With America’s fast-paced culture, convenience has reigned supreme as a primary benefit guiding U.S. consumers’ purchasing decisions. However, a study released by Information Resources, Inc. (IRI) shows that while the market for convenience products remains strong, consumers are now demanding a more robust convenience-based product.
The report, “Times & Trends: Beyond Time Savings: The New Face of Convenience,” examines an evolving landscape of convenience solutions responding to shifting demographics, growing consumer expectations and rising health concerns. As more Americans allot less time for dinner preparation, the demand for convenient meal solutions remains great. Demand, however, has evolved beyond simple time-saving alternatives, with consumers now requiring greater health and wellness benefits, taste and value.
Portability and portion control appear to be the primary benefits driving strong growth in the convenient snack segment. With indulgent snacks, sales of single-serve and/or multi-packs of single-serve products have risen steadily in supermarkets, drugstores and mass merchandisers.
Personal care products appear to be the next big convenience growth area. While portable personal care has been relatively low, opportunities have risen with more consumers engaging in on-the-go grooming and utilizing personal care products at the workplace.
While a handful of new convenient home care products have transformed cleaning routines, the market remains primed for additional solutions. Consumers remain interested in products that offer time-saving capabilities and “do-it-all” solutions that serve multiple needs in one package.