Boomers & the Economy -The Lempert Report
The Lempert Report Food News: Marketing, analysis, issues & trends and the impact on food and retail environments, specifically for the B2B food world with reporting and commentary on consumer and retailing trends by Phil Lempert. Phil can predict the future —and then help businesses and consumers understand it. For more than 25 years, Lempert, an expert analyst on consumer behavior, marketing trends, new products and the changing retail landscape, has identified and explained impending trends to consumers and some of the most prestigious companies worldwide. Known as The Supermarket Guru®, http://www.supermarketguru.com, Lempert is a distinguished author and speaker who alerts customers and business leaders to impending corporate and consumer trends, and empowers them to make educated purchasing and marketing decisions. To see more of The Lempert Report visit: http://www.thelempertreport.com
The Lempert Report for Thursday May 7, 2009
Boomers & the Economy With the likes of Mick Jagger, Paul McCartney, Rod Stewart and Tina Turner still filling arenas, is it any wonder that brand marketers are finally getting the message: 60 is the new 40.
Baby boomers have no problem believing this concept; we are often the first to dance at our concert seats. In real life, we wield considerable buying clout in our roles as grandparents, heads of households with grown children, or as empty nesters. We are 76 million strong, and account for 58% of all CPG shopping trips and 60% of all CPG shopping dollars in the United States.
Especially in the recession, marketers are looking to tap the budgets of Boomers, who are likelier to be mortgage-free, debt-light, and feeling freer to spend a bit compared with the unemployed and the job-jittered.
Brand makers from the largest companies to smaller enterprises still need to learn much more about the value concepts, buying practices and special purchase triggers of the aging boomers. We may well be shopping less in brick-and-mortar stores and more in virtual stores to avoid the in-store mayhem and hassles. To turn Boomers on, we believe it is essential to go beyond marketing campaigns that feature older actors like Dennis Hopper selling financial services or Jamie Lee Curtis hawking probiotics. We believe that engaging older consumers within online communities, and creating new ways to satisfy them on the shelf with healthier recipes and packages that are easier to open are the keys.
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On Food Sense - More peanut problems, this time its the environment Peanuts have been getting crunched. First came the salmonella scandal, which prompted the largest-ever food recall in U.S. history. And now, extreme rainfalls are dousing the prime peanut growing areas of Georgia. Questions are significant. How quickly can this industry rebound from two disasters in quick succession? Will the combined effect make the peanut industry look like a shell of its former self in 2009? What will be the impact on pricing, and in turn on demand, given the tight spending mentality that prevails?
These questions may have to wait until after farmers bail themselves out so their peanut crops can grow. The effect on supermarket categories and their suppliers could be broad, touching everything from peanut butter to baked goods, from snacks to sauces and marinades.
Between late-March and mid-April, 12 to 18 inches of rain fell in rich peanut territories of The Peach State, that account for more than 40% of the United States peanut production - that is 300% to 500% of normal precipitation for the period delaying field preparation by at least two weeks. Peanut planting typically begins in early May and concludes by mid-June. In the coming months, with peanut prices possibly higher, and consumer demand still uncertain due to the lack of food safety confidence, the peanut industry's fate for the coming year is still questionable. For more analysis and insights log on to the B2B page of SupermarketGuru.com. The Lempert Report uploads right here every Thursday.
To reach me directly, please email me at Phil@SupermarketGuru.com
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