Mind-Blowing Data on Millennials: IRI

admin | July 16th, 2015 - 1:53 pm

Drilling down on millennials’ shopping habits specifically as they relate to buying meat products yielded some “mind-blowing” numbers.

Data presented at the National Chicken Council’s annual Marketing Seminar included the following.

  • 36 percent of millennials research their retail purchases before shopping
  • 81 percent of meat and poultry buyers make a list, BUT
  • 90 percent do not list a preferred meat brand
  • 64 percent are open to making a meat-related buying decision in the store

Those facts represent a “huge” opportunity to influence shoppers at the point of sale. This is true particularly in light of the trend in purchasing power over the next five years: As more millennials enter their “prime buying” years (between the ages of 25 and 54), their aggregate buying power is expected to increase by 70 percent by 2020. Meanwhile, baby boomers are aging out of those prime years, and their attendant buying power is calculated to dip by 16 percent in the same timeframe.

In light of these demographic trends, here are seven suggested action items for chicken processors:

  • Aggressively shift marketing dollars to the digital space, where millennials spend six hours a day.
  • Increase focus on in-store marketing to influence the two-thirds of millennial shoppers who have not yet made a buying decision.
  • Take the “healthy meat” mantle away from turkey.
  • Scream the message that meat is the “original protein source” to a consumer base that seems to believe that all protein is the same.
  • Invest in value-added meat programs that have broader margins than commodity channels.
  • Leverage the protein’s popularity with millennials to obtain more shelf space from retailers.
  • Expand chicken into the snack category.

Source:  http://www.meatingplace.com/Industry/News/Details/59713; 7-14-2015

Both comments and pings are currently closed.
Facebook IconTwitter IconOn PinterestOn PinterestOn PinterestOn Pinterest