During a recent webinar held by Chicagoland Food and Beverage Network and Winsight fairlife CFO Andy Arquette made some of the following briefly summarized observations.
Consumers are not taking time to look at displays in stores. If they do go in instead of doing delivery or curbside pick up they are just going in and out. So the challenge is how to communicate what’s new
Buying new products and interest in innovation will come back but even past the pandemic consumers will be interested in how to live healthier.
Businesses have to be flexible. They should look at the range of what is and what can happen.
It is human nature to be interested. Consumers will not be the “boy in a bubble.” There is a little light. It will come back the second half of the year.
There will be a bump on the supply chain because of pent up demand.
The year 2020 went haywire regarding supply and demand. Some prices fell and some rose in the commodity market and will continue to do so.
There was a lot of government interaction but expect to see some pullback.
Businesses can expect to see more foot traffic but will also have to provide consumers what they want where they are.
When asked about automation Arquette spoke of employee safety and product quality plus focusing on employees’ physical and mental health.
For more info on the CGBN/Winsight webinar visit Chicaolandfood/event.