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Rise of the Experience EconomyThe experience economy is fundamentally changing the way consumers approach markets around the world. Customers are increasingly seeking memorable and engaging experiences when purchasing goods and services. In the food retail space, this shift towards experiences is driving significant growth in the global food display cabinet market. As consumers expect more than just products on shelves when shopping for groceries, restaurants and cafes, retailers are investing heavily in innovative food display solutions that offer interactive and appealing experiences. Modern digital food display cabinets with touchscreens and virtual product information are helping brands stage memorable presentations of their food offerings. These high-tech displays provide a browsing experience more akin to a multimedia mobile app than a traditional retail setup. Dynamic lighting, motion sensors and multimedia content integrated within cabinets keep customers engrossed far longer than static displays ever could. Also seeing demand rise for specialty cabinet designs tailored for particular cuisines and cooking styles. As a result, manufacturers are diversifying their portfolio to include specialized sushi, bakeware and prepared meal cabinets with optimal temperature, humidity and presentation controls. The growing popularity of food-to-go options is boosting ‘grab-and-go’ cabinet sales as well. According to the UN's Food and Agriculture Organization, 78% of developing countries experienced annual expenditure growth on Ultra-processed food and fast food between 2000-2013, with highest growth rates seen in Asia and Africa. This on-the-go eating trend will continue driving higher use of interactive takeaway cabinets globally in the coming years.
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