Specialty Food Magazine

Summer 2020

Specialty Food Magazine is the leading publication for retailers, manufacturers and foodservice professionals in the specialty food trade. It provides news, trends and business-building insights that help readers keep their businesses competitive.

Issue link: https://www.e-digitaleditions.com/i/1256204

Contents of this Issue


Page 78 of 91

In total, specialty food consumers spent about 30 percent more on food than non-specialty food consumers weekly, $228 compared to $176. They especially spent more on foodservice than their non-SFC counterparts. Total food spending was up 18 percent between 2015 and 2020, driven mostly by "out of home" foodservice purchases, which jumped nearly 50 percent. THE STATE OF THE SPECIALTY FOOD INDUSTRY | S9 Specialty Food Consumers— What Do They Spend? Specialty Food Consumers' Average Weekly Spending on Food Average weekly spending on food by SFCs, 2015-2020 *Survey dates: July 2015, July 2016, January 2018, January 2019, January 2020. **Food purchased from a restaurant (eat-in, takeout, and/or delivery) and/or a supermarket restaurant/café within the store and/or from the prepared foods/deli section. Source: Mintel 2015 2016 2018* 2019 2020 Groceries cooked / prepared at home Food purchased out of the home** $113 $116 $109 $109 $80 $77 $104 $105 $119 $113 0 20 40 60 80 100 120 +49% change 2015-20 -4% change 2015-20 One of the biggest impacts of COVID-19 is consumers' shift away from foodservice to in-home food consumption. The impact will be lasting. Even when restaurants re-open they will likely be restricting patrons and may generate half the sales they used to. It may be several years before food spending out of the home rebounds back to its 50/50 stature, and it will likely be very gradual. As for grocery spending, some specialty food consumers will trade down or out of the market at least temporarily until economic conditions improve. SFCs who are heavy buyers likely will stay engaged in this market, but Mintel expects that the average weekly sales spend for specialty food and beverages will drop from 34 percent in early 2020 to 22-25 percent of total grocery spend by the time of next year's survey. The Impact of COVID-19

Articles in this issue

Links on this page

Archives of this issue

view archives of Specialty Food Magazine - Summer 2020