Once again, boomers need to move over; millennials now claim the top spot as the most influential arbiters of food culture, says research from the Hartman Group, Bellevue, Wash. As Millennials mature, they're shopping behaviors evolve.
According to Hartman's latest report, "Foodways of the Younger Generations: Millennials and Gen Z 2016", this group wants to know what a food brand stands for socially, even so far as to find out the story of its founders. "At the end of the day, however, price rules. Millennials like a good brand story, but it doesn’t make them brand loyal. 45 percent say the "best prices" and "offers/coupons/promos" are important factors when deciding whether or not to connect with a brand. Thirteen percent are more likely to connect with brands having a "hip/cool personality."
Many hunt for a good deal, and comparison shop, but shopping mostly takes place online as they use their mobile devices to research (89 percent) and also find online coupons, often right in the aisle of the grocery store. In addition, 82 percent use a smart phone to purchase products, the report indicates.
Interestingly, regardless of wherever millennials fall on the spending spectrum, they're making price-sensitive choices that makes store brands an attractive option.
For more information on the report, visit www.hartman-group.com.