The Lumina Intelligence Top of Mind Report – 2024 provides a comprehensive analysis of the current and future business climate in the UK Eating Out and Grocery Retail markets. It explores how trading environments are expected to evolve over the next 12 months, addressing the factors shaping these changes. The report also highlights the long-term consumer trends that are impacting both markets, offering insights into shifting behaviours and preferences. Additionally, it examines the business initiatives being prioritised, such as innovation, operational efficiency, and customer engagement, giving leaders a clear sense of where companies are focusing their efforts.
The report addresses critical challenges, including difficulties in attracting and retaining staff, by exploring labour market conditions and potential solutions. It also identifies the most admired brands in the industry, offering examples of successful strategies and best practices.
Market Context: this section examines the consequences of falling inflation, key economic indicators, future economic sentiment, and GFK consumer confidence, while also exploring UK inflation and wage growth from 2018-2024, the challenges facing the UK’s new government, and anticipated legislative changes between 2024-2027.
Trading Environment: this section highlights market conditions for grocery retailers, perceptions, and outlook for the eating out market, future expectations for trading conditions, and the influence of legislation, government priorities, and extreme weather.
Market Trends: key consumer trends, value investment examples in grocery retail for 2024, employee wellbeing initiatives, and the increasing focus on sustainability and digitalisation.
Challenges and Opportunities: pressing issues such as navigating economic uncertainties, adapting to evolving consumer demands, and managing labour shortages.
Top Of Mind Business leaders survey: Lumina Intelligence Top of Mind business leaders survey is an online questionnaire targeted at industry professionals across the eating out and grocery retail markets, focused on understanding the current trading environment, challenges and growth opportunities.
It is based on responses from 70 leaders working in senior management positions.
The survey was carried out from June-August 2024 and data has been compared to previous waves, collected in June-August 2021-2023.
Eating & Drinking Out Panel: Lumina Intelligence’s UK Eating & Drinking Out Panel tracks the behaviour of 1,500 nationally-representative consumers each week, building up to a sample of 78,000 every year, across all eating out channels and day-parts (including snacking), 2020-present.
Convenience Tracking Programme (CTP): Lumina Intelligence’s UK Convenience Tracking Programme (CTP) – survey-based data collection with 1,500 responses weekly and 78,000 on an annual basis, 2020-present.
