IRI Research says PL share in snacks increased in US
Posted by Turgut Ziyal on Wednesday, March 24, 2010
Under: consumer research
According to a new research from Information Resources Inc. (IRI), snack food volume declined about 1 percent in 2009 in US, driven by decreases among some of the segment's top performers, including chocolate candy (-6 percent), cookies (-5 percent) and crackers (-3 percent). But thanks to a 4 percent average price increase across categories, total snack food dollar sales edged up about 3 percent from 2008 to 2009, salvaging what could have been a poor year for the segment. Categories that registered better-than-average dollar sales growth included salty snacks (+7 percent), non-chocolate candy (+4 percent) and chocolate candy (+4 percent), all of which also posted some of the segment's most significant jumps in price.
The research revealed that many consumers have adopted more conservative snack habits: 42 percent are cutting spending on snacks, 31 percent are snacking less frequently, 26 percent are trying to make household snacks last longer, and 22 percent are eliminating unplanned snack purchases.Eighty percent of consumers are looking for the best value when they buy snacks. IRI findings say that value can mean more than just price, including brand, taste, nutritional value, and convenience.The same reserach also says that store brand snacks did particularly well last year, as unit share expanded from 11.7 percent in '08 to 12.5 percent last year, and dollar share grew from 8.5 percent to 9.1 percent.
Forty-five percent of consumers switch to store brands when the budget is tight. According to the report, snacks play two distinct roles: 32 percent of consumers view them as an important part of a healthy eating plan, while 60 percent eat snacks just for enjoyment, not hunger. But, while both segments show pockets of growth, healthier snacks have momentum on their side. Healthy snacks’ volume increased 1 percent in both 2008 and 2009 while indulgent snacks’ volume fell 2 percent in 2008 and 1 percent last year. As a result, healthy snacks’ share of the segment expanded from just 29 percent in 2005 to 37 percent in 2009 while indulgent snacks' share fell from 71 percent to 63 percent.
According to the report, 40 percent of consumers seek snacks that offer benefits beyond basic nutrition — to help them stay healthy and avoid high-cost medical procedures (81 percent), to help them lose weight (65 percent), and to help them manage a particular health condition (61 percent). It noted that new products designed to deliver health-related benefits have been well-received by consumers.
The report also said that many consumers are snacking at home and from home in order to save money. In fact, it revealed, 71 percent of consumers bring snacks from home in order to avoid paying more elsewhere (the movies, sporting events, travel, etc.).
The findings said more consumers than ever are pre-planning snack purchases (28 percent) and most expect to continue to do so post-recession (23 percent), so "getting on 'the list' is critical.
For more information or to download the report in its entirety, you may visit www.infores.com.
Source: PL Buyer
The research revealed that many consumers have adopted more conservative snack habits: 42 percent are cutting spending on snacks, 31 percent are snacking less frequently, 26 percent are trying to make household snacks last longer, and 22 percent are eliminating unplanned snack purchases.Eighty percent of consumers are looking for the best value when they buy snacks. IRI findings say that value can mean more than just price, including brand, taste, nutritional value, and convenience.The same reserach also says that store brand snacks did particularly well last year, as unit share expanded from 11.7 percent in '08 to 12.5 percent last year, and dollar share grew from 8.5 percent to 9.1 percent.
Forty-five percent of consumers switch to store brands when the budget is tight. According to the report, snacks play two distinct roles: 32 percent of consumers view them as an important part of a healthy eating plan, while 60 percent eat snacks just for enjoyment, not hunger. But, while both segments show pockets of growth, healthier snacks have momentum on their side. Healthy snacks’ volume increased 1 percent in both 2008 and 2009 while indulgent snacks’ volume fell 2 percent in 2008 and 1 percent last year. As a result, healthy snacks’ share of the segment expanded from just 29 percent in 2005 to 37 percent in 2009 while indulgent snacks' share fell from 71 percent to 63 percent.
According to the report, 40 percent of consumers seek snacks that offer benefits beyond basic nutrition — to help them stay healthy and avoid high-cost medical procedures (81 percent), to help them lose weight (65 percent), and to help them manage a particular health condition (61 percent). It noted that new products designed to deliver health-related benefits have been well-received by consumers.
The report also said that many consumers are snacking at home and from home in order to save money. In fact, it revealed, 71 percent of consumers bring snacks from home in order to avoid paying more elsewhere (the movies, sporting events, travel, etc.).
The findings said more consumers than ever are pre-planning snack purchases (28 percent) and most expect to continue to do so post-recession (23 percent), so "getting on 'the list' is critical.
For more information or to download the report in its entirety, you may visit www.infores.com.
Source: PL Buyer
In : consumer research
Tags: snacks iri "private label" chocolate candy gum "salty snacks"
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