Friday, 12 February 2016

FRUIT LOGISTICA 2016 becomes capital of fresh produce trade for three days

FRUIT LOGISTICA 2016 becomes capital of fresh prod...

  From February 3 to 5, FRUIT LOGISTICA in Berlin is the place to be for everyone that wants to k...

Perupas shortlisted for Fruit Logistica Innovation Award

Perupas shortlisted for Fruit Logistica Innovation...

  WOW! Colourful Perupas made by Dutch company HZPC were selected by the international Fruit Logi...

Givaudan celebrates ten years of ethical sourcing

Givaudan celebrates ten years of ethical sourcing

  Givaudan is marking a milestone in its journey to sustainable natural ingredients with an event...

ChemChina to acquire Syngenta at a value of over US$ 43 billion

ChemChina to acquire Syngenta at a value of over US$ 43...

  Syngenta has announced that earlier this February ChemChina has offered to acquire the company at US...

Kiremko starts construction works at new facility

Kiremko starts construction works at new facility

  On February 1, the construction of the new Kiremko building started in a festive way in Montfoort, T...

Potato cultivation programme lifting people out of poverty in Africa

Potato cultivation programme lifting people out of pove...

  The Irish Potato Coalition is a programme set up by Vita, an Irish NGO, which works with communi...

Sensor-based systems for the potato industry exhibited at Fruit Logistica 2016

Sensor-based systems for the potato industry exhibited ...

  A new edition of the Fruit Logistica trade show is set to take place in Berlin, Germany, between Feb...

AHDB launches website to improve potato chips quality

AHDB launches website to improve potato chips quality

  With the frying trade accounting for 12% of the Great Britain potato crop, ensuring quality across t...

Snack manufacturer Ibersnacks assesses its weigher-bagger equipment

Snack manufacturer Ibersnacks assesses its weigher-bagg...

  Snack manufacturers with high production outputs to pack and large orders to fulfil are among the mo...

FAM and Stumabo launch NECST - Next Evolution in Centrifugal Slicing Technology

FAM and Stumabo laun...

  FAM Stumabo developed NECST TM, an ambitious R D proj...

Potato chips in Canada - All dressed up

Potato chips in Cana...

  If you want to try potato chips with ketchup, dill pick...

Pasteurization - It’s all about safety first

Pasteurization - It’...

  Improved shelf life for food products is essential – no...

Kiremko and Packo present new product pump

Kiremko and Packo pr...

    Dutch manufacturer Kiremko and Packo, designer and c...

Company introduces potato starch for clean label food coatings

Company introduces p...

    Eliane™ Bind 12 is a potato starch with unique propert...

Company launches new formulation of biofungicide

Company launches new...

  Marrone Bio Innovations, a U.S. provider of bio-based p...

Welsh potato growers get latest know-how on Potato Day

Welsh potato growers...

  Over 50 potato growers gathered at the County Showground ...

Chile considered robust market for American agricultural equipment

Chile considered rob...

  In the most recently released U.S. Department of Commer...

Dundee-China collaboration discovers potential ‘Achilles heel’ of potato blight

Dundee-China collabo...

  Scientists working in Scotland and China have uncovered...

SmartStor controller wins Certificate of Merit at Lamma 2016

SmartStor controller...

  Lamma 16, the first major farming event of the year too...

Consumers who cut back on their spending during the recession are keeping to this trend by staying away from the supermarket shelves, according to a survey by Booz & Co., a global management consulting firm.

Consumers have cut back 28 per cent on food at home expenditures this year, which is an increase from a 23 per cent cutback in 2009.

"The new frugality that consumers reported last year - one that requires trade-offs between price, brand and convenience - has become dominant and ingrained behavior in several categories," said Nick Hodson, partner with Booz & Co.

"Consumer products companies and retailers need to monitor and understand the evolving behaviors of different consumer segments and respond to each, category by category. Going back to business as usual is not an option."

Consumers also are trading down on essentials and switching to less expensive brands with 37 per cent of consumers trading down on food at home.

Only one-third of consumers expect their financial situation will improve during the coming year, and even optimistic consumers show little evidence of increasing spending. Less than 10% of all optimistic consumers who were surveyed planed to trade up in brands, and only 15 per cent plan to spend more in discretionary categories.

"Consumers continue to pay down debt and build up their savings," said Marcelo Tau, principal at Booz & Co. "There is little reason to believe consumers will give up their frugal behaviors in the short term. Consumers remain cautious, especially following their disappointment with the slow pace of improvement over the past year."

Private label penetration in the supermarket has grown from 15 per cent before the recession to more than 18 per cent of total sales in 2010. As the economy improves, private label sales are expected to remain strong, and branded consumer packaged goods may find it difficult to regain lost market share.

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