Millennial shoppers challenge grocery stores to accommodate complex needs
Ready Pac assesses factors leading millennial shoppers away from traditional grocery and into alternative channels
The insatiable curiosity surrounding the Millennial generation (current age 18-35) is certainly not a new topic – but the importance of this complex demographic is growing, especially for grocery retailers. An apparent trend has surfaced, leading fickle (but abundant) Millennial dollars away from traditional grocery stores and into the hands of farmer’s markets, online and specialty retailers. A combination of factors, including health, status, convenience, freshness and ethics – all play an important role in these consumers’ purchase decisions.
This year, it was reported that Millennials buy only 41% of their food at traditional grocery stores – compared to Boomers’ 50% (Mintel). This gap is forecasted to widen as we look into the coming years. By 2016, Millennials will have the highest discretionary income in the US, and by 2020, there will be 64.1 million Millennials over the age of 25, an increase from just 17.1 million in 2010. For leading produce companies like Ready Pac Foods, Inc. there is a clear opportunity to win over this key demographic by engaging them directly through one of their core motivators: maintaining a healthy lifestyle – and making it seem effortless.