Thecombined restaurant and grocery store sectors account for 1.13 Trillion inannual sales. According to the National Restaurant Association, total estimatedrestaurant prepared meal sales for 2010 was $580 billion and according toTechnomic they rose 0.07 percent in 2011. The restaurant industry employed 12.7million people in 945,000 locations, about 220,000 of which were fast foodoutlets. Restaurants’ share of the food dollar was 49%, with 1.6 milliondollars in sales on a typical day. TheGrocery industry food sales for 2011 as reported by Food Marketing Institutewere $ 584 Billion dollars, The supermarket industry employed 3.4 millionemployees at 36,569 outlets.
A consistent trend in the food industryhas been the increasing demand for Ready-2-Eat and Heat-N-Eat fresh andprepared food. According to The New American Family, The more children there are in a household, themore likely its members are to cook at home, and use pre-packaged conveniencefoods.” In 2011 consumers continued to be time starved and convenience drivenwith an ever expanding palate for multi-ethnic cuisine.
In American families today the evening meal isassembled at home from multiple sources including Ready-2-Eat and Heat-Neatfresh prepared food and divided between eating out or ordering pick up food(FMI, 2010). Meal time flavorprofiles have expanded beyond the cooking mastery within the household. Mostinterestingly more than nine in 10 parents serve ethnic foods athome (Gallup). Thus an increase demandfor ready-2-eat and heat-N-eat fresh and prepared food across all agegroupings.
Thefood retailing industry is presently highly fragmented. It consists largely of local business andregional, national retail food chains including restaurants and grocerystores. The ready-2-eat and heat-N-eatfresh food marketplace has created new avenues of distribution includingConvenience Stores, Chain Drug Stores, Liquor Stores, farmers markets. Thiscreates an omnichannel food retail world where expanding points of fresh foodis increasing competition, elevating fresh food messaging and all the whileexpanding consumer choice. If yourretail food brand is not expanding in this new grocerant environment then youare fast capitulating market share. Areyou ready to enter or grow within the ready-2-eat fresh food niche?
FoodserviceSolutions® specializes in outsourced business development. We can help youidentify, quantify and qualify additional food retail segment opportunities ora brand leveraging integration strategy. Foodservice Solutions of Tacoma WA is the global leader in the Grocerant niche visitFacebook.com/Steven Johnson, Linkedin.com/in/grocerant ortwitter.com/grocerant
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