Food Fight!—Online and Brick & Mortar Battle for Business
The switch to online shopping is the biggest transition to occur in grocery shopping since the introduction of the supermarket in the late 1930s. In June 2017, Amazon shocked the retail world by announcing the purchase of Whole Foods Market for USD 13.7bn. We are now clearly experiencing a revolution in the way food is being purchased, delivered, and consumed.
Of the USD 1.5 trillion American consumers spend on food, the spend on meals away from home is slightly greater than that spent on food purchases for at-home consumption (source: USDA). Of the purchases for in-home consumption, approximately 20 percent is projected to be online by 2025. These changes are indicative of a permanent change in the way food reaches the average American consumer—and if the beef industry is to stem any further decline in beef consumption, it must embrace these changes and make beef an integral part of the consumption experience… regardless of where it is purchased.
Changing consumer eating habits, combined with the escalating role of protein in the diet, renewed beef demand, and rebuilding herd numbers have provided the cattle and beef industry with momentum that can be used to further transition the way beef is sold and delivered to consumers.
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Where to go from here
Don CloseSenior Analyst - Animal Protein Read more