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‘Huge demographic shift’ means opportunity for fresh-cutAs they get older, become more established and enjoy increasing buying power, the millennial generation is getting a growing amount of attention from marketers.
At 80 million strong, according to the U.S. Census Bureau, the generation born between 1980 and 2000 is a major factor in what the Pew Research Center describes as “a huge demographic shift” in the U.S.
Safeway Fresh FoodsAccording to Gina Jones, the Produce Marketing Association’s director of research and value development, they represent 27 percent of the U.S. population – larger than the baby boom generation and three times the size of Gen-X.
They account for an estimated $1.3 trillion in annual consumer spending. And that’s only going up, according to a study titled, “Outlook on the Millennial Consumer 2014” recently released by the Hartman Group.
They’re independent minded. They’re ethnically diverse. And they’re less likely to be married; the Pew report says just 26 percent have spouses, as compared to 36 percent of Gen-Xers and 48 percent of Boomers when they were in that age group.
They tend to be well educated. About one-third have a four-year college degree
They’re socially aware – and social media aware. The Pew report describes them as “digital natives” – the only generation that grew up on social media and digital technology. They didn’t have to adapt. It’s second nature.
They care about food and where it comes from, though they’re not taken in by glitzy packaging but instead are attracted by compelling stories behind the products they buy.
Click here to read more at produceprocessing.net.
Publication date: 5/26/2015
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