VALUE, RECOVERY AND OPPORTUNITY
“The rocky road to economic recovery is paved with opportunity, but navigating that road
is complex, as nearly one-quarter of consumers struggle to make ends meet.” That was the
message sent by Sally Lyons Wyatt, executive director of client strategy and insights for Sym-
phonyIRI Group in her State of the Snack Food Industry report at SNAXPO 2012 in Phoenix.
“Still, snack frequency is up, and snacks are playing an important role in both wellness-and
indulgent-related food rituals. That these rituals are largely playing out at home and from
home is a boon to snack marketers.”
Even though consumers are more conservative, they are snacking more today than just
a few years ago. In fact, the number of consumers snacking three or more times daily has
increased sharply since 2009, and consumers snack even more as they get older.
“Snack marketers are faced with huge opportunity as the U.S. population ages,” Lyons
Wyatt said. “But, snack marketers need to proceed with caution in this fragile economic en-
vironment. Value is critical, so finding the right pricing lever is paramount to driving category
growth, capturing share of snack spending and retaining and building customer loyalty.
Yesterday’s strategies are being met with diminishing returns, and a new day is dawning for
More than 70% of consumers are actively looking for the best value when buying snacks,
and that pricing is a top consideration with 36% of consumers saying brand decisions are
heavily influenced by price. "Plus, 90% of consumers are trying to eat healthier, and many
view snacks as part of their overall dietary plan," said Lyons Wyatt. It comes as no surprise
66% of consumers polled want retailers to clearly identify healthier products in the store.
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out the day, seeking snacks that provide
fuel between traditional meal parts.”
Among the other findings in
Technomic’s Snacking Occasion
Consumer Trend Report:
• Impulse purchases of snacks are
up from two years ago, as 62% reported
that most of the snacks they purchased
for away-from-home consumption were
• More than 33% of consumers expect
to eat more healthful snacks in the coming year, indicating greater importance
for operators to offer and promote
The one subcategory that is beginning to stand apart from the others is
meat snacks, said Christopher Clark,
vice president of operations for the Snack
Food Association (SFA) in Arlington Va.
The association tracks movement of 12
Circle No. 68 on the Inquiry Card