August 27, 2015
We spend a lot of time on this site talking about changes that are playing out in the food industry in the US because, in large part, Small Food Business is based in the United States. During a recent earnings call with Kerry Group, a food manufacturing company based in Ireland, it was evident that the changes in how, where, and when consumers eat and/or make food purchasing decisions are shifting around the globe. That, Kerry CEO Stan McCarthy said, is why food companies need to have a firm understanding of what motivates their consumers.
In the call, which was published in Food Business News and other news sources, McCarthy pointed out that a quarter of all food purchasing decisions are being made for food that will be eaten that same day. Gone are the days of once-a-week shopping.
Consumers, McCarthy noted, aren’t willing to give up natural or healthful ingredients for this convenience. Now more than ever, consumers, regardless of if they are in the US, in EU, and many places in between, are no longer taking brands at face value. Instead, consumers are reading the nutritional panel and ingredients label to understand what’s really in the food they’re eating.
Ultimately, no matter where you are geographically, you need to understand that the wants and needs of your target consumer base may likely be changing. For food brands to be successful, McCarthy argues, they have to understand and embrace those changes.
- Supermarkets Changing In Face Of Consumer Demand
- It’s No Longer One Stop Shopping For Consumers
- Big Food Brands Are Struggling