Building Block Associates

  • Home
  • Products & Solutions
    • View Supplies
    • What's In Season
    • Manage Mie Foodservice Manager
    • Foodservice Webinars
    • Become A Member
  • Online Store
  • Social Chat Blog
    • Foodservices News
  • Contact Us
  • Careers
  • Home
  • Products & Solutions
    • View Supplies
    • What's In Season
    • Manage Mie Foodservice Manager
    • Foodservice Webinars
    • Become A Member
  • Online Store
  • Social Chat Blog
    • Foodservices News
  • Contact Us
  • Careers

Americans are Eating More Meals Away From Home, Report Finds

2/7/2018

0 Comments

 
Picture
Americans have embraced the experience of eating out, with “away-from-home” spending hitting a major milestone midway through this decade. Image: The Nielsen Company
Unlike the living room, which remains a primary destination for settling in to watch TV at the end of the day, dining rooms and kitchens across the U.S. are getting a little less use than they used to. That’s because Americans have embraced the experience of eating out, with “away-from-home” spending hitting a major milestone midway through this decade.

Also read, Millennials Spend More on Prepared Foods Than Other Generations, Study Finds.

In fact, when 2014 rolled around, Americans began allocating more than half of the money they use for food and beverages for out-of-home dining. That represented a turning point in food and beverage spending—breaking a pattern that hadn’t changed much since the 1970s. Back then, through the earlier part of this decade, Americans were allotting two-thirds of their food and beverage spend on items they would later eat at home.

Given that individual food and beverage consumption remains relatively static once we reach adulthood, the downside of the shifting spending trends for retailers is clear: the portion of dollars we spend in stores is trending downward. In fact, it dropped to 48% in 2014.

There is an upside, however: The total amount of money we spend on food is growing. The challenge for all food retailers then, is attracting a greater proportion of that total spend.

At first glance, you might think the shift is simply the result of consumers opting for restaurants over supermarkets. But it’s not that clear cut. In fact, a more nuanced look at the data shows that channel definitions are blurring, and a bevy of new options are combining the roles of the restaurant, grocer, farmer and concierge. This has led to a range of crossover and new-format competitors: the convenience store, the online restaurant delivery aggregator, the juice bar and so on.

A few years ago, these competitors were relatively insignificant in the grand scheme of things. Today, they’re taking a bigger bite out of the overall food and beverage pie—and the impact is starting to materialize. For example, the amount consumers spend with pure-play meal kit providers is growing at three times the rate of their spending with more traditional food and beverage providers.

So who’s eating what, and where?
While brands seeking growth are often quick to target up-and-coming consumer segments, it’s often insufficient to cast a net as wide as a very large group simply bracketed by age. The Millennial cohort is a good example, given the group’s size and increasing spending prowess. General knowledge about Millennials suggests that these consumers are on the cutting edge of new things, including meal kits and other online food services. But a more data-driven segmentation uncovers the real story in emerging and online food and beverage options.

Specifically, a data-driven look at purchase behavior reveals that Gen X consumers actually account for 51% of meal-kit spending. That said, however, all age groups are trying new food and beverage options.

Producing for, distributing to, or retailing in a particular channel is no longer sufficient. Nor can a company simply add channels without changing the way it does things—it's impossible to be all things to all consumers. Instead, retailers and restaurants must develop food and beverage strategies at the intersection of shoppers’ desired occasions, locations and experiences, focusing on the key combinations where they are poised to excel.

For additional insights, including a more granular look at different consumer segments, download the full  Merging Tables and Aisles report.

SOURCE The Nielsen Company
0 Comments



Leave a Reply.

    Go to blog
    Advertisement

    RSS Feed

    News & Updates

    Stay informed with the latest news around foodservice, agriculture and other related food news.

    Do you Enjoy our E-news & Updates?
    Get our foodservice E-news, blogs and LTO's sent to your inbox, SUBSCRIBE HERE.

    Advertisement Opportunities 
    To get your foodservice business in our daily e-news, here.

    Archives

    March 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015

    Categories

    All
    Agriculture And Food Safety
    All Day Breakfast Menu
    Beans Benefits
    Beverage Company
    Building Construction
    Candy Company
    Carbonated Drinks
    Chicken Farm
    Dairy Production
    Fast Food
    Fast Food Chains
    Food Prices
    Generation Z
    Genetically Modified Organisms
    Gluten Free
    Grocery Retailer
    Healthy Meals For Kids
    Imported Foods
    Imported Foods From Other Countries
    Liquor Licence
    Milk Industry
    Milliennials
    National Food Holidays
    Nut Allergies
    Organic & Natural
    Processed Foods
    Produce Industry
    Restaurant
    Restaurant Management
    Restaurant Ordering System
    Restaurateurs
    Seafood
    Sustainable Resources
    Sweet Snacks
    Sweet Tasting Desserts
    Tree Nuts
    Value Menu Offering
    Ways To Reduce Food Waste

    Picture
    Advertisement
    Picture
Powered by Create your own unique website with customizable templates.