Opportunities for food manufacturers as stressed consumers look for ‘feel-good’ products
An increasing number of UK consumers are suffering from stress, sleep deprivation and a lack of energy, and are on the look out for ‘feel-good’ products, which could provide opportunities for food and beverage manufacturers, according to market research organisation Canadean.
In 2015, Canadean said UK consumers were vowing to improve their work/life balance, reduce feelings of stress and spend more time with family and friends. According to Canadean, food and drink manufacturers that help them achieve this goal will do well in the coming year.
Consumers increasingly stressed, Canadean
Even though the UK economy is on the path to recovery, Canadean found many consumers were still worried about issues such as rising living costs and their ability to deal with everyday bills and expenses. Canadean research found that 28 per cent of UK consumers were not confident about the state of the economy, while 24 per cent indicated that they would confine grocery spending to essential needs this year as they did not have the money to spend on treats. The survey also found that 46 per cent of consumers had suffered from disrupted sleeping patterns in the last six months.
More than half of UK consumers want to reduce stress
As a result of the increased stress, Canadean said consumers were looking to step back from the pressures of everyday life and were re-evaluating what is important to them.
According to the survey, 51 per cent of UK consumers said they were going to make active attempts to reduce their stress levels this year, while 41 per cent said they were going to spend more time socialising with their family and friends.
“The turbulent nature of modern life is taking its toll on consumers and this is why many of them are trying to make active changes to their lifestyles,” said Michael Hughes, lead analyst at Canadean. “Achieving feelings of happiness will be very important to consumers and this presents a good opportunity for grocery manufacturers that offer products that help facilitate this feeling,” he said.
Consumers want products that help them relax
According to Canadean, consumers will increasingly seek out products that lead to feelings of relaxation and escapism.
They will also seek out products that are positioned around sharing with friends and family, as consumers feel favourable towards products that encourage them to visit and spend time with others.
“Consumers have a myriad of different needs when purchasing their groceries, so the desire for feelings of happiness and escapism will not revolutionise every product category or consumption occasion.,” Mr Hughes said. “However, this area definitely offers valuable pockets of growth and manufacturers should look to develop products that more clearly help people enjoy ‘feel-good’ moments of consumption that in turn help them to take a break from daily stresses,” he said.