Millennials have begun to replace Baby-Boomers as the primary consumer generation, creating chaos for grocers. Starting in 2020, Millennials will be over the age of 25 and make up approximately 19 percent of the United States population. Millennials have extremely different views about consumption of goods than Baby Boomers —creating a problem for grocers.

David Garfield states that Millennials desire convenience and options for products and retailers. They are less likely to have store or brand loyalty to brands. Furthermore, they will consider alternative shopping options, such as shopping online, or through clubs. Price is one of the most important factors for Millennials making under $20,000 a year.

Although Millennials have not yet decided on their lifetime preferences, they are considered less committed to the one-stop shop model of supermarkets; which will create problems for conventional retailers. However, specialty shops, club stores, and online markets may enjoy an increase in business, and be successful connecting with this new generation through the proper use and implementation of up to date technology.

 

http://www.retailwire.com/discussion/16117/study-millennials-to-shake-up-supermarket-world

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