Analyzing and predicting trends in any market is a multilayered task. Trends affecting the food industry as a whole can usually be seen in each specific market, as in the case of convenience and better-for-you foods in the specialty trade. Trends also have a tendency to feed and play off of one another as well, with each lasting a varied amount of time before either falling off the consumer’s radar or becoming a staple.
Trends in the marketplace influence every consumer’s behavior. Trends affect the food industry on a zillion levels, from specific food choices to changing meal patterns. Not all trends are the same. Some are pervasive, influencing the whole social landscape; others are really just fads. Trends have a life cycle, and the particular stage of a trend is critical in determining its connection to a particular product or service.
Trends can exist on many levels. For instance, we can talk about a growing penchant for “hot” foods or dining at home. If both are trends, might one explain the other? Does an understanding of one general sociological trend help explain a specific food trend?
Successful businesses are market-driven when they design their products and services to fulfill consumer needs. They can define the marketplace through demographics (identifiable, measurable characteristics such as
age, economic status, ethnic background, etc.), and psychographics (lifestyle or attitude characteristics).
Knowledge of today’s trends can help you develop products and promotions for the future. The world is changing at an accelerated pace. Not much looks as it did 50 years ago. Like every other industry, the food industry has had to adapt to consumer demands driven by changing lifestyles.
How to Find Out about Underlying Forces and Changing Trends
Good sources of trend information appear in the media. This includes the Internet, which is being used with increasing frequency as a communication means. Several resources look at what’s going on in the marketplace. Targeted to varying audiences, they each have their own focus and format. What they have to say is extremely valuable for developing staying power in the food world. Make your job easier by learning what the experts are saying. In addition to the professional trade journals listed in Appendix A, the following may be useful in developing a deeper understanding of consumer trends and their impact on specialty food marketing.