Phil's 2016 Food Trend Forecast - Trend #6: Millennials 11/25/2015
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.
For more than 25 years, Phil Lempert, an expert analyst on consumer behavior, marketing trends, new products and the changing retail landscape, has identified and explained impending trends to consumers and some of the most prestigious companies worldwide. Known as The Supermarket Guru, Lempert is a distinguished author and speaker who alerts customers and business leaders to impending corporate and consumer trends, and empowers them to make educated purchasing and marketing decisions.