Millennials are in the news a lot lately and are making a huge impact on how retailers and supplies alike do business. In this installment of Retail Details, we look at the food industries as well as millennial preferences and habits when it comes to online and in-store purchases.
Did you know that American consumers are far more likely to trust domestic food products than those manufactured outside the country? The International Food Information Council Foundations’ 2016 Food and Health Survey, “Food Decision 2016: The Impact of a Growing National Food Dialogue,” showed that 70 percent of survey respondents trust American food safety. The same survey showed that only 24 percent trust food produced in foreign lands.
Did you know that soda consumption is at a 30-year low in the United States? According to Beverage Digest, the average per capita consumption in 2015 was 650 eight-ounce servings. The same report did note, however, that bottled water consumption continues to grow.
Did you know that millennials believe that using gift cards for online shopping is a good way to protect sensitive information? In a 2015 study by Blackhawk Engagement Solutions, most of the millennials surveyed (64 percent) indicated their belief that gift cards are the safest online payment method.
Did you know that a sizeable percentage of millennials check out blogs for product reviews and information before making a purchase? According to The Elite Daily Millennial Consumer Survey, 33 percent of millennials visit blogs when making purchasing decisions. Less than 3 percent make use of older media types, such as magazines.
Did you know that millennials and generation Zers alike are more likely than gen Xers or baby boomers to want a retailer to have a physical store presence? A recent study by iModerate showed that over 80 percent of millennials and Zers value physical stores compared to 69 and 65 percent of Xers and boomers, respectively.
True omnichannel appears to be the key to capturing the attention (and dollars) of the younger generations.