Tag Archives: millennials

Appeal to Millennials in Your Micro Market, Without Losing the Boomers

APPEAL TO MILLENNIALS IN YOUR MICRO MARKET, WITHOUT LOSING THE BOOMERS

For micro market operators, it is important to look at the workforce as it evolves. That means balancing product selection and marketing strategies for the 80 million Millennials now making up the majority of the workforce while continuing to appeal to the Baby Boomer generation encompassing the most spending capital.

In many ways, Millennials and Baby Boomers are different in how they shop and determine value, but there are also many sales strategies that work across multiple generations to make today’s diverse work environment a gold mine for the savvy micro market operator.

Appeal To Millennials In Your Micro Market, Without Losing The Boomers

BRAND LOYALTY CONTINUES

Millennials, or those born from the 1980s to 2000s, can be very loyal to brands, similar to the tendency of the Boomer generation, those born from the 1940s to 1960s. A recent survey of 1,300 Millennials by Forbes found the 60 percent of this age group says that “they are often or always loyal to brands that they currently purchase.” Admittedly, Millennials become loyal to a brand differently than Boomers. They seek brands that evoke beliefs and feelings such as trustworthy, transparent, dependable and those that encourage participation. Boomers usually like brands they know and trust, making national, well known brands or popular local names a good bet for popular selections in the micro market.

AIM FOR HEALTHY, HIP PRODUCTS

Convenience foods seem to be coming into a great era as Millennials are willing to increase their spending in this category, says research group NPD. The latest numbers cited by the convenience store industry show Millennials are spending over 11 percent of their food and beverage budget at convenience stores, compared to just 7.7 percent in 2006.

The NPD Eating Patterns in America study further breaks out the product categories seeing the most growth in the breakfast and better-for-you items for both Millennials and Boomers. The popularity of each segment is expected to increase as we enter 2016. Focusing on quality breakfast items such as bars, sandwiches, wraps and bagels in the micro market will encourage both Millennial and Boomer customers to make eating breakfast at work a ritual and increase sales at the micro market.

Healthy eating is another important aspect that crosses generations with Millennials opting for fresher, less processed products such as organic items, as well as those lower in sugar. Boomers are searching for items that can address their lifestyle needs as they age with an interest in nutritional ingredients as well as a focus on foods lower in calories and sugar. Expanding product selections in these areas will meet preferences of both age groups.

USE COUPONS AND SPECIAL OFFERS

Value is another trait Boomers and Millennials share. They both appreciate a good deal. In a multi-generational retail strategies white paper, Synchrony Financial Analytics found that Millennials and Boomers were very similar in their usage of coupons. Both Millennials and Boomers were more likely to purchase a product if they had a loyalty discount or coupon, 66 percent and 63 percent respectively. This suggests micro market promotions involving coupons for a specific product or discount based on loyalty will be effective across multiple generations. In fact, the same research showed that over 60 percent of both groups were likely to take advantage of discount offers.

Both generational groups also do research about product and companies online. According to Synchrony, 81 percent of Boomers and 90 percent of Millennials have researched a product online in the past three months. For micro market operators, this means their Websites must be working properly and have information that allows both groups to make informed decisions. In addition to the company Webpage, Millennials are specifically influenced by social media. Synchrony found that Millennials were more than twice as likely as Boomers to state that they purchased a product after seeing it on social media.

Social media can still drive sales for Boomer as well as keeping brand awareness high. Mobile interconnectivity is another good strategy that will make a micro market more appealing to multiple generations. After all, Millennials are also only slightly more likely to own a digital device than Boomers (97 percent compared to 88 percent), so having an app or mobile promotions/payments will be advantageous to both groups. This includes a seamless transaction that works well and is easy to perform and is secure.

Marketing is an important part of keeping sales high in a micro market, and is therefore an area of focus for micro market operators looking to maximize profits. Trending product brands that appeal to the quest for quality and nostalgia of Baby Boomers as well as the transparency and collaboration desired by Millennials will be top sellers. Coupons and loyalty programs maximize your potential to lure both groups with additional sales as well as well-working mobile connectivity with the micro market. These are great ways to craft a marketing strategy that will appeal to a work environment that spans generations.

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Millennials & Diet Mentality

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Hello!
I’m Ms. Choice and I’m here to provide information and assist in promoting and implementing wellness and healthier snacking at work sites and schools. An article from Food Business News suggests that Millennials are more likely to ditch a diet mentality than previous generations:

Millennials more likely to ditch diet mentality

Monica Watrous

Young people eating at a restaurant, millennials
from Food Business News
Millennials are less concerned about calories and fat than the general population.

WASHINGTON — In matters of health and wellness, millennials are less concerned about calories and fat than the general population, according to the International Food Information Council (IFIC)’s 2015 Food and Health Survey. Millennial consumers also are more likely to use technology to achieve a healthier lifestyle.

“Millennials are a unique generation, and their approach to health and fitness is no exception,” said Sarah Romotsky, R.D., director of health and wellness for the IFIC Foundation. “This research gave us an inside look at how millennials are optimistic about the future of food, they look to their friends and family for support, they use technology as a tool to reach their health goals, and they have shifting attitudes about the value of certain nutrients.”

Like the general population, millennial consumers agree moderate sugar intake may be part of a healthy diet and that there are differences in the healthfulness of naturally occurring sugars compared with other types of sweeteners. However, millennial perceptions of fat and protein differ from those of the general population. Fewer millennials (54% vs. 61% of the general population) claim to have reduced consumption of solid fats, and one in three millennials recently have changed his or her opinion on the healthfulness of saturated fat, with millennial men more likely to view it more favorably. Additionally, one in five millennials say higher-protein foods may have many unhealthful components, compared to one in seven of the general population.

Moreover, millennials are less likely to count or limit calories than other age groups, and 20% of millennials claim all sources of calories have an equal effect on weight gain, compared to 27% of the general population.

More than a third (36%) of millennials track daily food and beverage intake using an app or other means, compared with 22% of the population, and 12% of  millennials use an on-line support group or community to pursue wellness goals, compared with 6%. Millennials also are more optimistic than other age groups about future food innovations and inventions that may support healthful living.

Food tracking app
More than a third (36%) of millennials track daily food and beverage intake using an app or other means. from Food Business News.

Millennials also are more likely to trust a health or nutrition blogger for accurate food information (33% vs. 24% of the general population) and rely on support of family and friends to improve eating behaviors (45% vs. 32%).

“It’s encouraging to see that millennials are interested in learning more about eating well,” said Kris Sollid, R.D., director of nutrient communications for the IFIC Foundation. “Developing a positive relationship with food is one of the most important things young people can do for their health.”

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