Grocery Shopping Habits Market Worldwide Forecast 2015 – 2019
Submitted by: Submitted by williamdonald
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Words: 1111
Pages: 5
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Date Submitted: 10/05/2015 05:58 AM
Understanding the attitudes and behaviors of young adults, a generation also called 'millennials', is the key to unlocking opportunities in consumer packaged goods markets both now and over the next 30 to 40 years. Young adults can be difficult to target as this age group includes vast differences in age, lifestyle, financial power, and life goals. However, there are three universal characteristics young adults share that should inform how to tailor product development and marketing campaigns to them. These are the rise of the niche, personalization and self-expression, and informal eating.
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Key Findings
- The term 'millennials' can lead brands astray as they seek to target a consumer group with vast differences in age, lifestyle, financial power, and life goals. However, there are three universal characteristics young adults share that should inform how to tailor product development and marketing campaigns to them.
- Niche brands are becoming more popular, making it increasingly difficult for mass market brands. Brands need to forget the "one size fits all" model, and develop a broad range of products that are closely aligned with very specific consumer groups and needs.
- The desire to stand out from the crowd has been present among all generations in their youth, but increased disposable income and the wide array of developed retail channels, including online, means young adults today can spend more money on more products that reflect their identity and personality
- Informality has increased as traditional eating habits dwindle due to a lack of time, changing social attitudes and busy lives. This means the line between snacking and meals is blurring, new consumption occasions are being created, and consumers are looking for even better quality food despite wanting to minimize the amount of time spent preparing...
