About 57% of Costco members are also Amazon Prime members, compared to 13% five years ago, according to a survey from MoffettNathanson. "Americans appear to be buying into the concept of owning two 'shopping' memberships as the value proposition is fundamentally different," the firm wrote in a research note.
Consumers are likely to accelerate their adoption of online grocery shopping in the wake of recent mergers and acquisitions, a Nielsen report projects. Up to 70% or 80% of shoppers will be venturing online for at least part of their groceries within five to seven years, according to Nielsen's Laurie Rains.
Actor Ryan Reynolds has become an investor and board member for Aviation American Gin, which also has named him as one of the creative directors for the brand. "About a year ago, I tried Aviation for the first time. Since that day, I've spent my time finding some way to infiltrate the company," Reynolds said.
Private labels are becoming more important to shoppers, with 53% saying they would pick a store for its private label items, according to a report from Daymon. Successful private labels also encourage innovation and price competition from national brands as consumers have come to trust store brands, the report states.
Tyson Foods has built a seven-person innovation team that is working to create a new product that will hit shelves in six months. One item in development is a high-protein snack derived from ingredients left behind during other food and beverage production processes.
Food could be imprinted with effective, edible circuitry that would allow individual items to be tracked, according to a study from Rice University. In the study, lasers were used to carve a thin layer of graphene on food that could function as a tracking chip.
Conagra Brands will sell its Del Monte processed fruit and vegetable division in Canada to the Bonduelle Group for about $34 million. Bonduelle also owns other fresh and canned produce brands including Graves and Arctic Gardens.
After a warm winter, many vintners in Napa Valley, Calif., had to face the stress of temperatures that dipped as low as 27 degrees in some areas earlier this week. Chardonnay grapes represented the largest subject of concern because some had already reached bud break, growers said.
A cold snap this week has California citrus growers implementing freeze protections including keeping the ground moist and running wind machines to warm the air, according to the California Citrus Mutual. The freeze could take a toll on the 2018-19 harvest.
Millennials' preferences are increasingly changing the way Americans eat, writes registered dietitian Cara Rosenbloom. These consumers seek transparency from food-makers, customized meals, convenience and sustainability, she notes.
- Page 1