Because of the Recession, more people are Cooking at Home
The recession has certainly changed the behavior of consumers greatly when it comes to cooking at home. A recent study by Zagat survey confirms that since the economic downturn, 61 percent of those surveyed say they’re cooking at home more than before. Not surprisingly, only 1 percent of the respondents said they’re cooking less. Although this study was specifically into the eating habits of New Yorkers, the increased trend of cooking at home is no doubt widespread across the nation as people cook to save money. There is no doubt that less people are eating out at restaurants in order to save money. With more cooking at home, I thought I’d look at who is benefiting from this trend as well as how companies with the most to reap can interact and engage with consumers online.
Supermarkets, Grocery Store and even Gourmet providores are seeing the benefits of people eating in. Many supermarkets are now printing recipes ideas as soon as you enter the supermarket in order to help consumers choose something for dinner. Companies that market core ingredients have the most to benefit, which is why nearly every supermarket has developed their own brand of private label products. One supermarket has even developed two of their own private label brands; one which is cheap and the other a little more gourmet proving consumers a real choice.
With more people cooking at home, supermarkets and grocery stores have a real opportunity to expand their consumer base during the economic downturn. One such strategy to increase market share would be to run a campaign with a CRM focus asking consumers for their contact details including email address. Then supermarkets and grocery stores could run a series of email campaigns sending weekly catalogs, discount vouchers or any other special offers. Alternatively they could send a weekly newsletter with ideas of what can be cooked this coming week with links to the shopping list making it super simple for consumers to go to the store and buy the ingredients.
The other major industries to see growth from the downturn in eating out, is both kitchen appliance manufacturers and companies that make and sell kitchen accessories or cookware. We recently were talking with a company that sells a $1000 kitchen appliance. They indicated with more people cooking at home they are nearly selling double the about of individual units than they were last year. Another manufacturer who makes a kitchen appliance for around the $100 is also seeing product sales increase. This illustrates how people still have money, but are looking longer term than just months with them prepared to invest in new kitchen appliances in order to save money.
More Cooking at Home has increased sales of Kitchen Appliances
For any company selling kitchen appliances, the key to educating consumers on how to use their products is via recipes. One such strategy for online campaigns would be via a branded Recipe Widgets which allows people to search for recipes which can be made with their products. People eat with their eyes, so making sure every recipes has a image is key to the success of any recipe based marketing program.
So if you’re tasked with increase consumers to your supermarket / grocery store or are tasked at selling more kitchen appliances, now is the time to develop an advertising campaign to take advantage of the trend of more cooking at home. Gourmet Ads can certainly help you develop either short term advertising campaigns or long multi month campaigns to hit your sales and revenue targets.