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Categories
100 Days of Innovation
About Jim Carroll About the recession Articles Branding & marketing Change Faster Gen-Y & Gen-Connect Global economy How to be innovative Human capital issues Industry - Agriculture Industry - Associations Industry - Consumer & food Industry - Education Industry - Financial Industry - Health Care Industry - Hi-tech Industry - Manufacturing Industry - Prof. services Industry - Retail Innovation Keynotes Leadership Press Strategy Trends Video |
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Jim Carroll's blog | ||||||||||
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Recent video clips
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I'm in Manhattan tomorrow, speaking at an event for food, advertising and packaging companies on behalf of Readers Digest Food & Entertaining Division. I'll be offering a late morning wrap up of observations about the high-velocity change that continues to envelop the sector, particularly the following trends. Dig through the blog -- particularly, the retail or consumer product categories -- and you'll find a little bit more insight about each of them.
Here's one of the statistics in my deck -- 71% of consumers are choosing to prepare meals at home rather than eating out; restaurant trips have declined from 1.5 times a week in 2006 to 1.2 times today. These statistics, from the Food Marketing 2008 US Grocery Shopper Trends report, came out before the economic challenges of mid-September and the problems on Wall Street. One of my key messages is that we live in a time when "volatility is the new normal" -- a mantra I've been using for years -- and food companies must learn to innovate faster to capitalize on such fast moving trends. We'll probably see this particular trend pick up steam -- and there's opportunity for new advertising messages, branding campaigns, not to mention new product offerings! Faster is the new fast!
Permanent link to this item ...posted September 23, 2008
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