Press Release |
IRI Expert Presents the ''State of the Snack Industry''
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Presentation Outlines Industry Trends and Growth Opportunities for Convenience Store Operators CHICAGO--(Business Wire)-- IRI: WHO: Sally Lyons Wyatt, Senior Vice President, Client Solutions, IRI WHAT: 2007 was a particularly challenging year for the snack industry. Manufacturers faced sharp increases in commodity costs, shrinking display space at retail and stepped up private label competition. Consumers faced substantial product price increases on already-tight budgets, while trying to make changes to improve the healthfulness of their diets. In the end, total industry demand was flat; dollar sales growth was largely due to price. Yet, despite these challenges, the convenience store channel delivered solid growth across snack categories in 2007 overall. And, while convenience store snack sales softened in the back half of the year and in early 2008, they are back on the upswing. In this address, consumer snacking trends expert Sally Lyons Wyatt will explain the drivers behind industry performance and will showcase innovative brands, marketing and in-store tactics. Leveraging insights from IRI's annual Consumer Snacking Study, based on extensive primary consumer research and analysis of consumer purchase behavior, she will highlight distinct growth opportunities for the coming year through new products, marketing and merchandising. WHY: The rules of the game have changed. While shifts in consumer snacking behavior have historically followed a slow, evolutionary path, as we have seen in the transition from indulgent to healthier snacking, we are now seeing more dramatic change. The economy--price increases, in particular--has driven substantial changes in both shopping and purchase behavior during the past year, and all indicators suggest that further change is likely. In addition, consumers are now considering a broader range of factors in snack choices that include not only nutrition and calories, but also disease management and prevention benefits. Factors such as how an item's production has impacted the environment are also increasingly important. Both manufacturers and retailers need to understand the new rules to differentiate their snack offerings in a crowded market. This presentation will address such critical questions as: -- Which segments of the snack industry are enjoying true demand growth? -- How have price increases impacted shopping and purchase behaviors? -- What product attributes will be in high demand? -- How have consumer attitudes towards healthier vs. indulgent products changed? -- How can consumer communication strategies deliver competitive advantage? WHEN: April 14, 2008 8:30 a.m. CDT WHERE: 5th Annual CSP Snack & Candy Category Review San Antonio, Texas www.cspnet.com About IRI IRI is the world's leading provider of consumer, shopper, and retail market intelligence and insights supporting 95 percent of the FORTUNE Global 500 consumer packaged goods (CPG), retail and healthcare companies. Only IRI offers the unique combination of integrated market information, automated and predictive analytics, innovative enabling technologies, and domain expertise. With IRI, leading retailers and manufacturers are able to quickly discover breakthrough insights driving smarter decisions and actions across the enterprise for breakthrough results. Companies around the world depend on IRI for improved productivity, stronger brands, and dramatic revenue growth. For more information, visit http://us.infores.com. IRI John McIndoe E-mail: firstname.lastname@example.org Phone: (312) 474-3862 Shelley Hughes E-mail: email@example.com Phone: (312) 474-3675 Copyright Business Wire 2008