Consumers Still Snacking

Even with a weak economy, Americans continue to buy snacks.

March 18, 2010

CHICAGO - While consumers are pulling back on spending in many areas, they have not been skimping on snacks, Progressive Grover reports. A new report from Information Resources Inc. (IRI) found that snack foods have continued to grow.

IRI??s "Snack Food State of the Industry" report revealed that 86 percent of purchasing decisions are made while shoppers write their lists at home. Preparation before shopping has become more prevalent, including specifying which brands to buy, said Sally Lyons Wyatt, IRI senior vice president, during the SNAXPO 2010, the Snack Food Association??s annual meeting.

"So you want to be on those lists," she told snack food makers. "You need to find ways to reach consumers in their homes, and then, of course, again in the store."

IRI research found that "80 percent of consumers are looking for the best value when they buy snacks," said Wyatt. But value encompasses more than just the cost, including brand trust, taste and convenience, too.

Last year, salty snack volume sales remained the same but dollar sales jumped 7 percent because of price hikes by many snack makers. Private-label snacks gained market share because of increased quality and marketing efforts.

Healthier snack items continued its upward climb, advancing by 3 percent last year over 2008, and up 8 percent since 2005. More snacking is happening during the morning and afternoon hours than in the evening.

For more on convenience store snack foods trends, see the salty and alternative snacks "Category Close-Up" article in the October 2009 NACS Magazine.

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