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Value is a top priority for today’s F&B consumers

Research from global consultancy Hartman Group suggests there are six core values that brands must tap into to connect with consumers’ needs.

For today’s food and beverage (F&B) consumers, value is a top priority, driving purchasing decisions and brand selections. “Value means many things to today’s consumer, and it varies by eating/drinking occasion, food/beverage categories, and across consumers,” Shelley Balanko, Senior Vice President of Hartman Group, told Ingredients Network.

Six dimensions in the modern value equation influence F&B consumers’ purchases: Price, quantity, quality, relevance, convenience, and experience. These vary in importance depending on the context. Consumers define these dimensions based on their values, such as engagement in health and wellness, sustainability, and transparent and authentic storytelling.

“In the US today, consumers are finding value in products that help them meet their goals,” Balanko explained. For instance, consumers looking for a better quality of life or having a delightful experience will choose and buy F&Bs that reflect these. They also want to buy products they feel are priced fairly, and from brands in alignment with their values.

Pricing pressures alter purchasing decisions

However, while consumers expect value from their purchases, the F&D landscape is uncertain, presenting a complex and potentially hard-to-navigate market for manufacturers. “An environment of uncertainty stems from the unpredictability and unknown consequences of social, political, environmental, and economic events,” said Balanko.

Rather than a permanent crisis, the high inflation rates of recent years, coupled with the cost-of-living crisis, have led to a paradigm shift in what consumers want from brands, products, and services. According to a YouGov December 2024 survey, 82% of UK-based consumers said the cost of goods is increasing faster than their incomes, and they struggle to afford basic needs like food. Furthermore, 43% of shoppers expected their finances to worsen in 2025.

With these ongoing factors influencing pricing pressures, 70% of consumers are now very, or somewhat, open to adopting new rituals, marketing agency WARC stated. Demographics that would previously opt for high-end retailers are now exploring budget supermarket chains. According to Kantar data, affluent families now comprise more than half (54%) of Aldi and Lidl customers.

Pricing pressures spur changes in mindsets and behaviours, with consumers reassessing and considering what value means. In response, shoppers’ focus on resourcefulness, and savviness empowers businesses to set new standards. Tighter budgets are partly behind these purchasing actions, but acting on principle is also relevant, with consumers avoiding those goods that they don’t think are worth their full price.

Value in the era of uncertainty

With value a key concern, F&B consumers are prioritising product characteristics and demands that are most important to them. “Consumers are cautious and prioritising investments in their health and wellness,” Balanko added.

In The Future Laboratory’s New Code of Values report, the authors stated widespread dissatisfaction exists among consumers in the F&B sector, creating a catalyst that sees them re-consider what they eat and drink. “They feel like they are being taken for granted – exploited, even,” the report said. “It’s creating contempt for the system,” the report added.

According to Weber Shandwick, three out of four people around the globe say that what they value has now changed. Today’s F&B consumers want brands to provide care, connection, resourcefulness, enoughness, and transformation, which are in turn, creating new codes of value.

Brands must pick providing value over profits

F&B brands play a pivotal role in ensuring consumers feel valued. It is crucial to distinguish between providing genuine value that provides a sense of forward momentum and avoiding pretend value that detracts from their perception of growth. Consumers want less transactional brand relationships and instead focus on relational connections, with shoppers wanting to feel better post-purchase than pre-purchase.

Equality, transparency, and regenerative business practices are essential values, particularly among younger demographics, namely Gen Z. “We’re at a point where there will be

a generational shift and a transition of power that will happen in the next

decade,” said Andi Davids, global strategic business director at US-based brand agency Bulletproof. Amid these changes, consumers are considering more carefully where they put their money and time. They are also more aware today of overpriced products and underperforming brand performance.

The conscientiousness landscape demands more from F&B brands and manufacturers, who must make and market with today’s value-conscious consumers at the forefront of their new product developments (NPD). Brands’ first step is to deeply understand and empathise with their consumers. “Research that uncovers deeply held values, fears, and aspirations is required for on-point innovation and marketing,” Balanko said.