I recently came across a short and interesting article in my inbox that caught my attention. This article was about the downturn in the U.S. economy (especially in the restaurant industry) due to the Pandemic and Americans eating at home more often.
While it doesn’t take a rocket scientist to make this obvious connection and see the trend, it’s a quick and worthwhile read. Click here for the link.
What did catch my eye was the part focusing on McCormick (spices) gaining market share during this trend, as their spices are increasingly being purchased by people adding flavors to take-out meals ordered from restaurants. This upward trend includes their hot sauces, barbecue and Asian products.
I’d really like to see a further breakdown (I’m sure it’s out there) on Latino consumers and their more recent home meal preparations. Especially since Latinos tend to have larger households and often include older adult relatives, and the weekly grocery spend was around $20 above average compared to non-Latino Whites.
And that was before the pandemic.
What ingredients are Hispanic shoppers purchasing more of? Are there any surprise items that we’re over-indexing on? If so, what’s driving those decisions these days?
Obviously, this trend of eating at home more often isn’t going away anytime soon. It’s quite the opposite. And no food and condiment marketers want to get caught behind in another shortage of goods on the shelves. Again.
Perhaps as Americans we’ve rediscovered eating at home with the family? Check out the article from MediaPost here.