What Millennials are shopping for
The Millennial generation grew up in a time where shopping on the Internet and researching products on a smartphone while in the store is the norm. So how do brick-and-mortar online retailers compete in an era where customers are trained to shop online and compare prices?
It’s all about WHAT Millennials are shopping online for
Even though many Millennials are shopping at online-only retailers to purchase grocery-style items, they are less likely to buy traditional perimeter store items like fresh bakery, refrigerated deli and dairy goods, according to an FMI report. Grocery stores will see continued growth around the perimeter of the store in the refrigerated dips, spreads, sauces and protein salads. Another finding is the generation favors buying more store brands as a way to save money and demonstrate an increased trust in private label products versus prior generations.
The advantage of convenience
Millennials crave convenience. Packaging that can be utilized hot or cold is a hit, with many of the dips gaining enhanced flavor profiles once heated. Another convenience consideration is making things less complicated. Party items that would take a good bit of time or preparation can be packaged as ready to eat. Another way to appeal to convenience is packaged promotions and dip trays with multiple flavors. This treatment allows for customers to try multiple flavors of the dips, and to show up with an instant party hit!
Mintel’s Dips and Savory Spreads report noted that “ 85 percent of purchasers agreeing it’s okay to indulge from time to time, chip and dip producers stand to win by creating innovative bases, flavors, and variety packs.” Millennials are driving much of this growth with professed trends of shared experience and group gatherings. Millennials also have a love to cook, especially for a party, so making the party shareable more convenient is a win.
Millennials can be a curious bunch – known for decadent eating, but also known for health-conscious eating and fitness. There are no swooping generalizations applicable to all, but hopefully these tips help you crack the code!