Considerable changes are occurring in the consumer services sector at a rate never before seen, especially in the food industry. A huge, fresh market dinner The evolving traits and inclinations of consumers have prompted corporations to respond and adjust in many manners. They will need to develop a strategy that enables them to quickly anticipate shifts in the market, incorporate consumer intelligence into decision-making processes, and be adaptable to various scenarios if they want to stand out within a highly competitive business.
Listing of Contents
1: The problem of changing demographics: new customers with different wants and fresh market small-plate meals
2: Businesses also face the problem of changing consumer tastes and preferences, which are emphasising sustainability and healthy living.
3: Notable alterations include:
4: Businesses are responding to a disruptive environment; those who can shift with speed and success will prevail in the marketplace.
5: How can we differentiate ourselves from the competition by leveraging the disruption?
6: It is not sufficient to simply respond; you also need to project and prepare for the future.
7: Moving forward: a few thoughts to make a statement and set yourself apart
In brief
8: The problem of changing demographics: new customers with different wants and fresh market small-plate meals
9: The characteristics of the population are swiftly and dramatically changing. 72% of food businesses say that their business faces challenges as a result of customer changes (EY CPR Balance Leadership Survey, 2016).
The following are a few of the primary motivators and significant tendencies that are discernible:
• Homes that are smaller. According to information collected by the National Institute for Statistics and Geography (INEGI), the average household size in Mexico fell from 4.3 people each household to 2000 to 3.7 in 2015. This can be attributed to the following trends: families are choosing to have fewer children; there are greater numbers of single-parent and single-person households; and the number of people living together without family and emotional relationships has increased.
• Redevelopment of urban core areas. Unlike previous generations that chose to live in the rural suburbs, the middle-class and upper-class people desires to be close to major cities and employment regions. Consumption habits are impacted by this trend, and premium products are in more demand in locations where convenience stores and grocery stores predominate.
• A rise in chronic illnesses and obesity. Chronic disease rates are rising in developing nations, primarily as a result of poor dietary and physical activity patterns. The decline in population health is mirrored in declining productivity and a reduced standard of living. Government regulation of the food sector is therefore under threat, as are the interests of customers who would rather purchase more wholesome, natural, and minimally processed goods.
• alterations to the buyer’s profile. Male and young purchasers are becoming increasingly prevalent due to changes in family composition and rising female labour force participation, which increased from 41% before 2003 to 48 percent in 2018 (World Bank’s Online Databank, 2019). This opens up new sales channels for products targeted to these high-spending customers.
Businesses also face the problem of changing consumer tastes and preferences, which are emphasising sustainability and healthy living.
The observation of a significant disruption pertains to the preferences of consumers. Every generation is defined by its tastes. The food sector has thus had to adjust to them.
Among the major adjustments are: Brand loyalty.
better way of life. Nonetheless, an increasing number of customers are embracing novel cuisine trends.
This trend is happening either on medical advice or even as a preventative measure. In industrialised nations like Mexico, and where the prevalence of chronic illnesses is rising, this trend is predicted to continue.
