When COVID-19 turned the world upside down, consumer behaviors, preferences, and expectations altered almost overnight. Accenture research shows that the pandemic has caused half of all consumers to re-evaluate what’s important to them in life.
Nowhere is that more true than food preferences. As consumers settle into new habits about what, where and how they eat, there are significant implications and opportunities for consumer goods, retail, travel and hospitality brands.
Here are five of the ways we’re thinking differently about food.
Five ways we’re thinking differently about food.
The table is set
Consumers’ love of and interest in food may never have been greater. Their changed priorities and behaviors bring substantial opportunities for consumer goods, retail, travel and hospitality brands – if those brands have the advanced analytics capabilities to understand what consumers really want and will pay for. And, if those brands’ operations are fully centered around the consumer. Most companies will need to explore new business models and new partnerships to meet people’s needs.
The “table is set”: now it’s time for consumer companies to offer new experiences and operate in new ways.