Demand increases for premium prepared meals

Pre-prepared meals are no longer the domain of the low-income, time-poor consumer, according to a new report from Canadean.

The gap between rich and poor is beginning to close - at least in terms of prepared meal consumption. The Canadean report shows that 48.3% of the richest consumers and 51.7% of the poorest consumers purchase prepared meals regularly.

Being short on time is a universal problem, it seems, with both low- and high-income consumers citing this as a reason for purchasing prepared meals. However, with more cash to spend on food, higher-income consumers are looking to premium prepared meals to provide a luxury dinner without all the preparation and without having to leave the house.

The global financial crisis sparked the trend for premium prepared meals, Canadean says, when consumers were unable to afford to eat out regularly and so instead splashed out on a premium ready meal. A number of premium private label brands began offering consumers luxury ready meals, promising a restaurant-style dining experience. Despite the economic crisis levelling out, this trend is set to continue, Canadean predicts.

“Meals deals have been successful, as have offers such as the ‘Dine in for Two’ from Marks&Spencer, which targets couples without children who desire a luxury restaurant experience in the comfort of their own homes,” said Joanne Hardman, Canadean analyst.

“Included in these deals is a bottle of wine, so consumers can reward themselves with an indulgent meal without having to spend money on eating out.”