M
att Beaudreau of The Center for Generational Kinetics knows Gen Y and Z. Not only is
he a millennial himself—and a parent to three young kids—he works for an Austin, Texas,
research company that focuses on understanding and reaching the millions of consumers that
make up these generations.
Beaudreau tackled some of the challenges that come with selling to multi generations of consumers—specifically how to get
past assumptions about younger customers so you can truly understand them—during the Super Session, "Know Tomorrow:
What Moves the Consumer Who is Moving the Market," at the Summer Fancy Food Show, held in June in New York.
Following are 10 takeaways:
Think you have a handle on younger consumers? Think again.
Here are key truths and critical misconceptions that could be
affecting your business.
BY SUSAN SEGREST
10 Things You Should Know About
Your Gen Y and Z Customers
1
2
The average millennial is three
to five years behind in life expe-
rience than you think they are.
This means that 23-year-olds walking
into a store may never have shopped for
themselves—and most millennials sur-
veyed said they believe people become
adults around age 30. If that research sur-
prises you then you may want to adjust
your core beliefs about this consumer,
said Beaudreau.
Millennials are just starting to
establish brand loyalties. There
are 80 million millennials, he said, mak-
ing the generation about the same size
as baby boomers. Twenty-five percent
of new millionaires this year are mil-
lennials and by the end of 2017, this
generation will be the first to outspend
boomers in the U.S. "And we are up
for grabs," Beaudreau said. "We are just
beginning to become brand loyal, store
loyal, and food loyal. And just beginning
(continued on p. 100)
Matt Beaudreau,
The Center for Generational Kinetics
78 ❘ SPECIALTY FOOD MAGAZINE specialtyfood.com
reaching gen y and z
