Channel Choices – Consumer Behaviour Trend Analysis
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Channel Choices Consumer Behavior Trend Analysis Report Overview
Consumers across various demographics and regions are concerned about their personal financial conditions, particularly due to the rising global inflation. Younger generations are more concerned than older ones, reporting serious or moderate financial anxiety in Q4 2022.
The current economic landscape has resulted in widespread concerns about personal finances among consumers, particularly in emerging markets. This has led to a shift in purchasing behavior as consumers prioritize budget-friendly options. Retailers and food service providers must reassess their target markets and promotional strategies to remain competitive in the market.
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Channel Choices Dynamics
Discounters draw more customers but maintaining lower price points may limit their ability to make a profit. There is a huge stream of consumers choosing stores and outlets that are more reasonably priced. The risk of foot traffic loss is very high for mid- to high-priced retailers and outlets. Consumers from Generation X are acting the most out of all generations, as the preceding page says.
Food delivery is still a popular way for customers to order food and beverages. Consumers’ lifestyles are slowly returning to those they had before the COVID-19 pandemic, and the number of times they visit places other than their houses has been rising. Besides food delivery, there has been a gradual rise in the frequency of food and drink orders made through all channels. This trend was anticipated as society recovered from the pandemic.
The most notable reduction in foot traffic in restaurant channels is seen in QSR. The most popular restaurant channels are coffee and tea shops and quick-service restaurants (QSRs), with about one-third of consumers visiting these establishments at least once each week.
More consumers are traveling and returning to their places of employment. The main places consumers obtain their food and beverages are supermarkets and major retail stores. From Q1 to Q4 2022, the percentage of regular users who go to these outlets at least once a week has increased.
Moreover, older generations have begun to dominate home delivery. The percentage of customers who prefer to have food and beverages on the premises has grown from Q1 to Q4 2022. Home delivery is the second most often used strategy, and the percentage of consumers who favored this strategy decreased from Q1 to Q4. Some customers have been persuaded to eat or drink on-site. There has been a change in the pattern of generational preferences.
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Channel Choices Consumer Behavior Trend Analysis Outlook
Page Count | 17 |
Key take-aways | Consumers react to inflationary pressures, Retailers should seek opportunities, Quick-service restaurants are losing customers, The impact of COVID-19 is gradually fading |
Scope
- The financial concerns of consumers continue to shape their purchasing behavior and have implications for retailers and food service providers.
- With inflation affecting household budgets, consumers are prioritizing affordable options, leading to a decline in QSR customers.
- Brands must adapt by offering budget-friendly prices and promotions to attract customers and remain competitive.
Reasons to Buy
- Understand the relevant consumer trends and attitudes that drive and support innovation development so you can tap into what is really impacting the industry.
- Gain a broader appreciation of the fast-moving consumer goods industry by gaining insights from both within and outside of your sector.
- Access valuable strategic take-outs to help direct future decision-making and inform new product development.
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Table of Contents
Frequently asked questions
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What are the key take-aways in the channel choices consumer behavior trend analysis?
The key take-aways in the channel choices consumer behavior trend analysis are consumers reaction to inflationary pressures, retailers seeking opportunities, quick-service restaurants losing customers, and the impact of the COVID-19 pandemic gradually fading.
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Which is the most popular way for customers to order food and beverages?
Food delivery is still a popular way for customers to order food and beverages.
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Which are the popular restaurant channels?
The most popular restaurant channels are coffee and tea shops and quick-service restaurants (QSRs), with about one-third of consumers visiting these establishments at least once each week.
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