From restaurants to real food at home
Consumers have quickly adjusted to eating more meals at home. And these new habits are likely to stick—56 percent intend to spend less time eating out in future and one in five will cook for themselves more often.i
Many consumers have also been reacquainting themselves with cooking techniques, with 40% cooking most of their meals from scratch and nearly two-thirds trying new recipes or methods.ii Additionally, 84% of global consumers are looking to be inspired during their grocery shopping experience. Brands have stepped up to help with convenient pre-prepared meal kits, while restaurants have innovated with carry outs and deliveries.
Four in every ten consumers would order a meal kit from a restaurant to make at home at least once a monthiii
What does this mean for consumer industries?
Given the huge changes in consumer needs and behaviors, consumer companies need to better understand who their most valuable customers are, what they want and how they can best serve them.
Using a data-driven strategy, companies need to consider how to increase convenience and improve the overall consumer experience, discover what consumers are willing to pay for (and not pay for), and the impact on profitability.
Companies need to explore new kinds of partnerships. For example, Sysco launched the Foodie Solution platform to provide an array of tools and resources to help their customers drive traffic for their restaurants (e.g., help with increased demand for delivery and alternative dining options, as well as support for tailoring different occasions.iv And Tesco, for example, seeing the demand for meal kits, teamed up with SimplyCook—which invites in-store shoppers at convenience stores to create their own bespoke meal kits.
Consumer companies can also consider extending their offer. Hotels and hospitality companies, for example, can diversify into food delivery, taking inspiration from services like Marriot on Wheels.