A roundup of consumption insights
Ever wondered why consumer trends are published every year? Well, decoding what consumers want is a tough call. And throughout our A view through the consumption lens series, we looked at consumption from a different angle, examining whether consumers prioritize the same or different things depending on when and where they are going to consume a product. In this roundup, let’s look back at what makes consumers tick in 2023 – be it at home, in a restaurant, or elsewhere.
A first look into the consumption lens
Consumers have not had it easy in the last couple of years. From frequent shifts in routine due to the pandemic to the current economic global downturn, changes have affected every aspect of life, including how they buy and consume food and beverage products. So, what is important to consumers in 2023? Does it vary among consumer groups? Are functional benefits still ruling? How important is price point?
What’s driving at home consumption?
Home is our refuge – a place to be truly ourselves. And despite the busy lives of today, comforting nourishment is a goal with most people wanting to cook, serve, and eat what’s good and delicious. So, what are the priorities for at-home consumption? Is convenience still important or are consumers ready to go creative with global tastes? Do they still prioritize conscious consumption or is indulgence the norm?
What is on with on-the-go consumption?
Eating and drinking on the go is back in full force after being taboo for some time. And consumers are again buying products, specifically targeted for on-the-go consumption. So, yes, single-serve packs are back and so is a focus on convenience. But what about factors like health benefits and sustainable considerations? Does it matter equally when people are out and about?
What is focal in food service?
The food service saw a sea change in the recent times, coming up with creative approaches to stay relevant. Now that eating out is again an integral part of our lives along with ordering takeaways, what is the scene in food service? Apart from widespread of technology even in small eateries, and food delivery continuing to rise, what else are consumers looking for? And how can food service players improve their value offerings?
The top 5 consumer priorities
Every time we eat, drink, cook, or serve up something, we make a decision, that is often a result of different considerations, including where we are at that time. We have explored the different priorities for different locations, from home to the restaurant. But what are the common considerations? Let us look at the top 5 consumer priorities across the world when it comes to food and beverage consumption.
Looking ahead
Midway through 2023, one common trend that shows up across the board is value for money. Consumers are becoming sensitive to price points but are not willing to compromise on quality. Here, offering flexibility in sizes supported by transparent communication can be key. In an earlier post, we have discussed the importance of making size matter in the right way, while guarding against shrinkflation. With multiple pack sizes, brands can target different consumer segments based on volume and price points. SIG’s wide range of pack volumes and flexible filling machines enable manufacturers to achieve this agility in their production lines as they can fill up to nine pack volumes on a single machine, taking only a few minutes to switch between volumes.
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