Dan Frommer, founder and editor in chief of the New Consumer, talks about 2023 consumer trends, big moves in consumer packaged goods and retail, and the future of the food industry. The hosts also discuss their cooking resolutions for 2024, food retail trends in Japan, the use of drug V for weight loss, the impact of TikTok Shop on shopping, challenges and successes in the CPG industry, favorite breakfast foods and desserts, and cooking resolutions for the new year.
Many young consumers prefer well-prepared vegetables over fake meat substitutes, indicating room for innovation in the plant-based meat alternatives market.
The Japanese market is witnessing a rise in demand for branded and convenient healthier snack options, with products marketed as high in protein and low in carbohydrates.
Box grocery businesses, like Blue Apron, need to focus on increasing revenue and expanding their reach beyond the lunchtime market to disrupt traditional grocery and restaurant sectors.
Deep dives
Growing Interest in Plant-Based Diets
Many young consumers express a desire to eat more plant-based foods. However, when asked about their preferences, they tend to lean towards wanting well-prepared vegetables rather than fake meat substitutes. This shows that there is still room for innovation in the plant-based meat alternatives market, as consumers are looking for more options that simulate the taste and texture of real meat.
The Rise of Healthier Food Options in Japan
During a recent trip to Japan, the podcast host noticed the emergence of healthier food choices in convenience stores. There has been an increase in products marketed as high in protein and low in carbohydrates. This trend reflects a shift towards more modern and branded healthier snack options, showcasing a demand for nutritious and convenient food items in the Japanese market.
Challenges Faced by Box Grocery Businesses
The podcast delved into the evolving landscape of box grocery businesses, using Blue Apron's experience as an example. Blue Apron, one of the pioneers in meal kit subscriptions, faced challenges due to high customer acquisition costs and high churn rates. While meal kits have gained some market share, they have not significantly disrupted traditional grocery or restaurant sectors. The discussion highlighted the need for box grocery businesses to find ways to increase revenue per customer and expand their reach beyond the lunchtime market.
Using More Appliances in the Kitchen
One of the resolutions is to utilize more appliances in the kitchen, such as a waffle iron and a rice cooker, for a wider range of cooking options and to take advantage of the available counter and cabinet space.
Getting Into Bread Baking
The resolution is to start baking bread, specifically trying out recipes from Maurizio Leo's 'The Perfect Loaf' to gain a deeper understanding of breadmaking and to finally dive into the world of homemade bread.
Dan Frommer is the founder and editor in chief of the New Consumer, an influential publication that covers the intersection of technology and consumer brands—and many of these brands live in the food world. We wanted to have Dan on the show to talk about his year-end consumer trends report, as well as just to shoot the shit about the big stories of 2023: the big moves in consumer packaged goods and retail, and what the future holds for our current United States of Ozempic. It’s so great catching up with Dan in the studio.
Also on the show, Aliza and Matt go over some of their cooking resolutions for 2024, including making bread, working that pizza, and much more.
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