There are now more Millennials than Baby Boomers and although they got a late start in their careers they are now earning dollars, getting married and moving out of their parents homes.
Millennials garner a lot of attention, and they buy very differently. There is no difference to buying online or in a store. They buy 24 hours a day. Nine out of 10 prepare dinner at home three or more times per week. Nearly three-fourths say they want to be a better cook, but they’re not following Betty Crocker recipes. They’re checking out Instagram photos for inspiration and then experimenting. Only 56% feel confident in the kitchen offering supermarkets a great opportunity to build a relationship with cooking classes, online videos and information.
A third of Millennial shoppers consider environmental concerns when buying foods, over 50% back brands and companies that support their local community and 47% avoid buying from companies that have poor labor practices. They shop in 9 different food retailers over a three-month period as compared to just over 6 for Boomers. They are spontaneous, flexible, contradictory and adventurous. It’s all about collaboration, connection, community and conversation.