[Edenred Japan] Is it due to prolonged high prices?Japan’s food saving consciousness is the highest in the world…Edenred Global Survey “FOOD Barometer 2024” released
Eden Red Japan Press release: October 18, 2024 Is it the effect of prolonged high prices?Japanese people have the highest awareness of food saving in the world…Edenred Global Survey “FOOD Barometer 2024” released Edenred Japan Co., Ltd. (Headquarters: Minato-ku, Tokyo; Representative Director: So Amano Taro) will report on the results of “FOOD Barometer 2024,” a global survey conducted by the Edenred Group that surveyed 49,990
businesspeople from 22 countries around the world, including Japan, about price increases and lunch trends among businesspeople. Research background The consumer price index of each country in August 2024 (compared to the same month of the previous year) is 2.8% in Japan, 2.2% in France, and 2.3% in Spain, which is showing stability compared to a while ago. However, while the rise in prices has stabilized and Japan has seen historic wage increases, I don’t think there are many people who actually feel that the economy is doing well. In October, there were food price increases for 1,392 items, as well as increases in gas and electricity bills. Wage growth is still unable to keep up with price increases, and real wages for August, announced this month, turned negative for the first time in three months. There is no doubt that future price trends will have a major impact on the consumer sentiment of business people. Therefore, in the 2024 edition of the global survey “FOOD Barometer” that the Edenred Group conducts every year, we will continue from last year to focus on the theme of price increases, and investigate the impact on business people’s savings consciousness, food health, and awareness of food loss. . As prices continue to rise, it has become clear that Japanese people are becoming more frugal when it comes to groceries, and even when choosing lunch, they place more emphasis on price than quality. Research summary ■ In the world Most conscious about saving money on groceries The country is Japan ■Japanese businessperson Approximately 80% However, in the future, “Grocery” I strongly feel that the price will rise, and A high value of approximately 1.4 times the world average ■Japan is Prices are higher than the world average for most expenses They feel that there is a marked tendency to save money ■ Criteria for choosing lunch: Compared to other countries around the world, people in Japan place importance on the quality and health of the food Noticeably less Trend ■There are only a few people in Japan who have a strong interest in food loss. 40% . This is about half of the world average, which is a remarkably low number [Survey overview] Survey name: FOOD Barometer 2024 Research entity: Edenred Group, including Edenred Japan Co., Ltd. Survey method: WEB survey method Survey period: September 2024 Survey target: 49,990 employees of companies that have introduced ticket restaurants and 1,491 restaurant managers from 22 countries around the world *Target countries are Japan, France, Italy, Spain, Germany, Belgium, Portugal, Sweden, Austria, Czech Republic, Romania, Slovakia, Finland, Bulgaria, Poland, Turkey, Greece, Brazil, Chile, Colombia, Peru, Uruguay *This release utilizes the results of a survey targeting employees and considers comparisons with Japan. ■Reference: “FOOD Barometer 2023”
https://edenred.jp/notice/press-release/20231026/
https://prcdn.freetls.fastly.net/release_image/56034/62/56034-62-10c43a6567cb2ed91859d43d25acbedc-3810×1735.jpg
https://prcdn.freetls.fastly.net/release_image/56034/62/56034-62-efde6cde2c4c342b1d7036387702ef8b-2406×1616.jpg ◆About 80% of Japanese businesspeople strongly feel that the price of “food” will rise in the future, which is about 1.4 times higher than the world average ◆People in Japan feel that most expenses will rise more than the world average, and there is a marked tendency to save money When asked about the items they thought would increase in price in the future, the most common answer in Japan was “food” at 75%. Continuing from last year, this figure remained high compared to other countries. September, when Japan’s survey was conducted, was the beginning of the autumn price increase rush, and food price increases were also due in October, which is likely to have led to the high numbers. Furthermore, Japan can be said to be a country with a high level of frugality, as it exceeds the world average in most expenses, including not only food, but also utilities, transportation, and clothing.
https://prcdn.freetls.fastly.net/release_image/56034/62/56034-62-553817a1ccde3edd8c2a2a26129e5a87-3839×1760.jpg ◆ Criteria for choosing lunch: Compared to other countries around the world, there is a markedly lower number of people in Japan who place importance on the quality and health of the food The items that a large percentage of Japanese respondents said were important when choosing a lunch were “location” (44%) and “price of the meal (44%).” Continuing from last year, the proportions of “quality of food (25%)” and “provision of healthy menus (17%)” were significantly lower than in other countries, indicating that businesspeople are not concerned about the healthiness of food. Awareness is an issue. If prices continue to rise and the quality of lunch continues to deteriorate over a long period of time, there are concerns that it will have a negative impact on health, and as a result, it may lead to a decline in the performance of organizations and companies. Precisely at a time like this, isn’t it important for companies to provide food and other lifestyle support to their employees?
https://prcdn.freetls.fastly.net/release_image/56034/62/56034-62-523a746caf8d834174bdc8de346f0adb-3779×1957.jpg ◆Only 40% of people in Japan have a strong interest in food loss. Conspicuously low number Continuing from last year, this survey also investigated food loss, which is becoming more and more important every year. When asked if they are interested in food waste, approximately 40% (41%) of Japanese people answered “yes.” On the other hand, in many other countries, over 80% of respondents answered “yes,” and the global average was over 70% (72%). October is “Food Loss Reduction Month”. Efforts to reduce food loss are becoming more active in Japan, with the Ministry of Health, Labor and Welfare currently holding a study group to create guidelines for how to take home leftover food hygienically when eating out. However, compared to the rest of the world, there are still very few people in Japan who are interested in food loss, and it is possible that the growing trend towards saving money is further accelerating the lack of time to be concerned about food loss.
https://prcdn.freetls.fastly.net/release_image/56034/62/56034-62-dd17644c411c2f1aedab2ac0359a5cb7-3900×1977.jpg [General review] ■Comment from Sotaro Amano, Representative Director of Edenred Japan Co., Ltd.
https://prcdn.freetls.fastly.net/release_image/56034/62/56034-62-18e23b3541d854b326af936301cfc0ed-330×348.jpg Although the inflation rate has shown signs of stabilizing since the beginning of this year, it remains high at nearly 3% in Japan. The results of this survey show that compared to other countries, Japanese people are becoming more conscious of saving money on groceries, and there are concerns about the impact this will have on the food choices of business people. Many Japanese people are still concerned about future food price increases. Due to the effects of high prices, people are forced to focus on price rather than quality when it comes to food, and nutritional aspects have become secondary. A similar trend has continued since last year, and there are concerns about the long-term impact on health. Under these circumstances, the need for welfare benefits such as lifestyle support (meal assistance/housing allowance, etc.) to support employees is rapidly expanding. The number of new companies introducing our meal assistance service “Ticket Restaurant” has also increased by 646% compared to 2021. In order to achieve sustainable growth, companies are now required to create an environment where employees can continue working in good health for a long time, based on the idea of ”investing in people.” ■About “Ticket Restaurant” developed by Edenred Japan Co., Ltd. Edenred Japan’s IC card “Ticket Restaurant” is a food welfare service that allows you to use restaurants and convenience stores like an “employee cafeteria.” With over 35 years of experience in Japan, it is the largest meal supplement solution in Japan, with over 3,000 companies and 150,000 users. In March 2023, we entered into a business partnership with Uber Japan, and in addition to providing delivery services, we expanded the number of available stores to 250,000 stores nationwide. We are evolving into a more convenient meal assistance service that can flexibly accommodate the environment of everyone working, regardless of their work location or working hours. Furthermore, with the recent upward trend in prices increasing the momentum for wage increases, there are cases in which it is being introduced as a “third wage increase (*)” that substantially increases employees’ take-home pay, and in some cases it is being introduced for the purpose of securing and retaining human resources. The number of newly introduced companies has increased significantly by 646% compared to 2021. *The “third wage increase” is a wage increase that utilizes welfare services that effectively increases employees’ take-home pay and reduces the tax burden on companies, and is a method of utilizing welfare that we advocate. This is one of the. Reference: https://edenred.jp/the3rd_chinage *The IC card “Ticket Restaurant” can be used by simply holding it over the electronic money “iD” terminal operated by NTT Docomo, Inc. “iD” is a trademark of NTT DoCoMo, Inc. ・Company name: Edenred Japan Co., Ltd. ・Representative: Sotaro Amano, President and Representative Director ・Location: 7th floor, Ark Hills South Tower, 1-4-5 Roppongi, Minato-ku, Tokyo ・Business details: Ticket Restaurant(R) issuance agency ・URL: https://edenred.jp/ticketrestaurant/ ■About Edenred Group
https://prcdn.freetls.fastly.net/release_image/56034/62/56034-62-71a26fb8ba98c8109272cb8eab97c320-1078×689.png Edenred is a leader in payment platforms that support the daily lives of working people, connecting approximately 1 million companies, 60 million employees, and 2 million member stores, and operates in 45 countries around the world. Edenred offers payment solutions for different purposes: benefits (meal vouchers, e-meal cards), mobility (fuel cards, commuter vouchers), incentives (gift cards, employee engagement platforms), and corporate. The services range from inter-company payments (corporate payments) to services (virtual cards). We aim to improve employee benefits and purchasing power, increase the attractiveness and convenience of businesses, and revitalize the job market and local economy. Edenred Group’s 12,000 employees work every day to make the world of work safer, more efficient and more user-friendly. Thanks to our global technology base, in 2023 our sales volume will exceed approximately 2.5 billion euros, primarily through mobile apps, online platforms, and card transactions. Edenred is listed on the Euronext Paris Stock Exchange and is included in France’s leading 40-stock stock index, CAC40. Edenred corporate homepage https://www.edenred.com/en (English website)
