The COVID-19 pandemic continues to have a major impact on the food & beverage industry by presenting a wide range of challenges and opportunities for management teams, employees and customers alike. Noteworthy is that purchases of consumer staples remain elevated, with consumption rates soaring when compared year-over-year — particularly, in the frozen food space (stocking the freezer). Changing consumer behaviors as a result of the pandemic drive demand for value-oriented and private-label products as consumers become more price-conscious during times of economic uncertainty.
During these challenging times, several factors remain pivotal to the overall success of the industry, including strong communication demonstrated by executive leadership teams, revolving around a message of enhanced workplace safety.
To view full report, please select the link: Food & Beverage Industry Update Spring 2020.