Today Millennials
Are Driving Change in Retail Foods Sales
Many legacy restaurant chain Boomer
CEO’s are in a quagmire of stewardship. Unwilling to dramatically
redesign; concept footprint, menu items, or points of distribution they are
saddled with “canned” concepts once suited for the golden age of the restaurant
industry.
Foodservice
Solutions® Grocerant Guru™ stated “Brand protectionism is fast fading away and
giving ground to brand evolution. That evolution is required for long term
brand survival. Consumers are dynamic not static and brands must be as well.”
Consumers
are not thinking like many boomer CEO’s who continue to hold on to
psychological mindset of yesterday’s brand position in a world of contemporized
consumers. When thinking “What’s for Dinner” recent research by
Foodservice Solutions® found 86 percent of consumers at 1PM have no idea at all
and 65 percent of consumers at 5PM still do not know “What’s for Dinner”.
Thus the rise of the Grocerant Niche companies selling fresh prepared food for
Eating In or Eating Out in direct competition for legacy restaurants while
challenging legacy grocery stores models.
So do you want to know what a Grocerant is?
Want to know what a Grocerant is or where to find Grocerant Niche
Ready-2-Eat fresh prepared food? In reality a grocerant is where a consumer can
find fresh prepared food aimed at the time-starved consumer with Ready-2-Eat or
Heat-N-Eat fresh prepared meals or meal components that can be bundled into a
meal and or packaged for Take-Out, Take-Away, or To-Go.
Today,
grocerant meals and meal components are found in liquor stores, drug-stores
(Walgreens), fast food restaurants, fast casual restaurants, full-service
restaurants, and restaurants inside grocery stores, in legacy “deli”
departments, furniture stores (Ikea), club stores (Costco) and clothing stores
from Tommy Bahama, Macy’s, and Nordstrom’s.
Eating Out by Eating In?
Take-Out and Take-Away
Options Threaten legacy business models…
menu items have been around so long that consumer simply take them for
granted. Millennials are on a quest for personal discovery… looking past the
once obvious choice. The result is an opportunity for a new business, that is
new business models selling fresh prepared Ready-2-Eat and Heat-N-Eat fresh
prepared food.
With the increased presents of the 65
inch HDTV in home today Foodservice Solutions® research find “The 65 Inch
HDTV Syndrome” was edified recently in the 9th edition of “The Why Behind the Buy” published
by Acosta Sales and Marketing found:
“Contrary to some reports, eating at
home is not passé. Rather it has evolved to meet the needs of busier
lifestyles, more sophisticated palates and consumers who have become accustomed
to immediate gratification. Indications of how the boundaries of eating in and
eating out have blurred can be seen in the rise of the grocerant - grocery
store as restaurant - where ready-to-eat meals have been a major area of
growth; the popularity of quick-serve restaurants, food delivery and take-away;
and the growing array of meal solution product offerings from CPG companies. In
other words, shoppers are increasing eating out by eating in.”
Millennials Drive Change
The influence of Millennials can no
longer be denied. Millennials which represent 22% of the U.S. population today
are fast approaching their “prime” spending years. Millennials grew up with
fast internet access everywhere, mobile technology, and are now engaging and
demanding a food focused seamlessly integrated life style. In a recent
study titled The Why? Behind The Buy found “65% of Millennials say
losing this phone or computer would have a greater negative impact on their
daily routine than losing their car.” Are you willing to give up
your car? Soon Millennials will out spend Generation X and the Boomer Generation.
That same study found that young
shoppers are adapting to new food trends including buying Ready-2-Eat and
Heat-N-Eat fresh prepared food. That is something all food retailers need
to pay particular attention too. In fact that study found that in the
past 30 days:
·
Bought
Home Prepared Foods -
GenY / Mellennials 78% Gen X only 68%, and Boomers 60%
·
Ordered
Food From A Restaurant for Pick-Up / Carry-Out in the past 30 days - Gen Y / Millennials 78%, Gen X 72, and
Boomers 58%
·
Ordered
Food From A Restaurant for Delivery in the past 30 days - Gen Y / Millennials 67%, Gen X 57, and
Boomers 36%
As you can see for each of the above,
Millennial Shoppers outpace Boomers anywhere from 30% to a whopping 100%! Now if you are looking for successful strategy’s
and tactic’s to reclaim your market position, elevate your brand it might be
time for proven successful outside eyes.
Visit:
www.FoodserviceSolutions.us if you are interested in learning how
Foodservice Solutions 5P’s of Food Marketing can edify your retail food brand
while creating a platform for consumer convenient meal participation, differentiation
and individualization or you can learn more at Facebook.com/Steven Johnson, Linkedin.com/in/grocerant or
twitter.com/grocerant
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