It’s rational that shoppers would be willing to pay more for a product that is of a higher demonstrated quality or value, but there is also a more subjective component that factors into many shoppers’ ideas of what premium means.
Consumers have more snack choices than ever these days, and it’s changing the way they think about snacking. Premium snacks are just one sub-category that’s emerged in recent years.
For years, confectionery, crisps and soft drinks were the most popular go-to snack choices for the British consumer. But over the last five years, we’ve seen a dramatic shift in the world of snacking.
Around the world, consumers are looking for a taste of the good life. And it’s not just those who are wealthy. Sales of products in the “premium” tier are growing at a rapid pace. In fact, the growth of the premium sector in many markets is outpacing total growth for many fast-moving consumer...