The Impulsive Millennial
Revamped grocery stores, to new shopping formats, check out this new report that proves Millennials are having a big impact on food retail.
A new report is shedding more insights into Millennials. Food Shopping in America, research from MSLGROUP and The Hartman Group, says Millennials' food purchase decisions are driven by their unique consumption patterns, constraints on budget and spontaneity.
According to the report, traditional grocery's unchanged positioning is gradually losing ground to the better value and convenience often found in mass/super channel. With Millennials, less than 10 percentage points separate the two channels (63 percent of Millennials shop at mass/super vs. 69 percent at mainstream grocery). Millennials are also more likely than older generations to shop two or more stores on each visit to purchase all of the items they need.
Steve Bryant, MSLGROUP Director of Food and Beverage Marketing is quoted in PR Newswire as saying "Millennials value companies that are authentic and transparent, and are more willing to connect with companies that try to address their needs. Marketing efforts should focus on carefully tailored, personalized communications, with a focus on both convenience and affordability."
To understand and attract the millennial shopper, retailers must remember a few key factors that are highlighted in the report. Millennials face more budget constraints than Gen X or Boomers. According to the report, nearly half (49 percent) said household budget limitations were the top issue making shopping more difficult. Supermarkets should look to target this group with deals and coupons and tips for inexpensive snacks and meal options.
Next, retailers should remember that millennials are a mobile generation. The report notes that most (70 percent) use their mobile devices while shopping for tasks like checking a shopping list kept online or on their device, accessing for a coupon or looking up a recipe. Brand and retailers need to make sure they can connect on this platform.
And finally, the personal touch is important. Research also shows millennials value personal recommendations from friends and family when it comes to shopping. Supermarkets should look to personalize their efforts and utilize this groups existing social media networks, either with in store deals, product recommendations, tips of the week and recipe ideas. Appeal to this group through social media and allow them to personalize the message and spread the word.