Are Consumers Becoming Food Fashionistas?
At last month’s Grocery Manufacturers of America Executive Conference, Wendy Liebmann, president, WSL Strategic Retail said that, “today, the speed at which Americans adopt new types of food is akin only to speed at which they adopt new fashions. This is no longer a commodity business. It’s a fashion business.”
“For a growing number of Americans, food is the latest fashion category. It is fast changing, it is fast paced, it is multi-cultural, it is trendy and quite often it’s sexy. Just like fashion,” according to Ms. Liebmann.
“Just as in the fashion industry, consumers expect to be stimulated, to be intrigued, to be enticed if they are to buy more,” she says. “They expect every day basics at affordable prices. They expect products that serve their needs, their lifestyles, their aspirations and inspirations, regardless of age, income levels, ethnicity, family life, work life, or where and how they live it.”
Moderator Comment: Is food becoming more or less of
a commodity business? [George
Anderson – Moderator]