Analysts forecast, that consumers are set to be more concerned by their personal health than the cost-effective options, when purchasing food in 2023.
According to research at a GlobalData webinar entitled “top trends in food 2023” mentioned due to strike budgets and food inflation, shopping is still forecast to remain vary price- centric for consumers.
At the latter half of 2023, Global Data dubbed “Health and Wellness mega -trend” has been the most influential trend, shaping food shopping, ahead of “comfort and uncertainty” and “easy and affordable”
In the second half of 2020, from being the third most important influence of consumer purchasing decisions, went up to the first and remained there.
Even during the cost-of-living crisis, consumers are definitely willing to prioritize ingredients which will benefit their health. This indicates a consistent concern for health post pandemic, said by Katie Page, content director for consumer, foodservice and packaging practices at GlobalData.
Studied indicates that the trend of consumers is opting for proactive health choices. In other words, due to the pandemic, consumers will purchase food, which will benefit their health more, rather than for superficial benefits or vanity purposes.
Within the last few years there was a massive shift towards proactive health. So, this is much more about being healthy for yourself. By having a healthy body, you can fight against the risk of diseases.
According to a GlobalData consumer survey, 35% of global consumers are actively looking for products which will impact their health, during their grocery shopping.
Page mentioned that when consumers are food shopping, even though they focus on personal health but does not preclude the financial concern. There are times when individuals are very conscious of their spending, it is inevitable that cost-effectiveness and price points will matter.
Due to Strick budgets and rise in grocery prices, many individuals shopping habits remain impacted by price. Those individuals are trying to find the most- cost effective option, which often involves buying cheaper alternatives to there usual products and not remaining brand loyal as well as switching to cheaper retailers.
According to a survey, 58% of global consumers, are more often purchasing grocery products through online.
Brands are experiencing a heightened competitive environment, during the cost-of-living crisis. Making an online presence and digital shopping experience a significant resource for competitive advantage.
