current
Shifting Consumer Demands
Changing consumer preferences and regulatory pressures are top concerns for food and beverage companies, requiring increased agility and data access.
Timeframe
immediate
Categories
Impact areas
Detailed Analysis
Food and beverage companies in the UK and Ireland are facing significant pressure to adapt to evolving consumer preferences. While cost of living remains a factor, the report highlights a shift towards prioritizing customer satisfaction and adapting to new demands. This is evidenced by 33% of organizations rating changing preferences as a significant concern, "higher than sustainability, cybersecurity and inflation." This shift necessitates a greater focus on operational agility and rapid access to data to understand sales trends and respond effectively.
Context Signals
30.6% rise in food prices since May 2021
28% of UK adults find it difficult to cope with the cost of living
Focus on improving customer satisfaction as a top business goal
Edge
Hyper-personalization of food products and services to meet individual consumer preferences
Development of agile supply chains that can quickly adapt to changing demand signals
Increased use of predictive analytics to anticipate consumer trends and proactively adjust offerings
