Why all the focus on Millennials?
Simply said, they are the future. And while you might be getting a bit tired of all the articles and analysis comparing this group with the Boomers, understanding this group that comprise 22% of the U.S. population will be key to your success moving forward.
Born between the early 1980s and 2000, Millennials were born into a world of technology and collaboration. They have been involved in the decision making process in their families since childhood. From determining what technology to purchase to helping devise family vacations, this generation is one that is grounded in collaborative efforts and focused on having their own voice – especially when it comes to their food and beverage choices.
They demand answers and want to form a relationship with your department managers in order to learn the most they can about every food they consider consuming. They take the time to understand benefits, claims and reward good design with purchasing.
They live life never wanting to eat the same food twice, love to experiment and truly believe “you only live once,” and therefore are willing to splurge on artisanal and exotic foods even though they may have high college debt, poor paying jobs and may still be living with their parents.
So, is the way to winning over the high-spending younger crowd we know as Millennials, as simple as offering healthy, fresh, ethnic meals and a powerful digital strategy?
Millennials already buy prepared foods and meals – but crave a more enticing, upbeat, healthier, fresher, engaging experience in-store with digital seamlessly integrated. As a retailer, you need to understand and satisfy the way they eat at home – busier lifestyles (less time to fuss), a broader ethnic palate, and instant gratification. According to a recent study by AlixPartners, 27% of shoppers go to the supermarket with the sole intent to pick up a prepared meal – and this trend is growing. Millennial households averaged 3.9 ‘away from home’ meals per month at the end of 2013 vs. 5.8 at the start of 2013. Millennials tend to be driven by convenience when it comes to what they eat, how they eat, where they buy the foods they eat, and they use the convenience of the digital world to help make these decisions. Understand and empower this generation of food lovers!