Food sector targets singles living at home

The importance of single, young people living with their parents as a market for the Irish €1 billion food-service industry has…

The importance of single, young people living with their parents as a market for the Irish €1 billion food-service industry has been highlighted in new consumer research compiled by the Irish Food Board.

SLOPs, according to the researchers, are Singles Living Off Parents, and they have been identified as prime drivers in the takeaway sector.

"Now that families are forming later in life, disposable spending power is prolonged into the 30s," said the Bord Bia research.

"There is also the SLOP factor, which is a primary driver of the food service market. Unhampered by the financial drains of mortgages and living expenses, this group are able to use disposable income on takeouts."

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The researchers divided the food services sector, which is all food consumed outside the home, into five categories - premium; upmarket; middle of the road; premium fast food and fast food .

Along with SLOPs, upmarket consumers also seem to be doing their bit in the complex sector which now accounts for 27 per cent of all money spent on food.

"The upmarket segment emerges as one of the fastest growing categories. This is directly related to Irish consumers' desire to express new wealth," said the Bord Bia research. "Societal trends, such as increased affluence, have had profound effects on the value placed on external signs of wealth, including eating out."

Also identified was the phenomenon of the "sacrificial" consumer, i.e. consumers who save on everyday items to afford greater spending on leisure, fashion and other discretionary items. Eating out was one of the key beneficiaries of this phenomenon.

It also identified the impact of time limitations on Irish people in relation to food, and it found "value for time" was increasingly replacing "value for money" as a concept.

"Eating out has increased because it is the answer to the time limitation of food preparation and social interaction."

The researchers also found Irish people have developed a more adventurous palate because of increased foreign travel "When choosing an outlet, personal experience and/ or a personal recommendation are important criteria. Respected sources of information include magazine and newspaper reviews."