60 Is The New 50! Health and Wellness #1 Priority for Americans 50+

60 Is The New 50! Health and Wellness #1  Priority for Americans 50+

The saying 'age is nothing but a number' is more true today than ever, especially among the Baby Boomer generation.  As boomers turn 50 and enter their 60s, they are carrying with them a firm belief that getting older means getting better. Many look at aging simply as another life stage filled with opportunities for reinventing themselves and experiencing new possibilities for personal growth, rather than as a signal to wind down their lives.

Changes in thinking about what it means to get old have occurred alongside a rising commitment by consumers of all ages to improve their health and pursue wellness . A February 2011 Online Consumer Survey compiled by market research firm Packaged Facts confirms the ongoing shifts in perceptions of aging on the part of 50+ consumers. Nearly 68% of 50+ consumers who are concerned with wellness have stretched their definitions of aging stating “60 is the new 50 and 70 is the new 60,”, compared to 58% of the 50+ age group as a whole.

Those pursuing wellness after 50 place a high monetary value on their personal health. They are much more likely than others their age to be willing to pay anything when it concerns their health. For marketers, this is a key element to future business initiative. According to Packaged Facts' study, Healthy 50+ Americans, healthy baby boomers are part of a major demographic trend. Between 2010 and 2015 the population of the 50+ age group as a whole is expected to grow by 11.3%, while the number of Americans younger than 50 will increase by only 2%. Translation: The 50+ age segment will account for the vast majority (73%) of population growth in the next five years.

Wellness concerns have the greatest impact on food choices of 50+ Consumers. According to Packaged Facts' survey data , more than 77% of consumers 50 and over  who claim that their daily routine is significantly affected by wellness goals  also agree that the foods they eat are determined in part by these same goals. Compared to other consumers, healthy 50+ consumers are far more likely to try to eat healthier foods (80% vs. 66%) and to limit their snacking to healthy foods. For 64% of 50+consumers living in the wellness zone the nutritional value of the food they eat is most important, compared to only 49% of other 50+ consumers.

The Cold Standard

By Jennifer Strailey

The frozen case offers a host of hot trends in natural and organic foods.

One of last year's hottest food and beverage trends came out of the supermarket freezer case, and, given the current economic outlook and consumer shopping habits, industry analysts believe this cold front has moved in for the long stretch.
U.S. retail sales of frozen foods and beverages through all retail channels totaled $55.9 billion in 2010, up 1.7 percent from the previous year, according to Packaged Facts, a division of MarketResearch.com, in its recently released report, "Frozen Foods in the U.S., 3rd Edition" (January 2011). The consumer market research firm, based in Rockville, Md., expects that number to reach $70 billion in 2015.
There's no question that frozen food sales have been driven in part by the economy, which has seen a decline in Americans dining out in favor of eating at home. Frozen foods provide a more affordable alternative to eating out, while at the same time satisfying consumers' eternal craving for convenience. But more recently, manufacturers have introduced a slew of natural, organic and wellness-oriented frozen food and beverage products that has brought attention — and health cred — to the category like never before.

Economically Potent and Increasingly Acculturated Latino Consumers Spend More, Display Strong Financial Optimism

New York, December 21, 2010 — The United States population of Hispanic consumers wields a formidable combination of fiscal optimism and buying power in excess of $1 trillion, making progressively more acculturated Latinos a demographic capable of shaping the nation’s future economic and marketing trajectory, according to Latino Shoppers: Demographic Patterns and Spending Trends among Hispanic Americans, 8th Edition by market research publisher Packaged Facts. Hispanic buying power is projected to reach $1.3 trillion in 2015, a cumulative increase of around 25%.

"Although suffering their full share of job losses and foreclosures, Hispanic consumers are more optimistic than non–Hispanic white consumers about their own personal financial situation and about the future of the American economy," says Don Montuori, publisher of Packaged Facts. "Between 2008 and 2009 above–average growth in the Hispanic population caused aggregate spending by Latino households to increase slightly even as spending declined in non–Hispanic households. Considering that one in six Americans are now of Hispanic heritage, Latino consumers will remain influential over the ensuing years, especially because there are a significant number of high–income Latino households."

Marketers must be aware of how increasing acculturation will affect the decisions of Latino shopping behaviors. Compared to their low–acculturation counterparts, high–acculturation Latinos are much more likely to own credit cards, take out loans and have health and life insurance, according to the report.  They are also less influenced by advertising and product placements but are much more alert to in–store promotions. Additionally, they are far more likely to shop and buy online and from catalogs. Packaged Facts further reveals that more education leads to better paying jobs and increasing influence among high–acculturation Latinos, who are more likely than their low–acculturation counterparts to work as managers and professionals, are more likely to own their own homes, and are twice as likely to have a household income of $75,000 or more.

Although advertising campaigns have increasingly featured Hispanics and Hispanic themes, marketers targeting Hispanic consumers must recognize substantial regional differences in the composition of the Hispanic population. For instance, Latinos living in  western and southwestern states tend to be of Mexican heritage, while Latinos in the Northeast have a much more varied country–of–origin background. With an estimated buying power of $616 billion, Latinos of Mexican heritage represent the single most influential segment of the Hispanic market. Mexicans in the U.S. account for 59% of all Hispanic buying power. On a per capita basis, however, Cubans are the most affluent of the major Hispanic population segments.

Latino Shoppers: Demographic Patterns and Spending Trends among Hispanic Americans, 8th Edition provides an in–depth look at the shopping habits and spending patterns of Hispanic consumers today. It also provides a glimpse into Latino shoppers of the future. As more acculturated Latinos become an ever–larger share of the population, marketers may need to address the potential for a significant change in the profile of the Latino consumer. This Packaged Facts report provides important insights into the way acculturation may affect the shopping behavior and buying decisions of Latinos in the years to come. For further information, please visit: http://www.packagedfacts.com/Latino-Shoppers-Demographic-2848314/.

About Packaged Facts—Packaged Facts, a division of MarketResearch.com, publishes market intelligence on a wide range of consumer market topics, including consumer goods and retailing, foods and beverages, demographics, pet products and services, and financial products. Packaged Facts also offers a full range of custom research services. To learn more, visit: www.packagedfacts.com. Follow us on Facebook, LinkedIn and Twitter.

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Hispanic Food and Beverages in the U.S.: Market and Consumer Trends in Latino Cuisine

With Hispanic foods and beverages achieving such prominence, it’s no wonder that sales were close to $7 billion in 2009, according to the latest market study from Packaged Facts. "Our analytical market review of the Hispanic food and beverage market anticipates continued aggressive growth through 2014," notes Packaged Facts publisher Don Montuori. "Sales will top $9.5 billion in 2014." Packaged Facts' Hispanic Food and Beverages in the U.S.: Market and Consumer Trends in Latino Cuisine details how the expanding appetite for Hispanic food and drink among non-Hispanic Americans combined with the rapid increase in the Hispanic population is driving sales of Mainstream Mexican products along with Authentic Hispanic and Nuevo Latino foods. Hispanic Food and Beverages in the U.S. key components include: Expanding distribution methods Which retail outlets are gaining marketshare Eight product categories driving growth The rise of the “foodie” and other key trends Top product categories Growing Hispanic Population and Growing Taste for Hispanic Foods Competitor profiles, both in the manufacturing and foodservice In addition to covering packaged products sold through retail, Hispanic Food and Beverages in the U.S.: Market and Consumer Trends in Latino Cuisine includes qualitative and quantitative information on foodservice sales through channels such as fast-food outlets, sit-down restaurants, mobile units, etc. More »

Private-Label Food & Beverage Retail Sales

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Millennials in the U.S.: Trends and Opportunities Surrounding Gen-Y Adults

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NEW! Artisan Foods: Culinary Trend Mapping Report

Artisan foods are everywhere, from their pervasive presence at large chain grocery store bakeries featuring in-house baked “artisan” loaves to fast casual chains such as Panera Bakery that have built an entire sandwich menu around freshly baked breads.

Manufacturers and restaurant operators have recognized that “artisan” has become another term for “quality.” It evokes small producers making traditional foods by hand, treating production as a craft and putting great care into the outcome. Larger producers are able to capture the aura of artisan with rustic-looking products, distinctive ingredients, unique cooking methods and stories that connect products to consumers.
 
This report explores the possibilities available in the world of artisan foods, and tracks some of the most exciting contemporary trends associated with this popular culinary segment.
Many artisans source their ingredients from nearby farms or grow their own, making a concerted effort to only use what’s available and in season to create a high quality, fresh-tasting product. Consumers savor these regional specialties and unique flavors. Artisan foods give consumers sustenance with a story featuring products that are more authentic and less conventional. For consumers it’s as much about nostalgia as it is about security in knowing they are feeding their families quality cuisine. Modern day artisans specialize and innovate on the traditional, producing savory and exotic ice creams, unusual types of cheese or specialized spirits to enliven and entice the palate. Like modern street food vendors, artisans make process part of their product, offering consumers a window into the traditions of the past. The current wave of artisan foodmakers is making the environment a priority, employing business strategies that minimize waste and negative impact on the earth. Reusable containers, compostable packaging and other eco-friendly practices allow consumers to be socially responsible while also enjoying an excellent product.

• Local & Seasonal Eating —
• Homemade/Authentic —
• Flavor Adventure —
• Consumer Engagement —
• Going Green —

More Information>>

Competition on Aisle Five

A new study finds consumers are flocking to grocery-store prepared meals for two reasons. And restaurants should be worried.

By Daniel P. Smith - QSR Magazine

Quick-service restaurants feeling more intense competition for the consumer’s dollar might not only look at their dining rivals across the street, but their supermarket down the block.


A growing array of prepared and ready-to-eat foods at retail outlets such as Walmart and Kroger are attracting consumers and threatening to put a dent in quick-service business, says a new report from Packaged Facts titled “Prepared Foods and Ready-to-Eat Foods at Retail: The New Competition to Foodservice.”

The report surveyed 1,881 U.S. adult consumers and found that half of respondents were more likely to eat dinner at home than they were three months ago, while 64 percent reported purchasing ready-to-eat or heat-and-eat food from a grocery store within the last month. The study predicts that supermarket prepared foods will grow to $14 billion by 2011, largely motivated by consumers migrating away from restaurants during the recession in search of value and one-stop-shop convenience.

“We see a lot of momentum here and expect growth of 7 percent from 2010 to 2011, which is a pretty monumental surge in a supermarket industry that has been accustomed to losing share,” says David Morris, the report’s chief analyst.

The study cites two distinct groups gobbling up supermarket-prepared foods: those who seek low-cost, quick alternatives out of necessity or convenience and those who see the prepared foods as an alternative to home cooking. Both groups have long been primary clientele for the quick-service category, heightening restaurant concerns in an already challenging environment.

“This is not a new trend, but we do see this as the year that grocery stores put this strategy at the forefront, which should be a competitive concern for restaurants,” Morris says.

Suzanne Long, a grocery retail analyst with New York–based SSA & Company, says grocery stores began stocking prepared meals more aggressively in 2005–2006. Noting a consumer conscious of price and time, the industry saw an opportunity to modernize its decades-old business model and push into new areas. Offering prepared meals was supposed to generate additional in-store purchases.

“There’s been a huge trend toward this for years now, but the retailers are looking far more at sales and market share over profit,” Long says.

Although still in its formative years, the prepared-meals trend is gaining momentum, particularly as the recession lags. Grocery chains continue to experiment with more diverse offerings, portion size, and operational efficiencies to better compete with restaurants and draw customers.

“Grocery stores feel as if they haven’t come close to achieving their goal of grabbing greater market share, so there’s absolutely a continued push,” Long says.

The study predicts that supermarket prepared foods will grow to $14 billion by 2011.While the threat of increased competition in an already heated foodservice field brings concern to some restaurant brands, others see the rise of grocery stores in the prepared-foods arena as a complement—not a competitor—to business.

In June, Canadian chain Tim Hortons announced it would add 48 self-service coffee kiosks to new Tops Friendly Markets locations in the northeast U.S. The partnership adds to Tim Hortons’ already strong relationship with the grocer, which includes existing kiosks in 82 Tops outlets in upstate New York. Each of the locations serves Tim Hortons’ signature blend coffee, Timbits donut holes, hot chocolate, and tea.

“We’re taking the brand to the people,” says Tim Hortons COO David Clanachan. “The key thing is convenience. People are time-starved and they want what they want. If we make our products available and win loyal customers, then it feeds our brand.”

Whether competitor or complement, there remains little question that grocery’s major players intend to challenge restaurants. While grocery stores might succeed and expand in the short term, Morris sees a ceiling to their market share.

“The grocery stores cannot be ignored, but they still cannot recreate the restaurant experience unless they build out and create their own branded restaurant-like setting,” he says. “That’s one thing the restaurant world has going for it, even as the competition grows.”

For information on Prepared Foods and Ready-to-Eat Foods at Retail: The New Competition to Foodservice click here.

As the economy slowly recovers from the recession depths of 2008 and 2009, marketers and market researchers differed sharply over whether the price-conscious consumer who dominated the marketplace during the Great Recession would prove to be a temporary aberration or a permanent fixture in the American economy. New Research:The Gay and Lesbian Market in the U.S.: Trends and Opportunities in the LGBT Community, 6th Edition The expansion of same-sex marriage and other forms of civil unions over the past decade is triggering an increase in the visible numbers of gay and lesbian family households and consequently an expanding market space for consumer goods and services of all kinds. Survey research shows that gay and lesbian consumers are more optimistic than other consumers about the economy and personal finances, indicating that gay and lesbian consumers are more likely to amp up discretionary spending on products and services in the wake of the recession. This completely new 6th edition of Packaged Facts Gay and Lesbian Market in the U.S. provides marketers with the analysis and insights they need to help them succeed in a consumer segment whose buying power is fast approaching $800 billion. More Information: Info   |   Table of Contents  The Post-Recession Consumer in the U.S. This Packaged Facts report sifts through five years of data to follow the twists and turns in consumer confidence before, during and in the immediate aftermath of the most severe economic downturn in 70 years. The report contrasts the attitudes and behavior of consumers on the highest end of the Consumer Confidence Index of the Experian Simmons NCS (“Confident Consumers”) with those on the lowest end (“Anxious Consumers”). By doing so, it sheds light on the conflicted mindset of consumers as the recession loses its grip and suggests how marketers might respond to their customers in an uncertain post-recession economic environment. The Post-Recession Consumer in the U.S. provides in-depth insights into trends affecting the post-recession environment in key areas such as price sensitivity and use of premium brands and highlights key opportunities in the post-recession consumer market. Subsequent chapters offer an in-depth view of how Confident and Anxious Consumers shop in supermarkets and drugstores and how they behave when shopping for the home also included is data on how they spend leisure time and their behavior in the fashion and automotive sectors. More information: Info   |   Table of Contents The African-American Market in the U.S., 8th Edition With a population of 40 million and buying power approaching $1 trillion in 2010, African Americans are a key segment in an American economy that increasingly depends upon the needs and preferences of multicultural consumers. Packaged Facts' new market study, The African-American Market in the U.S., 8th Edition, analyzes the forces shaping the purchase decisions of African-American shoppers and sheds light on key areas such as how black consumers decide where to shop and what influences them while they are shopping. Special Features Include: Assessment of the trends shaping the African-American market with an emphasis on opportunities available to marketers. Financial forecast of buying power held by African Americans through 2014 and detailed demographic profiles of the African-American population. In-depth examination of attitudes and behavior of African-American shoppers as it applies to food, clothes, drug-store items and home electronics and furnishings. Unique perspective on the shopping behavior of affluent African Americans consumers. More information: Info   |   Table of Contents