Global Survey Report on Food Category Challenges

This document is a global survey report that examines the challenges faced by small and medium-sized businesses (SMBs) in the food category. It outlines the findings from a survey conducted with 181 business owners across 35 markets, focusing on the realities of inflation, innovation, and consumer loyalty. The report identifies inflation as the primary challenge, with 44% of respondents citing it as a significant issue. It details how inflation impacts both the economic landscape and consumer behavior, noting that while inflation rates may be decreasing, prices continue to rise. Additionally, the report discusses the importance of innovation in product development, highlighting that SMBs who successfully innovate are more likely to grow. Finally, the report addresses the challenge of building consumer loyalty, revealing that many consumers are brand agnostic and prioritize value and functionality over brand loyalty. The findings aim to provide SMBs with insights to navigate the competitive food market effectively.