Gourmet Business - January 2018

I am looking forward to seeing what the New Year will look like for our industry.  So far I am optimistic based on the initial feedback I have received after speaking to many retailers that indicated that they had a good year in 2017.  There has been so much change over the past few years, and it has caused many businesses to adapt in order to survive.  As Mark Delman from NY NOW intelligently put it when we had a chance to talk shop recently, “the industry seems to have arrived at a retail equilibrium”.  Meaning that the e-commerce retailers continue to achieve significant sales results while a group of brick and mortar retailers have managed to hold their own, and figure out how to differentiate themselves from their competition.

There has been change in product development too, as you will see from the new products that are coming to market that will be showcased in this magazine in the months ahead.  Suppliers are utilizing new materials, better manufacturing methods, clever packaging and new brand messaging to make their products even more attractive to potential buyers.  Healthier eating habits are creating demand for products that help consumers prepare meals that are low in fat and high in flavor.  This includes products designed to help the preparation of fresh ingredients into finished meals.  Since the Millennial are busy working during the week, they will be challenged with making good meals with little time to prepare.  Slow cookers and one-pot meals make a lot of sense in this scenario, and there are some great additions to this product category this year.  Is the case for pressure cookers stronger than ever?  Everyone needs to enjoy a guilty pleasure now and again, and the new breed of air fryers allow consumers to enjoy some crisply cooked food in minutes, while consuming less fat than ever before.

I caught some television coverage the Specialty Equipment Manufacturers Association (SEMA) trade show recently, in which they chronicled a contest for auto customizers to choose the best modified automobiles at the show.  The industry used to only support a few very well known customization shops, but recently there have been more and more businesses being opened by craftsman that are under the age of 35 to satisfy the new demand.  The notion of making a product a reflection of the individual’s taste has spilled over into automobiles in a big way too.  You can expect this trend to cross all product categories, including our markets in the years to come.

We have been following this trend of personalization and individual choices in the tabletop markets for years.  A multitude of color and great design have allowed consumers to mix and match, and create a look all their own.  We have seen this trend also impact new housewares products, especially those that are likely to stay out on the counter, and not be hidden away.  Have you seen the Smeg Dolce and Gabbana collection toaster yet?  That is counter art, and I just have to have it!  Many suppliers have introduced the ability to monogram products as a way to support individualism too.

Now let’s bring on all of the great new products!