October 15, 2018  

Today's News Summary:

Kicking off the news this week, the NPD Group is reporting that aging consumers are slowing down food and beverage consumption in the U.S., making it a battle for market share. While our economy is improving, the aging population and corresponding changes in life stage will contribute to the decline in total eating occasions on a per capita basis, the study finds.

In other news, retail sales rose slightly in September, undershooting economistsí expectations for a strong gain. Sales at retail stores and restaurants rose 0.1% from the prior month to a seasonally adjusted $509 billion in September, the Commerce Department said Monday. From a year earlier, sales grew 4.7%. Septemberís sales stagnation was led by a 1.8% decline in sales at food services and drinking places, that categoryís steepest month-over-month drop in nearly two years.

Is American Cheese falling victim to Millennial tastes? One by one, America's food outlets are abandoning the century-old American staple, with many replacing it with fancier cheeses. American (cheese) culture is at a crossroads. The product, made famous by the greatest generation, devoured by boomers on the go, touted as the basis for macaroni and cheese, and the well-documented love object of Gen X, has met its match with millennials demanding nourishment from ingredients that are both recognizable and pronounceable.

Subway is the latest company to offer delivery to todayís time-starved customers. Subway restaurants are partnering with DoorDash, Grubhub, Postmates and Uber Eats to deliver its craveable sandwiches, wraps and salads across the U.S. With food delivery making up a growing share of the $800 billion restaurant industry according to National Restaurant Association and an expectancy to grow at least 12% over the next five years according to Technomic, itís clear that consumers want and demand delivery options.

Lastly, Papa John's has announced a new organizational structure designed to improve customer experience and drive growth. As part of the changes, the Company has established dedicated roles and responsibilities around each consumer touch point and has consolidated the line of reporting for these roles under a new Executive Vice President, Chief Operating and Growth Officer position, which will be held by Mike Nettles.

Welcome to Foodmarket News!

Urner Barry is proud to offer you Foodmarket.com. A website designed to provide you with the best news coverage in the food industry.
Each day, readers are kept fully informed of the food industry's most timely, relevant developments and market updates with stories presented in a clear, concise manner. This enables you to make the most of your busy day while remaining fully informed.

Foodmarket.com uses cookies to facilitate the auto-login feature. Not only does this authenticate your membership and provide you with all the benefits associated with this service, but it expedites your login by storing your information so that you do not have to enter it each time you access the site.

● If you are already registeredplease continue to enjoy uninterrupted access with your existing username and password. Not registered yet? Please take a moment to register to continue access to all of Foodmarket's features.


Copyright © 2017 Foodmarket.com ● 732-240-5330 ● editor@urnerbarry.com