As consumers increasingly crave healthier foods, brands are responding through fresh ingredients, sourcing and flavors, with much of the industry’s growth coming from smaller, independent brands. Rich Zeldes, EVP Managing Director at Women’s Marketing, visited four CPG summits that showcased how the entrepreneurial spirit is still alive when it comes to keeping it clean and green in food. California’s Lincoln Consumer Conference and Imperial Consumer Summit, as well as New York’s Project Nosh and Foundermade conferences proved that the food industry in particular is still being disrupted in many meaningful, healthy ways that consumers are reacting positively to. That means brands are listening to consumer needs, paying attention to the trends and adjusting to fit as needed. Rich shared a few key food trends worth noting:
Although Millennials may have less disposable income than the generations preceding them, simply profiling this consumer by income may not be the best strategy. While their predecessors may have been status seekers, Millennials view luxury differently. Quite simply, Millennials don’t buy luxury goods to impress others, they buy premium products because they believe they are better. Researchers found that today’s luxury retail consumer tends to be younger, urban, and well-informed about the brands she buys. Discover how this consumer learns about luxury brands, when she’s most apt to buy, and the influencers that matter most.
American consumers are feeling cautiously optimistic about the economy, but more important, they are feeling upbeat about their own financial situation. One third of Millennials and more than a quarter of Gen X’ers believe they will be financially better off a year from now—an increase of 14% and 4% respectively in just one year. When consumers are feeling secure about their financial situation, they are more likely to splurge. In our infographic, we look at how these trends are impacting consumers, how they plan to spend their extra income, what they’re willing to spend money on – and what they’re not.
Amazon has forever changed the retail landscape. Today, 37% of Americans say they shop less often at a retail store due to Amazon and 85% of Prime members visit the site at least once a week—in fact, 10% of those consumers say they only shop on the e-commerce platform. In our infographic, we look at how consumers discover brands on Amazon and why having an optimized search strategy is essential.