Retail Merchandising Strategy: Millennial Food Trends
We have dedicated several blogs over the last few years to retail merchandising strategies surrounding
millennial shopping behaviour, and for good reason. This rising group of not-so-young-anymore youngsters has incredible buying power, and retailers are really coming to recognize the potential that lies within harnessing that potential. This week, we thought we’d take a different spin – today we talk millennial food trends. What tastes are topping the charts for millennials and how can you cater your retail merchandising strategy to match?
Let us start by saying that this Huffington Post article is from back in February – we honestly don’t know how we missed it! However, we’re adopting the ‘better-late-than-never approach’ and sharing this fun read that we can actually take note of and use with upcoming retail merchandising strategies!
Top 5 Millennial Food Trends:
- DIY meals. There is a rather incorrect assumption that millennials tend to teeter more towards pre-prepared and pre-packaged meals on a large scale, but this discounts the large number that really like to get creative in the kitchen. In fact, the article notes, “according to a recent Google study, well over half (59%) of 25- to 34-year-olds now bring either a smartphone or tablet into the kitchen.” These smartphones and tablets are used to access apps like Pinterest, which makes finding a recipe for pretty much anything, easy.
- Healthy is the name of the game. The millennial crowd is looking for healthy ingredients, a third saying they prioritize healthy attributes in the foods they buy, and 29% saying they’re willing to pay more for them.
- Millennial shoppers are well known for their love of online shopping, and this extends to the grocery sector. And yes, while online grocery shopping only accounts for 1% of the industry’s over $82 billion value, the millennial cohort has the power to see that number grow.
- Sustainability is key. How key? The article references a global Nielsen survey that found that 72% of millennials are willing to pay more for products that are made by a brand they trust, 70% for products known for their health and wellness benefits, and 69% for those products made from fresh, natural and/or organic ingredients.
- Meal planning saves money. Millennials are really starting to recognize this and adjust their lifestyles (and thus their shopping behaviour) to fit this truth. The crockpot has become a major fixture in many millennial kitchens – and they actually get used.
Want to know more? Check out the article in full here: http://www.huffingtonpost.ca/jamie-shea/5-millennial-food-trends_b_9276846.html. It is guaranteed to tickle your taste buds.
A great way to take advantage of these millennial food trends is with a retail merchandising strategy featuring experiential marketing. Giving millennials that chance to try out new foods, foods that showcase these trends, you can really grab their attention.
Want to take this knowledge and translate it into sales? We can help you build a great-tasting retail merchandising strategy. Call us today at 1-877-421-5081.« Back to Blog