During the COVID-19 pandemic, consumer’s everyday lives were profoundly disrupted. Many consumers spent more of their time at home, and with foodservice largely restricted, most food spending funnelled into grocery retail. New routines emerged and many of these routines will remain. The market is heating up as consumers look for new kinds of convenience in the home. This is creating space for new players looking for a share of these meals moving forward.
This report comes in PPT.
In the wake of the Coronavirus (COVID-19) pandemic, with new routines built around lives that involve more time being spent at home, the greatest opportunities in meals are shifting to the home as well.
New on-demand delivery offerings are sitting alongside an existing set of scheduled grocery delivery services to create new value for stores and new kinds of convenience at home, while driving down costs for the consumer.
Emerging lifestyles that focus on the home mean more time spent at grocery stores. Grocery stores remain the default sources for food purchasing and meals inspiration.
Grocery stores will serve as hubs that make existing and emerging services possible. New outlets will be more urban and more residential, and will cater to a more dynamic mix of in-store shopping opportunities and delivery fulfilment.
As food retail becomes the default meals provider for the majority of meals at home, restaurant meals will become more occasional and more special.
All food producers win – whether food retail or foodservice – by innovating around the opportunity to serve consumers at home more often in the future. New services are creating value through new realities in demand.
Consumer foodservice is composed of cafés/bars, full-service restaurants, limited-service restaurants, self-service cafeterias and street stalls/kiosks.
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