Trade News

Chris Rapanick, managing director of research at NACS, led attendees of “State of the Industry Update: Leveraging the Latest Financial Benchmarks” through a deep dive of the convenience industry’s financial report card with “a goal to help you make use of this data to make better strategic decisions.” The session covered top-of-mind and key performance metrics on inflation, fuel and store counts based on the data presented at the State of the Industry Summit in April 2023. While a lot has changed since earlier in the year, inflation remains a top concern. “Everyone was concerned with how inflation was affecting business and asking, ‘How bad will it get?’” noted Rapanick. NACS, using BLS data and other syndicated sources, determined the actual level of inflation on the categories accounting for at least 85% of sales (for example, salty snacks). This meant, “If you were operating in 2022 and you grew your…

Amidst a return to post-pandemic normalcy and rapid inflation, consumers find themselves at the centre of a storm. With price becoming a top concern, shoppers are modifying their behaviours to minimise the impact on their wallets. The new research report, Snackonomics, drills into the $135B snacking segment, revealing insights into shopper preferences around channel choices, brand-versus-private-label, meal behaviours, pack sizes, ingredient formulation, and more. The fast-growing snack market may be viewed as a microcosm of shopper trends across the total food market, reflecting widespread consumer preferences for value, convenience, flavour profiles, and healthy ingredients. Learn more about snack market trends and shifts; the evolution of when and where people are eating; and nutrition and formulation. Download the report here to learn which 5 levers snack brands can utilise to find growth beyond inflation. Source: NIQ