A massive opportunity for food businesses right now is to understand the rising demand around conscious consumerism, and how they can adapt their practises to better align with customer expectations.
There’s no denying that we all want to live in a better world, right? But perhaps, for some that is more important than it is for others. Take millennials for example – the generation born between 1981 and 1996 – who are fast becoming one of the most committed groups dedicated to conscious change around equality, climate change, peace and consumerism.
Not only do these pioneering Gen Ys seek to work for more diverse, inclusive and transparent workplaces, but this also comes across in their purchasing behaviours more than any other generation to date.
Social awareness of issues such as sustainable supply chains, living wages, animal welfare, packaging, food waste and overall impact on the planet are dictating the brands consumers trust and purchase from.
With the buying power of millennials now coming into full force, it makes sense for smart operators to adjust in key areas in order to get an edge over their competition and remain relevant in today’s ever-evolving market space.
Here are four basic areas to assess in order to keep up with customer’s beliefs and values.
MEATLESS OPTIONS
Younger generations are known to eat less meat than those of older groups. While not all are vegans or vegetarians, many are choosing to cut back on their animal in-take and lean towards plant-based food options to lessen the load on the planet while prioritising a healthier diet. Many companies have capitalised on this movement, offering consumers delicious tasting synthetic meat options that are derived from plants, giving them the chance to enjoy the traditional foods they know and love such as burgers, dumplings and fast-food. Including a sustainable food range within your product suite, gives you the opportunity to tap into this fast-growing market, which due to our current environmental landscape, is unlikely to slow down.
TRANSPARENCY ETHICALITY
On top of this, consumers are becoming more interested in the production line and transparency around how food got to their plate and into their tummies. There was a time not so long ago where as long as food tasted good, that’s all customers cared about – now, they want to know how ethical their meals and snacks are, and what practices they are supporting by eating the food that they’re buying. In fact, according to research by Innova Market Insights, transparency will be one of the top trends for the food and drink industry in 2021, with six in 10 global consumers interested in learning more about where foods come from. This of course stems from the broader momentum around sustainability. Finding ways to communicate transparency around your food products or services will go a long way in instilling faith and loyalty among customers now and in the future.
FIND WAYS TO SHOW YOU CARE
What does your company stand for? Companies that have principal-led practises that stand for something, will go far among today’s conscious consumers. Whether you’re a supermarket, a butchery, a tourist operation or even a school canteen – by centering your food business around a clear purpose that seeks to make a difference can be a game-changer in what customers you attract as well as the ones who will keep coming back.
THOUGHTFUL PACKAGING
Food businesses have long got away with thoughtless, single-use packaging that ends up as toxic pollution in our waterways and land-fill. Consumers are now demanding better and are voting with, you guessed it – their dollar. Investing in recyclable packaging that does not place burden on the planet will be much more favourable among millennials and their younger counterparts.
THE FUTURE IS YOURS
These are just some of the ways your food business can ensure it’s built for the future. In the next 10 years, the food industry is likely to see changes that are inconceivable today as climate becomes more extreme and humans have to find radical new ways to better live, work and of course eat together. The reality is, this transformation is already underway, with almost nine in 10 millennials saying they would buy from companies that supported solutions to specific social issues.
To learn more about how Your Food Pal can support your business throughout all of industry’s new and emerging trends, contact our team today.
