Shift in
Consumer Spending

Consumers turn towards snacks and convenience food rather than cooking basics

To better understand a market with many layers and drivers, the study looked at three distinct food categories: cooking staples (the largest group, contributing more than half in terms of revenue); convenience products, such as frozen and ‘instant’ foods; and impulse purchases (snacks). The stark fact is that the overall market has shrunk; this decline is reflected across all three groups and is mainly due to people buying food less often. Within that, shoppers are purchasing different types of food than previously, with many switching their budgets from cooking staples to snacks and, to a lesser degree, convenience foods.But beneath these headline findings a more complex picture emerges.