Tuesday, 26 July 2016

Volatility Forum: Brexit Adds Uncertainty in Agricultural Markets

Volatility Forum: Brexit Adds Uncertainty in Agric...

    UK agriculture needs to build resilience to market shocks now more than ever, according to t...

The 20th EAPR Conference to Take Place in Versailles Next Year

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   ARVALIS – Institut du végétal is organizing the 20th Conference of the European Association for ...

INTERPOM | PRIMEURS 2016: Growing through Precision Technology

INTERPOM | PRIMEURS 2016: Growing through Precisio...

  The organizers of INTERPOM | PRIMEURS 2016 have announced the biggest edition ever of the trade...

Utz Foods Acquires Golden Enterprises for USD135m

Utz Foods Acquires Golden Enterprises for USD135m

  Utz Quality Foods Inc., the family-owned Hanover, Pennsylvania-based potato-chip and snack-food comp...

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Monsanto Sees Bayer’s Proposal as Financially Inadequat...

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French Student Develops Hand-held Pesticide Detector, Scan Eat

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Kiremko is the Main Supplier for New Project Linkage Farm Frites in China

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   Dutch engineering company Kiremko will be the main sup...

McCain Foods Invests USD65m in Expanding Its French Fries Plant in Canada

McCain Foods Invests...

McCain Foods (Canada) announced a major investment of USD6...

Branston Began the Expansion of Its Potato Processing Plant in Lincoln

Branston Began the E...

The UK potato supplier Branston has begun work on its GBP5...

Processed Potatoes in EU Worth EUR10b in 2014

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  Processed potatoes (mainly frozen chips and crisps) wer...

Aviko Introduces a Guide for Gluten-free Catering

Aviko Introduces a G...

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Government in Venezuela Authorizes Import of Potato Seeds

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   The Deputy Minister of Agriculture in Venezuela, José ...

Scientists Reveal Potato Parasite’s “Toolkit"

Scientists Reveal Po...

  An international research collaboration led by the Univ...

Kangaroo Island Potato Producer Wins the “Mini MBA” for Farmers

Kangaroo Island Pota...

 Kangaroo Island potato producer Peter Cooper has been nam...

CEJA President: Losing Young Farmers Puts the Future of European Food Production at Risk

CEJA President: Losi...

  CEJA President, Alan Jagoe, addressed EU agriculture mi...

Researchers Develop Nutrient-rich Purple Potato

Researchers Develop ...

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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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