Specialty Food Magazine is the leading publication for retailers, manufacturers and foodservice professionals in the specialty food trade. It provides news, trends and business-building insights that help readers keep their businesses competitive.
Issue link: https://www.e-digitaleditions.com/i/567722
EDITOR'S LETTER Seven Surprising Insights About Specialty Food Consumers FALL 2015 1 HAVE A COMMENT? Visit specialtyfood.com/dpurcell/consumerinsight E ach year with our "Today's Specialty Food Consumer" report, we compile the shopping, pur- chasing, and cooking behaviors of the people who buy specialty food products. This year's study offers surprising insights that can help retailers and producers grow their businesses. Denise Purcell Editor, Specialty Food Magazine dpurcell@specialtyfood.com Man power in the shopping aisles. For the first time since this research began in 2005, men surpassed women as more likely to purchase specialty foods. New marketing opportuni- ties abound to reach the increasingly inf luential demographic. Even millennials get older. Younger consumers are the core specialty food shoppers, and the millennial generation is im- portant for its sheer size alone. But the eldest millennials are approaching 40, and they are starting families—which puts them in their own category. For example, they are shopping more for meal ingredients than the snacks and treats younger millennials are buying in droves. The less aff luent consumer. While the data shows core spe- cialty food consumers tend to be aff luent, the report also illus- trates that people earning between $25,000 and $75,000 buy specialty foods in more segments. This may be driven by more specialty brands becoming widely available in big-box chains, and thus more familiar. Whatever the cause, there are oppor- tunities to market and merchandise to these customers. The young (non)cook. The notion of young people cooking more than previous generations is not supported in this data. Millennials spend more eating in restaurants than other age groups and they more frequently order takeout or purchase ready-to-eat meals. Convenience is king with this group and, coupled with their penchant for online shopping and delivery services, it is going to play a big role in how they engage in food shopping and prep. GMO advocacy versus share of spend. Despite high num- bers of consumers expressing opposition to GMOs, we aren't seeing a bigger share of their food dollars going to non-GMO products. Also surprising, non-GMO purchases are slightly less likely among millennials versus gen Xers. This may be because consumers are buying organic instead, but it is some- thing to keep an eye on. Older consumers crave excitement. Baby boomers are far more likely than younger generations to try specialty foods because they enjoy new food experiences. Producers and re- tailers can engage this group by touting taste adventure. Gen Xer big spenders. This generation, ages 39–50, are the most likely to read nutrition labels and spend more on qual- ity ingredients. Often overshadowed by the massive millen- nial and boomer generations/consumer groups, these shop- pers are at the height of their earning years and will pay for health and quality. Don't overlook them. Highlights from this year's report begin on p. 97. Look for Key Opportunities boxes throughout for more insights. And download a summary report with full charts and data at spe- cialtyfood.com/consumer2015.