FMI: Shoppers Feel Confident About Holiday Grocery Budgets
Despite ongoing concerns about food prices, shoppers feel more confident in managing their grocery budgets ahead of the holidays, according to FMI —The Food Industry Association’s annual U.S. Grocery Shopper Trends: Holiday Season report. These findings are further supported by FMI’s newly released ninth-annual Power of Foodservice at Retail report, which found that retail foodservice purchases continue to play a key role in shoppers’ meal preparation.
Consumers report a strong sense of excitement and enthusiasm for the holiday season despite concerns about rising prices and grocery budgets. Seventy-three percent of those celebrating holidays report feeling very or somewhat excited about the holiday season. Furthermore, with 85% of shoppers reporting at least some control over their grocery budgets, shoppers are feeling more prepared to tackle holiday shopping this year.
“While consumers remain understandably concerned about the cost of food impacting their holiday meal preparations, we continue to see remarkable resilience and adaptability among shoppers,” said FMI President and CEO Leslie G. Sarasin. “Whether it be shopping deals and sales or choosing store brands, Americans are stocking up and preparing for the holidays early and eagerly.”
The “hybrid” approach to meal preparation – which integrates retail foodservice items like deli-prepared foods into weekly grocery shopping – is also increasingly popular, with shoppers reporting they prepared and ate more dinners at home in 2024 than at any time since 2020. Shoppers recognize that semi- or fully-prepared items from their food retailer are valuable, budget-friendly options to supplement or even stand in for a meal cooked from scratch at home.
In 2024, according to NIQ, sales of retail foodservice prepared foods increased by 1.4% to roughly $50.9 billion. This trend is expected to continue into the holiday season as well, with 13% of shoppers reporting they will purchase more prepared foods from food retailers compared to last year.
Among those who celebrate this holiday season, nearly 60% of shoppers said that enjoying harmonious, quality time with family and friends is the most important ingredient for a successful holiday, followed by 32% who cited creating a great homemade feast. To make these goals a reality, 40% of consumers are preparing for the December holidays more than a month in advance.
FMI’s U.S. Grocery Shopper Trends: Holiday Season survey also revealed:
- Weekly grocery spending has remained consistent this year, with an average of $158 per week.
- 39% of holiday shoppers are extremely or very concerned about potential out-of-stocks for key ingredients. Among families with children, this concern rises to 44%.
- 46% of shoppers say they would prepare a familiar alternative dish if their preferred ingredients were unavailable, and 30% are willing to try a new recipe.
FMI’s The Power of Foodservice at Retail 2024 survey also revealed:
- Total deli sales reached approximately $450.9 billion, reflecting a growth rate of 1.4% in dollars and 1.2% in units over the past 52 weeks. Shoppers’ desire for convenience and affordability is driving this trend.
- 70.7% of households buy foodservice at retail products regularly, with an average purchase frequency of 9.5 times per year and an average transaction size of $8.30.
- The frequency of shoppers preparing dinner at home at least seven times per week increased slightly this year from 21% to 23%.
- 63% of shoppers say they put at least some focus into eating nutritious options when buying deli-prepared foods from grocery stores.
- 59% of shoppers want the opportunity to buy a combination of prepared foods – main course, sides dishes and dessert for a set, discounted price.
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Imperial Dade Acquires Arizona’s Excell Direct
Imperial Dade, a leading North American distributor of foodservice packaging supplies, industrial products, and janitorial supplies, has acquired Excell Direct, LLC. The transaction represents the 91st acquisition for Imperial Dade under the leadership of Robert and Jason Tillis, chairman and CEO of Imperial Dade, respectively. Financial terms of the private transaction were not disclosed.
Founded by Stewart and Crystal Leary, their tireless work ethic and customer first approach has helped Excell become a premier distributor of foodservice and janitorial products in Arizona. The company commands an exceptional reputation in the market and operates with the same hyper focus on customer service as it had when it was founded. By leveraging Imperial Dade’s market leading platform, Excell’s customers can expect the same exceptional customized service coupled with an even diversified offering of products and solutions.
“I enthusiastically welcome Stewart, Crystal and the entire Excell family to Imperial Dade. This is a perfect fit without our growing organization and we are excited for this next chapter of profitable growth,” said Robert Tillis. “Imperial Dade continues to expand its presence in Arizona, and we are looking forward to continuing together in our mission to organically grow and provide unmatched customer service across North America,” said Jason Tillis.
“On behalf of Excell Direct, we are thrilled to be part of Imperial Dade. They share the same relentless focus on delivering the best service and product offering to the customer. We look forward to the next chapter together and strengthening our vendor relationships,” said Stewart Leary, CEO & president of Excell Direct.
Founded in 1935, Imperial Dade serves more than 120,000 customers across North America. Since Chairman Robert Tillis and CEO Jason Tillis assumed their roles in 2007, the company has grown both organically and through acquisitions to become a leader in the foodservice, packaging and janitorial supplies industry. For additional information, visit www.imperialdade.com.
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Legacy Food Group Hires Laurie Bergman as CFO
Legacy Food Group has hired Laurie Bergman, a highly experienced financial executive, as chief financial officer.
With a distinguished career spanning over two decades, Bergman has a proven track record of success in both private equity-backed and public companies, with significant accomplishments in mergers and acquisitions, corporate finance and financial operations.
In her previous roles as CFO of Liquid Environmental Solutions, a leading provider of turnkey solutions for non-hazardous liquid waste management, as well as her many leadership roles at UGI Corporation, a fortune 500 energy marketer, Bergman oversaw finance-related activities, including growth strategy, corporate financing, and managing the relationship with the private equity sponsor and corporate boards. Both LES and UGI successfully integrated numerous acquisitions, many of which were family-owned regional businesses.
“I am delighted to join this innovative platform, which is built on the foundation of successful, long-standing operators. Their expertise and commitment to excellence are the backbone of our business. I am excited about the opportunity to contribute to our growth and success in a dynamic and important industry.”
“We are thrilled to welcome Laurie as our new chief financial officer,” said Steve Push, CEO of LFG. “Laurie has a tremendous background in finance, strategic growth, and value creation. She understands the foodservice industry with her strong prior experience, and her proven track record in mergers and acquisitions, finance, and strategic planning make her an invaluable addition to our leadership team.”
Bergman holds a master of business administration and a bachelor of business administration from Temple University. She is a certified public accountant and a certified management accountant. Additionally, she serves on the boards of Arq Inc. and QNB Corporation, bringing her expertise to audit and strategic planning committees.
Bergman’s hire reinforces Legacy Food Group’s commitment to investing in a world class leadership ream, and to driving growth and operational excellence for its divisions through strong financial leadership. Her experience in M & A, corporate financing, and strategic initiatives will be crucial as LFG continues to expand its footprint to new markets and acquire new divisions.
Legacy Food Group is a holding company created to acquire high-quality regional independent distributors that will become owned operating divisions. By knitting together multiple distributors, Legacy Food Group will achieve macro-scale with micro-market nimbleness, preserving the differences that work for independents while achieving synergies that can greatly benefit members.
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