Madison, Wis — The International Dairy·Deli·Bakery Association™ (IDDBA) finds a new breed of consumer is soaking up the spotlight reserved for prime spenders, and, therefore, are key targets for marketers. Key retail demographics are shifting toward Generations X and Y and Hispanics, according to the IDDBA’sWhat’s In Store 2011 report, now in its 25th year of publication.
New generations of consumers jump into the driver’s seat
In the post-recession recovery, Generations X and Y are the most-qualified consumers to fuel economic growth. Gen X, aged 29-45 years,is 62-million strong, with members in their prime earning (and spending) years, and three-quarters of them have young families. Gen Y, aged 10-28 years, has 85 million members and most do not have their own households; therefore, they have higher discretionary income. These generations will lead the spending charge, in contrast with Baby Boomers. Though Boomers, aged 45-63 years, have 82 million in their ranks, their wealth has decreased significantly, and their mindset is to save rather than spend.
At the same time, Hispanics are the fastest growing ethnic group in the United States. At 50 million, they’re the country’s largest minority. The top ten largest U.S. cities have no ethnic or racial majority. America’s diverse melting pot brings with it a new global flavor curve–one that’s part comfort and authentic, and yet out-of-the-box, creative, and bold. In addition, shifting consumer lifestyles have put more men in the shopping aisles than ever before. In 2010, women became the majority in the workforce. Concurrently, over 30% of men today are the primary grocery shopper; this compares with 15% in 1985. Men’s average dollar basket size across all channels has increased significantly—especially in grocery—up 56% from $41.67 in 2009 compared to $27.49 in 2004.
More at-Home Food Preparation Sways Sales As Nutritious Food Tops Trends
In general, all groups of consumers are still streamlining household budgets by eating at home more often and packing more lunches. At the same time, the cuisine adorning the kitchen tables and filling lunchboxes has taken a turn for the healthier. Food as a health product, or “food with benefits,” is a strong nutritional trend. These foods often tout whole grains, functional value, natural, organic, pure, simple, clean, and sustainable attributes, and low-calorie, or highly nutritive calorie qualities.
What's in Store 2011, our 25th anniversary edition, is a 206-page trends report, that details consumer and industry trends affecting the dairy case, cheese case, bakery, deli, and foodservice supermarket departments. Its 196 tables, developed in cooperation with leading industry firms and associations, include department sales, per capita consumption, consumer preferences, and random-weight, UPC, and private label sales data. The full report is available from IDDBA. The cost is $99 for IDDBA members and $399 for non-members, plus shipping and handling. Along with the book, readers have access to What’s in Store Online, featuring up to 53 quarterly updated, downloadable sales tables with random-weight (PLU), UPC, and system 2-coded data. In addition, the Web site offers timely white papers, trends articles, and links to all of the businesses that are referenced in the What’s in Store book. For more information, or to order, call the IDDBA Education Department at 608.310.5000 or visit the organization's Web site, http://www.iddba.org/.
Information on IDDBA’s research, education, and other industry activities is also available on its Web site, www.iddba.org, or by calling 608.310.5000. Now in its 47th year, IDDBA specializes in promoting the dairy, deli, cheese, and bakery industries. Member companies enjoy many benefits and services including the annual seminar and expo, leading-edge research, video and computer-based training programs, management tools, an annual trends report, and a member directory of key industry contacts.
Source: The International Dairy•Deli•Bakery Association