News and Trends

Costa Coffee launches ‘Lattenomics’, a report which takes a deep dive into the UK’s coffee consumption habits – the influences and impact. Lattenomics: The state of the nation from the eyes of a coffee cup 51% of consumers voted Costa Coffee as preferred high street coffee brand. Drive-Thru outlets have increased by 15% over last 12 months. Consumers twice as likely to customise drinks when ordering digitally. June 2024:  Costa Coffee, the Nation’s Favourite Coffee Shop* has launched ‘Lattenomics’, a report exploring the UK’s changing coffee consumption habits, the influences that shape it, and the impact on wider high street and societal culture. Using sales ratios and aggregated data from every Costa Coffee store and franchise partner over the last 24 months, the report provides an unparalleled insight into consumer trends in the post-pandemic era.   The findings reveal: An increased presence of coffee shops on our high streets, and how our use of coffee shops is changing. How coffee

Marks and Spencer launched its 4th Bakery & Coffee in Sidcup as part of the new store opening.  Shoppers can now get speciality coffee with a morning croissant for £3.50

Source: IGD, 12 April 2024 Our latest report,   “Eating out in 2023, reality vs expectations”   analyses how the eating out market performed last year with a particular focus on the performance of the second half vs the first half.  We compare these findings to the assumptions made in   our 2023 forecast , and provide a view on how this will impact 2024.  Key findings: 1. Eating out in 2023: a year of two halves Last year between January and July visits to eating-out establishments increased as consumers’ financial confidence rose.  However, the second half of the year saw a reversal of this trends across all sectors, with full-service restaurants being hit the hardest. Gathering momentum behind a return to offices boosted contract catering sales and initially food-to-go, but this has also declined as consumers became accustomed to their new routines and adopted cost-saving habits. 2.    Q4: consumers feel the pinch at Christmas The Christmas period saw an increase in consumer spending

Grocery leader Tesco has posted a sales rise over the first quarter of its financial year. Tesco ’s core UK business was the strongest performer over the period, growing “ahead of all key competitors” and increasing by volume. Like-for-like sales at Tesco’s UK division advanced 4.6% to £11.37bn in the period to May 25. At group level, retail like-for-likes rose 3.4% to £15.3bn. Tesco said its UK market share advanced 52bps to 27.6%, “supported by 15 consecutive periods of positive switching gains”. Food sales rose by 5%, “including strong volume growth across the quarter, particularly in fresh food”. Non-food sales inched up by 0.7%, “driven by strong growth in clothing”. Tesco chief executive Ken Murphy said: “We’ve continued to build momentum in the business, with strong volume growth across the UK, Republic of Ireland and central Europe supported by easing inflation. “We continue to be the cheapest full-line grocer and are the most competitive we’ve ever been, with our value, produc

As World Environment Day approaches, YouGov data sheds light on British consumer attitudes and behaviours regarding sustainability in 2024. The findings reveal a complex picture, highlighting both a growing commitment to eco-friendly practices and significant challenges that consumers feel need to be addressed. 1. 60% of Britons agree that climate change is the biggest threat to civilisation This sentiment is particularly strong among Gen Z, with 70% in agreement, followed by Millennials at 63%. The perception of climate change as a critical threat diminishes with age, indicating generational differences in environmental concern. 2. 21% of Britons are willing to invest more in products that favour sustainability A fifth of Britons (21%), identifying as ‘Planet Protectors’, are willing to spend more on sustainable products, driven by their commitment to environmental health. This segment shows a strong dedication to investing in products that favour sustainability, highlighting a niche

Every year, Innova Market Insights publishes our Top 10 Trends for the upcoming year. Innova’s  Top 10 Trends  serve as an indispensable roadmap to future market opportunities, encompassing every aspect of the food and beverage industry. The trends are based on wide-ranging global consumer surveys, our network of in-country researchers, and tracking of new product launches, and can therefore manifest differently across market categories. This blog will cover how the top trends for 2024 are featuring in the bakery market, and what other factors might impact these category trends.   Here we will look at five trends that most influence the bakery category: “Ingredients: Taking the Spotlight,” “Prioritizing Prevention,” “Indulging in Health,” “Nurturing Nature,” and “Local Goes Global.”   Ingredients: Taking the Spotlight  The first bakery trend is  “Ingredients: Taking the Spotlight.”  This trend relates to companies capitalizing on positive consumer attitudes toward key ingredients by pr