AN INTERVIEW WITH PATRICK COVENEY
Patrick Coveney, Chief Executive Officer, Greencore Group
A View to the Future
Patrick discusses how the food industry has changed over the last 5 years and looks forward to give his view of the future
EFFP: Looking back over the last 5 years, what have been the major trends and changes that have in your view impacted the food industry?
Patrick: A number of very important changes have been experienced within the UK:
Firstly, there has been progressively more retailer concentration. Whilst not out of line with the rest of Europe, the share of overall retail spend amongst the big 5 has signifcantly increased with the accelerated shift into convenience and online being the latest dynamic.
Secondly is the inexorable growth in own label. It is now playing a major role at the premium end of the market acting more as a key point of difference between the homogenous offerings of the retailers.
Thirdly and in contrast to the previous 40 years, there has been very significant levels of food inflation and higher levels of volatility in underlying raw material pricing. The ability to have either predictable or in real terms declining food pricing has disappeared.
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