FMI and the Food Industry Well Represented at the CRC

By: Steve Markenson, Vice President, Research & Insights, FMI

Last week's sold-out Insights Association Corporate Researchers Conference (CRC) in New York City is an indication of the growing importance of research and insights to the food industry. The conference was developed by corporate researchers for corporate researchers and draws leaders and research practitioners from brands large and small across all industry verticals to connect with innovators and decision-makers. For the past two years, FMI's research & insights practice (myself and Allison Febrey) has worked with the conference planners on content and promoting attendance. Along with a number of member companies making presentations and/or leading sessions, I led two sessions:

Sorting Through the Value Matrix: FMI's U.S. Grocery Shopper Trends with Sam Trimboli of Northeast Grocery

Shoppers today weigh more than just price, taste and convenience when they shop for groceries, as considerations regarding convenience, sustainability, health and well-being, and more go into their grocery shopping decision-making. Americans have already lived through a pandemic, and they continue to navigate economic uncertainty, including high food inflation. These macro influencers have made shoppers increasingly aware of how their food comes to market. Attendees at our session gained a deeper understanding of the national trends in grocery shoppers' changing habits and behaviors over the past few years and looking ahead to 2025. Sam and I explored in detail shoppers' weekly spending, primary store choice and engagement with the emerging array of online and in-person grocery options. We examined the diverse lexicon of shopper behaviors based on FMI's U.S. Grocery Shopper Trends research and insights from our knowledge partners.

The State of the Food Industry with Chris Costagli of NielsenIQ

FMI and NIQ (NielsenIQ) led a discussion about the latest issues impacting the food industry. Over the past five years, the food industry has navigated the COVID-19 pandemic, supply chain issues, food inflation and more. We explored a range of issues focused around two areas:

1. The evolution of shopper behavior — channels and banners shopped, online versus in-store grocery shopping, new competitors — who is selling food, impact of inflation/ food prices, shopper sentiment towards grocery shopping, use of technology when shopping, shopper's evolving perceptions of value, etc.
2. Emerging ways of communicating/marketing — Retail Media Networks, use of social media, impact of influencers, role of apps and AI, personalization and customization, in-store approaches — circular, point-of-sale, etc., online — digital circular, web site, coupons, etc., shopper behavior — prudent, just in time, savvy shoppers, shoppers desire for transparency and so much more. We had a dynamic, interactive discussion with attendees, where we showcased the latest industry data and insights and attendees shared their experiences and perspectives, sparking valuable conversations.

Some of the retailers who attended the CRC included Kroger (84.51°), Walmart, Amazon, Publix, K-Vat Food City, Northeast Grocery, HEB, Harris Teeter and Ahold Delhaize, along with a wide range of food suppliers such as Hormel, Sargento, Mars, Nestle, PepsiCo, Clorox, Kellanova, WK Kellogg's, Proctor & Gamble, Johnsonville, Rich's Foods, The Hain Celestial Group and more. The conference has grown from about 650 attendees two years ago to a conference record of more than 1,000 this year. The conference will take place in Chicago next fall and I cannot wait to attend.

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