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There’s little doubt that Millennials are changing the rules when it comes to grocery shopping.

Millennial Grocery Shopping Trends: 3 Things to Know

There’s little doubt that Millennials are changing the rules when it comes to grocery shopping. But just how is this group of 83 million people affecting the playing field? Here are 3 significant things to keep in mind: 

  1. Where they shop – Rather than the one, large weekly shopping trip, millennials tend to make several smaller trips. Within a week, they may visit supermarkets, the corner grocery store, and big-box retailers like Target. Shopping is seen as a social experience with peers, where transparency and locally grown—as well as exotic—foods are very desirable. Sustainability is important to this demographic; Whole Foods and Trader Joes have excelled at making this connection.
  2. How they shop – Approximately 70% of millennials use their phones while shopping. As such, they prefer brands with a high mobile profile that offer a unique shopping experience before, during and after the purchase. In a world of online reviews and likes, it’s no wonder Millennials often turn to their friends and family for advice while shopping. They also tend to be heavily influenced by visuals, rather than words, when shopping.
  3. What they shop for – Millennials tend to be less brand loyal; it doesn’t take much for them to switch from a name brand to a private-label brand. Budget conscious, they tend to shop based on recipes—probably on their Pintrest profiles—rather than stocking up on groceries. 

Millennials have more than $1.3 trillion in purchasing power annually. Due to the evolving grocery shopping landscape, it’s imperative that the supply chain understands the buying trends of this influential demographic. 

 

Richard Colloca, EisnerAmper Audit Partner with over 20 years in the public accounting profession, provides audit, accounting, tax and business consulting services to clients, including closely held and publicly traded companies.

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