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In 2024, foodprices have been high and consumer spending has been stretched thin, making it even more difficult for restaurants to attract new customers. Restaurants succeed or fail based on loyalty, which is a direct result of customer experience.
Highlights from this year’s study, which surveyed more than 1,100 consumers in November of 2023, included: Gift Card Spend Returning to Normal – Consumers said that gift card spending is bouncing back, with 69 percent of consumers purchasing the same amount of gift cards or more in 2023 compared to 2022. percent in 2023.
Consumers Don’t Want Cheap Plant-Based Meat and Dairy – Food Navigator Conventional wisdom would suggest if a product is priced lower, consumers would be more willing to purchase it. But when it comes to plant-based, Europeans are bucking the trend.
” Frequent users adjusted their purchase behavior. ” Safety, hygiene and the food supply chain. Respondents across all countries said their top food-related concerns were: safety and hygiene, access to healthy foods, and nutrition. In the U.K., In the U.S. Health and Safety is Top Consumer Concern.
However, almost three years later, the prognosis for foodprices isn’t getting any better. Bureau of Labor Statistics (BLS) reports that the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.2% again in August, continuing a pattern of increased prices since the beginning of the year. All in all, the U.S.
Key takeaways: The retail foodservice industry faces challenges around changing customer preferences and purchase patterns, supply chain issues and technology. Grocery and convenience stores must strike the right balance between price and quality to meet consumer expectations in the age of “value shopping.”
Ethical Sourcing : Food labels go beyond nutritional information. Eating Out Equals Poor Nutrition. Published in The Journal of Nutrition, the study analyzed the dietary selections of more than 35,000 U.S. Published in The Journal of Nutrition, the study analyzed the dietary selections of more than 35,000 U.S.
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