The Business Insider has identified major changes in consumer behaviour that are terribly affecting major food brands. It was reported that the American family this year has completely different beliefs than in the previous generations.
An interview with Campbell Soup Co. CEO Denise Morrison and Fortune has revealed that there are four seismic changes that fuelled her biggest fear as a business leader. Her biggest fear as business leader is not able to keep up with the pace of change.
The four accelerating seismic shifts have greatly affected how consumers engage with food as said by Morrison. Identifying these can help many companies to stay afloat. So here are the four major changes and how the biggest players in the food industry are keeping up with the changes:
1. A New American Family
Campbell's Consumer and Customer Insights Department released some research on how the New American Family is defined in January. Findings include the following: The majority of households are adult-only, the average family size is shrinking and traditional gender roles are on the decline.
Campbell has launched an advertising campaign called "Made for Real, Real Life" last October. It showcased non idealized meals consumed by "families of different configurations, culture, faces and life choices."
2. Growing Health Awareness
The ongoing awareness of nutrition and desire for transparency have affected food companies this year. Many companies such as Taco Bell, Chipotle, McDonald's and Starbucks have sworn to cut artificial flavour and use organic ingredients.
Now that access to health information is made easier, consumers are now looking for healthier options.
3. An Evolving Digital Landscape
Many years ago, companies had limited channels of communications towards their market. They could only use print ads, television and radio commercials and face to face encounter.
However, companies now have limitless network of communication to choose from. More and more companies are turning to social-media networks. Companies are not only using Facebook and Twitter, but are now using Snapchat and Periscope.
4. A New Global Economic Reality
The middle class, which is the target of most food brands, are beginning to dwindle. Food companies need to adapt to this change especially in developed markets like the United States.
McDonald's for example has been offering high-end items like buttermilk chicken sandwich and gourmet burgers.
