RETAIL SALES TO OUTPACE RESTAURANT GROWTH PREDICTS NPD
Published July 16, 2013 in Food Product Design
Posted in News, Business, Consumer Preference, Demographic, Foodservice, Refrigerated Foods,Frozen / Refrigerated Foods, Market Research, Market Trends, Menu, Restaurant, Retail
CHICAGO—Home meal replacements or prepared foods from supermarkets, drug stores and other retail outlets will continue to capture share of the meal/snacks market by stealing visits from restaurants, according to the NPD Group. NPD’s recent food service forecast through 2022, A Look into the Future of Food service, indicates that instances of prepared food purchased at retailers for at-home consumption will increase by ten percent over the next decade compared to a four percent increase forecast for commercial food service traffic.
While there is no one age group that takes greater advantage of the prepared food offerings from retail outlets than another, the needs differ by age group, according to NPD’s A Look into the Future of Food service study. For example, adults 35 years and older are more likely than 18-34 year olds to use prepared foods from retail to meet their in-home supper needs. Retailers also met lunch-at-home interests, especially for seniors (65+). Consumers 18-24 are more inclined than others to purchase afternoon or evening snacks from retail outlets.
In terms of prepared foods purchased, younger adults are more likely than older adults to purchase pizza, hot dogs, and burgers to eat at home. Home meal replacement entrees purchased most frequently from retail outlets include chicken, pizza, and macaroni and cheese. Sandwiches are also popular.
Acknowledging the growth in the number of Baby Boomers moving into their senior years, the larger share of home meal replacement purchases from retailers will source to those age 65 and older over the next ten years, reports NPD> Prepared foods retailers are also expected to benefit from increased visiting from those in their 30s.
“Capturing visits from direct competition, like prepared foods retailers, has been the primary source for a restaurant operator’s growth over the past ten years and this will continue to be the case," says Bonnie Riggs, restaurant industry analyst, NPD Group. “Efforts to pull consumers out of their homes and back into restaurants will require touting the benefits of eating out versus staying at home and cooking or eating meals offered by home meal replacement retailers."
The National Restaurant Association reported a recent 14-month high for restaurant sales. Same-store sales and visitors on special holidays such as Mother’s Day help boost restaurant sales in general.
While there is no one age group that takes greater advantage of the prepared food offerings from retail outlets than another, the needs differ by age group, according to NPD’s A Look into the Future of Food service study. For example, adults 35 years and older are more likely than 18-34 year olds to use prepared foods from retail to meet their in-home supper needs. Retailers also met lunch-at-home interests, especially for seniors (65+). Consumers 18-24 are more inclined than others to purchase afternoon or evening snacks from retail outlets.
In terms of prepared foods purchased, younger adults are more likely than older adults to purchase pizza, hot dogs, and burgers to eat at home. Home meal replacement entrees purchased most frequently from retail outlets include chicken, pizza, and macaroni and cheese. Sandwiches are also popular.
Acknowledging the growth in the number of Baby Boomers moving into their senior years, the larger share of home meal replacement purchases from retailers will source to those age 65 and older over the next ten years, reports NPD> Prepared foods retailers are also expected to benefit from increased visiting from those in their 30s.
“Capturing visits from direct competition, like prepared foods retailers, has been the primary source for a restaurant operator’s growth over the past ten years and this will continue to be the case," says Bonnie Riggs, restaurant industry analyst, NPD Group. “Efforts to pull consumers out of their homes and back into restaurants will require touting the benefits of eating out versus staying at home and cooking or eating meals offered by home meal replacement retailers."
The National Restaurant Association reported a recent 14-month high for restaurant sales. Same-store sales and visitors on special holidays such as Mother’s Day help boost restaurant sales in general.
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