Study reveals how consumer values influence food decisions
Taste, price and convenience are no longer the sole deciding factors when consumers buy food and beverages, according to a new study from Deloitte Consulting LLP, New York; Food Marketing Institute (FMI), Arlington, Va.; and Grocery Manufacturers Association (GMA), Washington, D.C.
The study, “Capitalizing on the shifting consumer food value equation,” found that roughly half of Americans surveyed (51%) weigh "evolving drivers"—health and wellness, safety, social impact, experience and transparency—in their purchasing decisions, in addition to the "traditional drivers" of taste, price and convenience. Moreover, this occurs regardless of demographic factors.
“Contrary to conventional wisdom, it's not just the millennials or most affluent putting these evolving drivers in the mix,” says Jack Ringquist, principal, global consumer products leaders for Deloitte. “Our research reveals that the preference for these attributes does not differ by generation, income level or region, but is pervasive across these groups. The U.S. consumer has changed in a fundamental and impactful way, and people's preferences are becoming even more fragmented than the food industry may have anticipated.”