NEWS5 April 2017
NEWS5 April 2017
UK – Research from IGD has identified time and convenience as the key issues the food and grocery industry can address to align business with the needs of future shoppers.
In a new report, IGD – the research and training charity for the food and grocery industry – has examined the needs of post-millennials (born between 1992 and 1999 ).
It found that post-millennials are prepared to spend money for products that meet the ‘time and convenience’ criteria. Over half ( 54%) sometimes go to the nearest store even if it is more expensive (compared with 40% of those over 25 ), while 52% of this age group claim they sometimes spend a bit more for easier to cook or prepare products (compared with 42% of those aged 26+).
The top five areas that post-millennials are saving time with regard to food and grocery are: using self checkouts ( 77%); buying prepared food in jars, tins, packets or cartons ( 69%); spending less time cooking ( 68%); shopping in smaller convenience stores ( 67%); and buying food-to-go ( 64%).
“There are great opportunities for those businesses within the food and grocery industry to gain competitive advantage by meeting the needs of this powerful group of shoppers," said Michael Freedman, senior shopper insight manager at IGD. "However, those businesses that fail to understand the specific requirements of 18-25s will only risk losing out.
"It will be key to future-proofing businesses to meet the growing demands from post-millennials who expect better products, prices, more product diversity and improved services, along with wanting meaningful experiences and inspiration – while always demanding convenience.”
IGD ShopperVista surveyed 500 18-25 year olds during March 2017.
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