After a slow start to the year amid the pandemic, m&a activity has since picked up: a trend he expects to continue next year, he told FoodNavigator.
“After the first lock down in the spring and the accompanied stock piling of essentials, food retailers are more likely to also stock newer, less known but innovative products and brands which they now know have robust supply chains and can deliver consistently high quality products.”
Activity will be driven by two consumer trends, he said – the desire for staple, pantry items, and also the desire for indulgence. These two ‘mega’ trends may appear counterintuitive, but they are both fuelled by the shifts in shopper behaviour amid the Covid lockdowns across the UK and Europe.
“On the one hand, staple foods with longer shelf lives are having a resurgence as consumers are increasingly cost conscious,” Kulcsar told us. “On the other hand, higher priced and indulgent products are also in demand as consumers treat themselves more regularly, especially whilst the food service sector remains partially closed…