In an ever-evolving landscape of consumer preferences, SupplySide West 2023 is expected to reveal the top three trends influencing what Americans put on their plates and in their shopping carts. As we navigate through the changing tides of consumer behavior, the ColinKurtis team delves into these trends that are set to redefine the food, beverage and nutrition industries.
#1: Cost-Consciousness
The price tag matters more than ever, especially when trips to the grocery store or restaurants have become budget-busting affairs. A whopping 76% of consumers confessed that prices are dictating their purchasing behavior, making it clear that consumers are tightening their wallets.1
- Economical Alternatives: Consumers are opting for budget-friendly brands, off-brands or even skipping certain purchases altogether
- Health Sacrifices: Alarmingly, 28% of consumers admit to making less-healthy food choices due to cost constraints1
#2: Values-Based Shopping
On the other hand, 72% of Americans think it’s important to buy from companies that reflect their values.2 These values-oriented shoppers are conscientious consumers who prioritize larger ideals such as label claims, ingredient sources, special diets, functional ingredients and sustainability efforts. With this category increasing, we’ve seen more better-for-you, organic or all-natural options made with these consumers in mind.
- Premium Priorities: Values-oriented shoppers are willing to pay a premium for products that align with their values
- Ingredient Scrutiny: A staggering 74% always or usually scrutinize ingredients, while 75% pay close attention to food and beverage labels3
- Certification Matters: Product certifications influence the choices of 73% of values-oriented shoppers3
For values-based consumers, shopping is more than a chore; it’s an opportunity to endorse products that align with their ethics, be it in terms of health, sustainability or social responsibility.
#3: Holistic Wellness
Today’s consumers view wellness as a multidimensional concept encompassing better health, fitness, nutrition and much more. This holistic perspective is reshaping the way people approach their health and wellness.
- Consumer Categories: Wellness enthusiasts and socially responsible consumers are the biggest spenders, while loyalists and passive participants are more conservative in their wellness investments4
- Beyond Supplements: Wellness now extends to personal health devices and even personal-health trackers, emphasizing the role of technology in holistic health4
- Food as Fuel: Consumers now demand more than just good taste from their food; they seek products that actively contribute to their wellness goals4
As we prepare to step into the future of the health and nutrition industry, these trends highlight the evolving priorities of consumers. Cost-conscious choices, values-driven purchasing, and holistic wellness are not just buzzwords; they guide consumer choices. SupplySide West 2023 is sure to be a platform where these trends are explored, debated and innovated upon, as the industry continues to evolve to meet the ever-changing needs of consumers.
Make the most out of your tradeshow appearances with ColinKurtis Advertising, the go-to marketing agency for leading brands in the food, beverage and nutrition industries. Contact Mitch Robinson at Mitch@colinkurtis.com or call 815-965-6657 EXT. 1 to learn more about our creative and strategic process for tradeshow support.
Blog post from:
Valette Piper-Bledsoe
Vice President, Client Services
Sources:
- International Food Information Council, 2023 Food & Health Survey
- https://www.retailtouchpoints.com/resources/72-of-u-s-consumers-want-brands-to-reflect-their-values
- https://www.spins.com/industry-insights/
- https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/feeling-good-the-future-of-the-1-5-trillion-wellness-market
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