Restaurants are increasingly releasing private-label products
Trend - Private label products from restaurants are on the rise as popular establishments look for ways to maintain revenue in light of in-person dining restrictions. These businesses are releasing a range of items--everything from branded seasonings to assorted grocery pick-ups.
Insight - Consumers around the world are limited in their dining options--with many places still restricting the number of people allowed in establishments, as well as having physical distancing rules in-effect. For those who are still taking the ongoing pandemic seriously, in-person dining is simply not an option even with safety precautions in place. These consumers expect that brands find creative ways to come to them in their own homes, in order to keep their business.
Insight - Consumers around the world are limited in their dining options--with many places still restricting the number of people allowed in establishments, as well as having physical distancing rules in-effect. For those who are still taking the ongoing pandemic seriously, in-person dining is simply not an option even with safety precautions in place. These consumers expect that brands find creative ways to come to them in their own homes, in order to keep their business.
Workshop Question - How is your brand adapting to changed consumer behaviours?
Trend Themes
1. Restaurant-branded Products - Restaurants are creating branded products to generate revenue and reach customers at home.
2. Ready-to-prepare Meals - Companies are expanding into the meal kit and frozen meal space to offer restaurant-quality food for consumers to cook at home.
3. Branded Home Goods - Restaurants are creating branded home goods to enhance the at-home dining experience for consumers.
Industry Implications
1. Food and Beverage - Companies in the food and beverage industry can capitalize on the trend of restaurant-branded products, ready-to-prepare meals, and branded home goods to reach customers at home.
2. Retail - Retail industries can benefit from the trend of ready-to-prepare meals by expanding their frozen food options and partnering with restaurant brands.
3. Hospitality - The hospitality industry can expand into the meal kit and branded home goods space to offer customers a complete dining experience from the comfort of their own home.
