The market knows best

Abstract

Historically, consumers have made decisions based on taste, price, and convenience – what we refer to as traditional drivers. While consumers have always considered factors beyond these three traditional drivers, only a small set of consumers made purchase decisions based on other factors. However, things are changing. Consumers have begun to consider a new set of characteristics more heavily in their purchases. This new way of decision making disrupts the consumer value equation in ways that present both opportunities and challenges for the food industry. These consumer-led disruptions represent an opportunity for manufacturers and retailers to reset and reposition themselves with consumers and shoppers. For 2022, the outlook for the food and drink industry can, predictably, be structured by the following consumer expectations.