WITH EACH GENERATION THERE ARE VARYING REASONS FOR WHAT HEALTHY FOODS ARE BOUGHT AND WHY.
While general research suggests that the younger generations are the prime target for health food purchases and are willing to pay more for such foods, it doesn’t mean you throw the towel in on sales from Generation X, Baby Boomers or the Silent Generation.
Learning more about the wants of each generation can help you increase your market knowledge and therefore understand how and what to sell to each target group. Below we’ve taken a closer look at each generation’s purchase decision barriers with healthy food and where they place their importance in the category.
GENERATION Z – AGED UNDER 22
30% of Generation Z see healthy food products as very important and 31% are very willing to pay a premium price for them.
These consumers are not fond of the ‘one-stop-shop’ concept and will shop at several locations for specific goods.
41% are willing to pay a premium for sustainable products and 37% for gluten free products.
Offer in store tastings of gluten free, sustainable products to get them in store and to increase their purchases, merchandise companion products together.
MILLENNIALS – AGED 23-36
Millennials, these are the consumers that are changing food as we know it and driving demand for natural healthy foods. They are willing to pay a premium for such products and their focus is on quality over price.
This consumer group have a strong need for simplicity and transparency with their food choices.
90% of this group use social media with a third saying it’s their preferred means of communication with a business. This consumer group are particularly interested in specialty foods with specific attributes, such as organic or natural.
Use social media to create hype around the organic and natural products you stock.
GENERATION X – AGED 37-51
For Generation X healthy attributes as very important and 50% of these consumers will read the nutritional panel before they purchase.
74% are not willing to pay a premium for products that offer healthy attributes.
With a third of this group wanting to cook more and 63% of Generation X females express they have a love for cooking, products that nurture this will help break their purchase barriers.
Host a cooking demonstration using good value, healthy convenience products. Hand out recipe cards and offer a discount on the products used.
BABY BOOMERS – AGED 52-66
Unlike millennials who are less married to the ‘one-stop-shop’ concept of shopping, Baby Boomers tend to purchase at one store for everything. They’re your big buyers and they’re also loyal.
A majority (87%) of Baby Boomers don’t shop for premium brands and almost half (49%) shop on price.
They are willing to pay more for foods that are GMO free, have no artificial colours or flavours and are marketed as all natural.
Create an eye-catching end of aisle display with a variety of quality, trusted, natural and affordable products.
THE SILENT GENERATION – AGED 67+
Between now and 2050 the number of Australians aged over 65 is expected to more than double and will account for an estimated 25% of the population. So although Millennials may be driving the health food trends, you shouldn’t forget the Silent Generation.
They don’t see health attributes as important, nor are they willing to pay more for them.
What they do see value in though, are low sugar products. These consumers (33%), along with Baby Boomers (37%) places more importance on sugar-free and low-sugar products than any other consumer group.
Use wobblers and clear signage to point out sugar free products.