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The conventional wisdom goes that gourmet/premium foods fare nicely throughout economic downturns due to the fact customers view them as “affordable luxuries.” But the “Great Recession” of 2008-2009 disproved this theory as mighty Starbucks, the bellwether for the democratization of luxury, was among the 1st companies hit by cutbacks in consumer spending. For the marketplace all round, Packaged Facts conservatively estimates that total U.S. retail sales of gourmet/premium foods and beverages via all retail channels rose to $ 67.1 billion in 2009, an improve of three.7% more than the previous year’s sales of $ 64.7 billion compared with the 2005-2009 compound annual development rate of eight.7%.
Nevertheless, success remains to be had, and several gourmet/premium marketers and retailers are succeeding by locating methods to respond to the economic slowdown not by ignoring it or reversing approach, but by incorporating its influence on customer behavior as a aspect amongst others. This new report from Packaged Facts is an indispensible tool to this end, answering such queries as: Which gourmet/premium goods and market place segments have been faring well in the new economy? How are marketers and retailers adjusting? How can they recast and reposition their goods? Who are the most viable customers, and how can they very best be reached? Which media and marketing messages resonate for these consumers, and in what contexts?
Gourmet, Specialty and Premium Foods, Beverages and Customer Trends in the U.S., 8th Edition also pinpoints industry size, analyzes development possible and identifies concerns and trends that will impact the marketplace by way of 2014. Focusing on consumer lifestyles and demographics by means of substantial evaluation of Experian Simmons panel data, the report examines their attitudes and behaviors toward gourmet/premium foods and beverages, retail purchasing patterns, and media usage and preferences, both conventional and social. Also integrated is extensive coverage of new product trends and advertising and advertising positioning, all discussed within the context of the social, financial, and psychographic drivers of current consumer behavior.
Additional data sources incorporate SymphonyIRI Group sales tracking of chosen merchandise and brands via tracked mass-marketplace channels Datamonitor’s Product Launch Analytics data tracking new item introductions and proprietary information from Packaged Facts’ own consumer survey, which is based on a national on the internet poll carried out in May possibly/June 2010.