Lost leaders, digital smartphone freebies, coupon matching have worked for generations and Millennials are more likely than other age groups to shop three or more retail outlets for groceries each week saving themselves close to 35% according to Steven Johnson, Grocerant Guru® at Tacoma, WA based Foodservice Solutions®.
Regular readers of this blog know that the parents of Millennials shopped around for the best prices and understand that while in search of food discovery Millennials aren’t stupid either. It’s the quest for discovery of the app or exploiting the establishment Foodservice Solutions® Grocerant ScoreCards indicated price is as important as ever.
According to Acosta’s “Trip Drivers” Hot Topic Report, 76% of consumers who shop at least once per week said they visit two or more stores to buy groceries. Millennials are the most likely to shop at the most locations, with 44% saying they shop at three or more stores, compared with 29% of all shoppers.
Price is the biggest motivator for all shoppers visiting multiple outlets, with 60% agreeing that some products are priced lower at certain retailers. Forty-one percent said quality variability across different categories is a motivating factor in store-hopping, 33% said product availability is a factor and 23% cited convenience.
Among Millennials, only 45% cited price as a key factor driving them to shop multiple stores. This age group is more likely to cite physical proximity and the availability of specific brands.
Millennials are also more likely to shop multiple retailers to ensure freshness, the report found. While 37% of shoppers said they make multiple trips to ensure their food is fresh, 65% of Millennials said they make multiple trips or have multiple deliveries to receive the freshest possible food. That compares with 47% of Gen-Xers, 25% of Baby Boomers and 22% of Silents (age 70-plus).
Consumer that shop three or more grocery stores a month are not brand loyal? How much are you paying for loyalty? Do you know? Should you care? Does you outlet look more like 2005 than 2020? Does business model look more like yesterday than tomorrow? Why? Do you like doing what you have always done and doing it the same way? Good for you if you do. But just how is that working?
Success does leave clues www.FoodserviceSolutions.us is the global leader in grocerant niche business development. We can help you identify, quantify and qualify additional food retail segment opportunities. Has your company had a Grocerant ScoreCard completed a Grocerant Program Assessment, or new Grocerant niche product Ideation? Want one? Call 253-759-7869 Email: Steve@FoodserviceSolutions.us