The International Dairy Deli Bakery Association (IDDBA) has released “What’s In Store 2010″, a trends report that reveals which consumer shopping trends will have the most impact in the next five years.
According to the report, the demand for low prices, health and wellbeing, convenience, sustainability, and food safety and quality are the trends to watch. The report shows current economic recession has created a domestic and global realignment. World consumption is slowing-especially in developed countries-due to a shift from consumption to savings. To differentiate products, the focus will be on real value, not perceived value.
According to the report, U.S. buying power is estimated at $10.7 trillion for 2008 and projected to $14 trillion for 2013. The approximately 76 million Baby Boomers have an estimated buying power of over $2 trillion. But with the economic downturn, we’re seeing a shift from a trade-up culture to a trade-off culture.Key food shopper behaviors in the new economy include advance preparation to determine best value, comparing unit prices, limiting purchases of premium products, and moving to store brands for a better price. Surveys across the board show that consumers are eating more at home.
Health will remain a consumer concern. If current trends continue, 86% of the adult American population will be overweight or obese by 2030. Childhood obesity rates are expected to hit 40% by 2012. In Europe today, it’s 35%. But many consumers are heeding medical advice and paying closer attention to their diets. Health and wellness will be a significant driver of consumer behavior for the next decade. The most sought after package health claims are whole grains, high fiber, low-fat, low sodium, absence of trans fats, and low sugar. Consumers also want products with antioxidants, dietary fiber, omega-3, and probiotics.