International Dairy Deli Bakery Association’s (IDDBA) “What’s in Store 2018” report shows almost 45% of Millennials identify as ethnic or multicultural, making the generation the most diverse in U.S. history.
While certain cuisine, tastes, and flavors may originate from the culinary traditions of specific cultures, they’re much less likely to be viewed in those terms.
Other findings in the book’s “Consumer Lifestyles” chapter include:
- There are four generations in the aisle with a fifth close behind. Fifty-three percent of consumers will pay more for foods that promote health benefits.
- Millennials are more likely than other generations to incorporate a customized eating approach—such as meal planning, adhering to paleo and other diets of the like, purchasing local or environmentally friendly products.
- Millennials’ spending power will reach $3.5 trillion in 2017, and they will account for nearly 30% of consumer-packaged goods (CPG) spending by 2020.
“Just as retail channels are continually evolving, so too are the shoppers who frequent them,” said Eric Richard, education coordinator, IDDBA. “Today’s consumers represent a variety of generational and ethnic demographics, and their palates and dining preferences are shining light into new tastes, flavors and eating occasions. Grocers have the potential to be at the forefront of eating innovation and creation.”
With over 30 years of credible reporting, What’s in Store is an essential resource for dairy, deli, bakery, foodservice, and cheese departments and industries, providing vital data on retail and market trends, growth, and category changes shaping the food industry. What’s in Store is a secondary resource that is developed through both interviews with industry experts and sourcing third-party data and trends.
This year’s edition again features a continuous storyline to improve user efficiency and provide greater clarity for professionals needing to understand today’s retail world. Through themes, readers gain new insights and learn about marketplace influences. They are:
- The Economy & Retail Trends
- Channels and Competition
- Consumer Lifestyles
- Eating Trends
This themed narrative is carried into each of the product chapters: Bakery, Cheese, Dairy, and Deli. The new format, exclusive interview content, and inclusion of key insights, table interpretations, data callouts, and testimonials enable the reader to more efficiently tie back to the broader context and then dig deeper in each of the product sections.
Additionally, What’s in Store 2018 features: redesigned tables; infographics that inform readers why the data matters; key insights; more original expert interviews; and more graphics to illustrate best-in-class examples.
IDDBA members receive a free copy of What’s in Store 2018 as part of their membership. Additional copies can be purchased for $99 (member rate) or $399 (nonmember rate).