Close to 70 percent of households in all income brackets said they reduced spending on entertainment and at restaurants during the past year, according to a recent survey.
Considering a new product with ethnic appeal? In a recent research report, Packaged Facts, New York, says the United States’ estimated 46 million Hispanic consumers are a powerful influence on the nation's economical buying power.
Target Corp. is “very pleased” with its stores’ food sales and plans to roll out enhanced assortments of dry grocery, frozen foods, dairy products, meat and produce in future new and remodeled stores.
Excluding beverages, the food industry still represents the biggest market for flavors and fragrances and it could post annual growth of 3.6 percent to sales of $1.9 billion in 2012.
Using coupons, eating fewer meals out, preparing more home cooked meals from scratch, and substituting private label products for leading branded items are just a few of the strategies market intelligence source Packaged Facts expects to see consumers utilize this year.
They say that speed kills. Then again, I’m convinced that the pace of change in today’s food industry - driven by technology and consumer demographics - bodes well for new business opportunities. So, in my scenario: speed thrills.
I have never been a spicy food kind of girl. Jalapenos? No thanks. Hot sauce? Never.
So,
in some ways I was surprised when I visited OSI Group’s headquarters in
Aurora, Ill., for this month’s cover story and learned from executives
there that spicy foods are hotter than ever.
Data from Information Resources Inc. (see chart) suggest that sales of nearly all refrigerated and frozen meat and poultry items have either been flat or declining.