The newsletter has been presented to food entrepreneurs in EDEM
The first ‘Competitive Intelligence Bulletin’ created by Bankia and the Chamber of Commerce of Valencia points as future challenges for companies in the agri-food sector the need to produce more attractive foods for the ‘millennial’ generation – born in the 1980s and 1990-, as well as more simple and healthier and more individualized, all in a more technological, transparent purchasing process aimed at a consumer with new life habits.
The study, which will be updated quarterly, analyzes consumption trends in the food sector and concludes that the new generations are willing to pay more if the products are transparent in the labeling or if they are acquired in a simple way. Soon it will focus on the evolution of other market segments such as tourism, already under development.
‘Trends, future and innovation. New business models in the food sector ‘was presented on Tuesday at the EDEM Business School of Valencia by the president of Bankia, José Ignacio Goirigolzarri; the one of Camera, Jose Vicente Morata; the director of Advice of this institution, Jesús Navarro, and the general secretary of EDEM, Hortensia Roig. They have presented their conclusions to dozens of representatives of food companies in the Region.
The first joint report between the two entities focuses on a “strategic” sector and “the most relevant” in the region, with the objective of “making the difficult easy” and “generating certainty” for the companies, Morata said. In addition, it tries to promote an “ambidextrous” business model in which companies “guarantee their survival in the short term and think about their long-term future”.
For all this, it analyzes the keys of an “unprecedented change of era” in terms of consumption, in which the purchasing process has become more important to an increasingly individualized and “overinformed” consumer. Goirigolzarri has stressed that the current situation, not only in the agri-food world, is “the opposite of the security that companies seek” and that, therefore, “entrepreneurs are more necessary than ever.”
One of the first consumption trends that the research points to is the importance of brands capturing younger generations, a type of consumer that is “informed”, has an “unlimited access to all types of data”, has ” little loyalty “to the product of a certain firm and is” concerned about the environment and health “. “They have the ‘smartphone’ tucked under the skin,” said the head of House Advice, who believes that “this is the consumer that must be satisfied.”
On a technological level, the study also concludes that, since about a quarter of Spaniards already use their mobile phone to buy food, it is necessary for companies to adapt their web pages and ‘apps’. The organizers estimate that the followers to the electronic commerce will happen of 16 to 70 million in 2019 and signal the impression in three dimensions like main “revolution” in this field: “We will get to make our own food”.
URBAN BUYERS IN AN AGED WORLD
The Bulletin of Bankia and Cámara also analyzes the changes in the habits of the buyers before the predictions of aging, growth of 62% of the world population until 2050 and its greater concentration in the big cities, with a faster pace of life and ” Less time to enjoy the food. “
Thus, it shows that single-person households have already multiplied by four, six out of ten people eat out of the house and up to 17% consume dishes prepared daily, and point out as solutions that companies adapt their formats and produce instant food, but also healthy As examples, he has shown Valencian businessmen a video of an intelligent machine created by a startup in the United States and that, through a card, offers individualized menus in workplaces.
Jesús Navarro underlined the importance of “connecting” with the emotional part of consumers, who “nowadays travel in Blablacar and sleep with Airbnb”, with which he regretted that “the whole traditional tourism process has been loaded”, from Taxis to hotels and restaurants.
Along the same lines, it has highlighted the increase in the culture of responsible nutrition with the environment, given the waste of one third of the food consumed, an upturn of 16% in the organic market and up to 70% in 2020 Buyers who prefer local foods. This data illustrates the case of a German supermarket that sells in bulk, does not package any of its products and allows users to carry their own containers.
DEMAND TRANSPARENCY AND HEALTHY PRODUCTS
With all this, the report on the food sector concludes that most buyers are willing to pay more for food if they meet their demands: more transparency in the labeling, more simplicity in the shopping experience or healthier products, since only a third considers that it follows a healthy diet and 11% of the population suffers from obesity.
Health is seen by those responsible for research as the trend “transverse” to the rest and also the most implemented in companies that manufacture food, which must face 34% of citizens who suffer from intolerance. At the moment, it indicates that only 8% of the food sold is gluten-free and 7% lactose-free. “All these challenges will lead us to a completely different business model,” stressed the director of Chamber Counseling.
35 NEW PROFESSIONS
On the other hand, the study puts on the table that all these changes will lead to the creation of 35 new professions in agri-food companies because of their digitalization. Among them are those of application developer, responsible for mobile marketing, expert in sales in digital channels, digital media planner and expert in market attraction or in 3D printing.