The supermarket and grocery business is likely to suffer strong headwinds in the future, due to long-term shifts in consumer behavior. Although many people don’t realize it yet, grocery shopping and cooking are in a long-term decline. They are shifting from a mass category, based on a daily activity, to a niche activity that a few people do only some of the time.
The Grocery Industry Confronts a New Problem: Only 10% of Americans Love Cooking
Making meals is becoming a niche hobby.
September 22, 2017
Summary.
The food and grocery industry feels threatened by Amazon’s acquisition of Whole Foods, but it faces a bigger but quieter threat: the long-term decline of people’s interest in cooking. Instead of ignoring this behavioral shift, food companies should become more proactive by exiting categories that have no future, focusing on super-premium products, and using technological innovation to get people excited about their product again.
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