Are Specialty CPGs Becoming the Norm?
How digital natives are driving these purchases
While most brands and retailers recognize the power and influence of the Millennial generation, it’s worth taking a closer look at their purchase drivers and processes. From doing their research – on every front – to buying based on social factors, this generation is changing the way consumerism works from the inside out.
Millennials are keenly aware of the information available to them and feel pressured to make the right choice when making purchasing decisions. Today, there’s a plethora of options in the specialty foods segment – from craft beer to Greek yogurt to BFY salty snacks – and vast amounts of information available via digital and mobile tools. This generation wants to feel confident about decisions. In fact, when shopping for CPGs, Millennials (ages 18-34) use, on average, 14 sources of information prior to making a purchasing decision. This is nearly twice the number of sources being used by those in the 35 and over age group, who use eight sources. Consistent across every category – from apparel purchases to electronics to shampoo and QSR restaurants – this trend holds true for CPG and this group’s grocery shopping journey.
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