Food Deals Breather For The High Price-hit Consumers

By Author: Matt York
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Local daily group buying deals are slowly and gradually becoming an integral part of food and beverage retail industry. Or you may put it in this way that discounters have come to a position to acquire major shares in the global retail food market on the back of skyrocketing popularity of the food deals.

A global analysis of food and beverage retail industry bear this out rather with statistical references. The food and beverage retail market is nearing $10 trillion and it says discounters, supermarkets and hypermarkets will contribute nearly 50 per cent to the total revenue.

Driven by the approach of discounts to the buyers who opt for group purchasing, daily deals websites are the phenomenon of this decade. Groupon pioneered the group buying in November 2008 in US. Within a short span since then, the daily discount market rose leaps and bounds offering shoppers local deals of leisure, wellness, health, household and restaurants. The daily local deals carry with them incredible discounts of 50 to 90 per cent.

Only in 2010-11, daily discount sector recorded a whopping growth rate of 250 per cent reaching ...
... to the size of $377 billion.

Group buying sites, which have been taken aback by the interest of buyers in price concession-bearing local deals, also generate whopping revenues by promoting printable vouchers, online coupons, and promotional codes. Freshly introduced flavors or quirky cuisines go popular among consumers because of the incentives they are attached with.

Experts attribute this growth to the implications of financial downturn that hampered the growth of developed economies. Rising food prices drive a major shift in the buying patterns with people preferring to buy convenience foods which are low priced and easy to cook.

Ready to eat foods and frozen food market are expected to be on the upward trajectory in the years to come also because of the increasing urbanization, according to an international report. However, financial crisis squeezed the sale volume of restaurants and only those eateries succeeded in offsetting the impact which had low price options.

Daily deal sites that are still focusing on wellness, travel, etc. deals should realize the potential of food market as buyers hunt for food coupons or are foraging for daily deals of groceries and food and
beverages to face up to the food price inflation.

While staple foods and beverage retail industry is taking energy from mainly the developing economies as a number of developed economies has reached saturation points, health concerns in US and European markets are in fact carving out niche buying segment of organic and diet foods.

Last year, Cargill, Pepsi, and Coke introduced their brands of herbal sweetener, stevia, to cash in on the propensity of US buyers to zero calorie sweetener.

Pepsi has acquired Brazilian coconut processing company Amacoco Nordeste to grasp its share in the world coconut water market of $20 to 35 million.

Daily-discount market and the new players must concentrate on the niche markets of restaurants and dining deals in order to tap the potential laden food and beverage market, IBIS World analyst advices.

Author Bio:
Tariq Saeedi is an expert writer and editor, he has been writing for several online and offline publications. He holds a marketing degree and currently working for Group Buying Website, Dealaboo – www.dealaboo.com

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