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/523050
& A look at the events, issues, and innovations shaping specialty food, plus industry news, trends, and more. trends happenings The Wallet Talks Hispanics spend $10 more per visit than the average shopper on all forms of consumer packaged goods, according to Nielsen's "Share of Wallet" study. "Multicultural consumers present a vital growth opportunity for retailers. They're a large, young, and growing segment," says Eva M. Gonzalez, executive director of diverse consumer insights and multicultural marketing at Nielsen. With the Hispanic population expected to nearly double in size by 2060, to 29 percent of the total population, "retailers and manufacturers cannot afford to ignore this large, growing segment," she adds. Members of the demographic spend an average of $81 per store visit on food products, compared with $71 for the total market, and this number increases as income does. "Those who can zero in on the nuances of the Hispanic consumer will continue to be a step ahead of their competitors," Gonzalez says.—Denise Shoukas Sustainable Water Plant-based waters are flooding the market. The latest? Sustainable bamboo water. Made from bam- boo leaves, this nutritious water is good for both human health and the environment. Bamboo doesn't destroy the land it's grown on and absorbs 35 percent more carbon dioxide than other similar species. According to Bamboo Beverages founder Vincent Villanis, bamboo leaves contain health-linked fla- vonoids and amino acids and the resulting water has a natural taste. The company will have a soft launch of its product in Hamilton, Ontario, at the end of June.—D.S. 41% growth in the U.S. of sales of rosés ($12+) in 2014, compared with just 1 percent growth for all other wine categories, reports Wines of Provence