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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