Did you ever hear something and can’t decide whether it’s good or bad?
That’s how I felt when I saw the results of an NPD study of Gen Y and Millennials, groups who seem to only have a passing interest in food and who may be totally connected to each other but not to their pantries.
These are groups driven by what The NPD Group calls the Three Cs-cravings convenience and cost. The up side for some manufacturers is that they are more likely to use frozen entrees and other quick convenience items. And since they usually don’t have leftovers, retailers can look forward to selling them high margin items more frequently.
But the question is what about the other 90% of the store?
On the other hand, Gen Y and the Millennials are the groups hardest hit by the current recession (yes, I said current!) and cost is another primary driver of their food choices. They are also more likely to shop at Walmart and other mass merchants than adults as a whole.
Beaming store specials to their iphones is not the Holy Grail of retail. I said it before and I’ll say it again-Give a man a fish and you feed him for a day. Teach him to fish and you feed him for a lifetime. Think about it!