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Consumer Trends

Consumer trends, insights and preferences

Consumer Trends

Good service may raise profits in tough economic times

In the current economic climate, 61 percent of Americans see service as especially important and they are willing to spend 9 percent more when a company provides outstanding service, according to the American Express Global Customer Service Barometer. Similar results were found worldwide. Indian and Japanese consumers are ready to pay 11 percent and 10 percent more respectively for good service.

Consumer Trends

Gift card sales on the rise

U.S. branded gift card sales grew monthly from February through June this year, according to research from First Data. Much of the growth was attributed to gift card malls (large gift card displays from a variety of merchants common in grocery and discount stores).

A vast majority of American adults say they enjoy cooking but they only prepare two in five meals at home, according to a survey conducted by the Harris Poll in May.

Executives at food and beverage companies predict improved revenue and profitability this year and next, with 59 percent expecting the sector to recover ahead of the economy as a whole, according to the latest KPMG survey.

The 56th Summer Fancy Food Show, organized by the National Association for the Specialty Food Trade (NAFST), took place from June 27-29 in New York City. It’s the largest marketplace for specialty food and beverages in the U.S., with 2,400 exhibitors from 80 countries showcasing 180,000 products. The NAFST picked a panel of food experts to spot the major trends at the show. Here's what stood out.

Of consumers surveyed during May and June by Market Force Information, 25 percent said they plan to eat out more over the next three months. That’s a significant jump from the December, 2009 survey, when just 5 percent responded with the same intention.

Good old-fashioned cookies and cake will never go out of style, but these classics must now compete with trendy treats that capture the collective sweet-tooth. According to The Food Channel’s “Top 10 Dessert Trends for 2010” list, bite-size chocolate cake, beer for dessert and new flavor combinations are just some of the latest sweets to come out of the pastry kitchen.

A majority of diners approve of the new healthcare bill requiring all restaurants with 20 or more locations to include calorie counts on menus, according to new research from Mintel.

Doing away with daily expenses like morning coffee and bottled water, Americans are taking all measures to cut back on spending, according to the latest Harris Poll.

Although the economy may be improving, research by the Nielsen Company illustrates that consumers are still being cautious when it comes to buying alcohol. This trend has led to more people staying in and purchasing less expensive products.