Millennials, as a generation, are rethinking virtually every aspect of the food-buying experience. It is similar to the changes wrought by the Baby Boomers. But, as that mega-demographic enters the next phase of life and spending patterns, Millennials are poised to change—indeed transform—the food-at-home industry.
A recent report from Jefferies and AlixPartners, “Trouble in Aisle 5,” found convenience is front and center to young people. As such, they are much less loyal to both food brands and traditional grocery stores. The report’s survey found 47% of Millennials surveyed regard brands as “extremely” or “somewhat” important compared with 61% of Baby Boomers. For that matter, only 41% of Millennials’ total food spending involves traditional grocers, compared with 50% of Boomers.