products. As the restaurant realm continues to evolve, these trends underscore the industry’s ongoing commitment to innovation and meeting changing consumer demands. Read More.

Shopper Insight: Why Consumer “Values” Are Shifting Food Purchase Decisions

In collaboration with FMI – The Food Industry Association, The Hartman Group’s latest research delves into the motivations behind consumer values and their impact on food purchasing decisions. Today’s shoppers are increasingly guided by values beyond mere cost-savings, prioritizing factors like relevance, convenience, and overall experience. The study highlights the significant role that personal health and wellbeing perceptions play in food choices, with consumers reluctant to compromise on quality. Rather than overhauling their diets, they prefer to make adjustments in how or where they shop to align with their values. This shift towards prioritizing wellness mirrors a broader cultural trend towards living well, influencing various aspects of consumers’ lives, including their approach to grocery shopping. With a notable percentage of adults actively managing their health through dietary choices and supplements, these insights underscore the profound impact of values on food consumption habits. Learn More.

Eatertainment Venues Flourish In Today’s Experience-Driven Economy

Analyzing data from Dave & Buster’s and Main Event Entertainment, reveals their impressive growth in Q1 2024. This success is attributed to factors such as heightened customer loyalty and an expanding share of late-night visits. Dave & Buster’s revamped rewards program, offering exclusive deals and incentives, along with Main Event’s diverse promotional offerings, including family-friendly deals like Kids Eat Free Tuesdays, have played pivotal roles in attracting and retaining customers. Moreover, both chains capitalize on the evening daypart, further enhancing their appeal in the dining-meets-entertainment format. Read Article.

Can Fast Food Chains Drive Traffic Back To Drive-Thrus?

Recent findings from a LendingTree survey disclose that a significant portion of U.S. consumers have experienced sticker shock when ordering fast food, with many now viewing it as a luxury rather than a routine meal option. Chains like McDonald’s and Wendy’s have reported a dip in traffic, particularly among low-income customers tightening their budgets. In response, operators are strategizing to attract customers back with value-oriented offerings and enhanced loyalty programs. With at-home dining presenting stiff competition, the fast-food industry is adapting to meet changing consumer demands in a shifting economic landscape. Read On.

2024 Food Industry Events Worth Attending

The food and beverage industry is abuzz with a flurry of conventions and conferences rounding out the year. From the Summer Fancy Food Show scheduled in New York City to the innovation hub of Newtopia Now, professionals in the industry have an exciting lineup ahead, as recapped by Food Dive. The remaining months promise a wealth of opportunities for food brands, operators and retailers to convene, discussing the latest products, technologies, and trends shaping the sector. For a complete guide to these pivotal events, explore Food Dive’s curated list, here.

Stop back every Friday for more industry news and insights!