Millennials have
grown up in a time of prolonged economic turbulence are used to both witnessing
social disruptions, technology disruptions, and studied disruptive forces, they
do not believe in the status quo.
In a Summer 2013 study by Innovaro titled Millennials and Food found “Millennials’
shift away from traditional grocery stores and willingness to shop at multiple
locations for food items suggest.
that the
food-retailing ecosystem will become more complex and diversified. Traditional grocers
may need to offer a variety of store formats and brands as well as more
experiential components to maintain or grow market share. Food processors may
face a more complicated distribution system with more channels and players.
The NPD Group found that
Millennials “source more than two thirds of their dinner meals from home”. While the NPD reports that Millennials like
restaurant type meals, the bundled mix and match meal components from multiple
companies compiling a customized meal for consumption at home.
Ready-2-Eat and
Heat-N-Eat fresh prepared grocerant niche food is a perfect match for
Millennials as the NPD report points out “speed” is a key driver. In fact the report found that “Millennials
are not willing to invest more than 15 minutes of time preparing dinner main
dishes”.
New Non-traditional
points of fresh food distribution are benefiting from Millennials desire to and
willingness to buy food in non-traditional avenues the ilk of Walgreens, drug
stores, C-stores the ilk of Sheetz, Wawa,
7 Eleven, and liquor stores the ilk of Pinkies. Restaurants beware
Millennials like, want and different.
Millennials are the
largest generational group, surpassing even baby boomers in numbers. There is no doubt their influence on food
consumption patterns will lead in redefining success within the food
industry. Millennials are driving the
retail evolution of the Grocerant Niche filled with Ready-2-Eat and Heat-N-Eat
fresh prepared food.
Outside eyes can deliver top line sales and
bottom line profits. www.FoodserviceSolutions.us Invite Foodservice Solutions® to provide brand and product positioning
assistance or a grocerant program assessment. Visit: www.FoodserviceSolutions.us for more or Steven Johnson and Foodservice Solutions® visit http://www.linkedin.com/in/grocerant or twitter.com/grocerant
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